Boliden Q3 2024: High production, stronger results
Rhea-AI Summary
Boliden reported strong Q3 2024 results, with high production and improved financial performance. Revenues increased to SEK 22,193 million from SEK 19,396 million in the previous year. Operating profit rose to SEK 3,165 million from SEK 1,912 million, while operating profit excluding process inventory revaluation reached SEK 2,999 million, up from SEK 1,940 million. Free cash flow improved to SEK -495 million from SEK -1,200 million.
Key highlights include improved prices and terms, enhanced production in both Mines and Smelters, and a record milled volume in Garpenberg. Several expansion projects are nearing completion, including those in the Boliden Area, Odda, and Aitik. The company is also progressing with the construction of a new tankhouse in Rönnskär and paste and dewatering facilities in the Boliden Area. Additionally, preparations are underway to restart mine production in Tara.
Positive
- Revenues increased by 14.4% year-over-year to SEK 22,193 million
- Operating profit rose by 65.5% to SEK 3,165 million
- Operating profit excluding PIR grew by 54.6% to SEK 2,999 million
- Free cash flow improved by 58.8% to SEK -495 million
- Record milled volume achieved in Garpenberg
- Several expansion projects nearing completion
Negative
- Free cash flow remains negative at SEK -495 million
Financials
- Revenues:
SEK 22,193 m (19,396) - Operating profit:
SEK 3,165 m (1,912) - Operating profit excl. PIR*:
SEK 2,999 m (1,940) - Free cash flow:
SEK -495 m (-1,200) - Earnings per share:
SEK 8.34 (4.96)
*Process Inventory Revaluation
Highlights
- Operating profit excluding revaluation of process inventory totaled
SEK 2,999 m (1,940) - Free cash flow was
SEK -495 m (-1,200) - Improved prices and terms
- Improved production in both Mines and Smelters
- Record milled volume in Garpenberg
- The expansion projects in the Boliden Area and Odda as well as the dam project in Aitik are close to completion
- The construction of a new tankhouse in Rönnskär and paste and dewatering facilities in the Boliden Area are on track
- Preparations ongoing to restart mine production in Tara
The Interim Report will be presented via webcast/conference call on Tuesday, October 22 at 09:30 (CEST). Information is available at www.boliden.com.
For further information, please contact:
Olof Grenmark
Director Investor Relations
+46 70 291 57 80
olof.grenmark@boliden.com
This information is information that Boliden AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of Director Investor Relations, at 07.45 CEST on October 22, 2024.
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/boliden/r/boliden-q3-2024--high-production--stronger-results,c4054222
The following files are available for download:
Report | |
https://mb.cision.com/Public/997/4054222/b5e1b436850ae1a8.pdf | Press release |
View original content:https://www.prnewswire.com/news-releases/boliden-q3-2024-high-production-stronger-results-302282699.html
SOURCE Boliden
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