Boliden: Update expansion project Odda and capital expenditure guidance 2025
Boliden's expansion project at the Odda zinc smelter, aimed at increasing annual production from 200 to 350 ktonnes, faces delays primarily in the roasting facility. The ramp-up towards the new production level will now start at the end of Q1 2025, instead of Q4 2024. This delay results in a EUR 100 million cost increase for the project. Despite this setback, Boliden's total capital expenditures for 2024 remain at SEK 15.5 billion, with 2025 expenditures estimated at SEK 13.5 billion.
The investment is still expected to generate EUR 150 million in annual EBITDA. Odda's production capacity will return to 200 ktonnes from Q1 2025, with full production of 350 ktonnes to be achieved progressively during 2025.
Il progetto di espansione di Boliden presso la fonderia di zinco di Odda, che mira ad aumentare la produzione annuale da 200 a 350 ktonnellate, affronta ritardi principalmente nella struttura di tostatura. L'inizio dell'adeguamento al nuovo livello di produzione avverrà ora alla fine del primo trimestre del 2025, invece che nel quarto trimestre del 2024. Questo ritardo comporta un aumento dei costi di 100 milioni di euro per il progetto. Nonostante questo contrattempo, le spese in conto capitale totali di Boliden per il 2024 rimangono a 15,5 miliardi di SEK, con le spese stimate per il 2025 a 13,5 miliardi di SEK.
Si prevede comunque che l'investimento genererà 150 milioni di euro in EBITDA annuale. La capacità produttiva di Odda tornerà a 200 ktonnellate dal primo trimestre del 2025, con una produzione completa di 350 ktonnellate che sarà raggiunta progressivamente durante il 2025.
El proyecto de expansión de Boliden en la fundición de zinc de Odda, que tiene como objetivo aumentar la producción anual de 200 a 350 kilotoneladas, enfrenta retrasos principalmente en la instalación de tostado. La fase de aumento hacia el nuevo nivel de producción comenzará ahora a finales del primer trimestre de 2025, en lugar del cuarto trimestre de 2024. Este retraso resulta en un aumento de costos de 100 millones de euros para el proyecto. A pesar de este contratiempo, los gastos de capital totales de Boliden para 2024 siguen siendo de 15.5 mil millones de SEK, con gastos estimados para 2025 de 13.5 mil millones de SEK.
Se espera que la inversión aún genere 150 millones de euros en EBITDA anual. La capacidad de producción de Odda volverá a ser de 200 kilotoneladas a partir del primer trimestre de 2025, alcanzando una producción total de 350 kilotoneladas de manera progresiva durante 2025.
볼리덴의 오다 아연 제련소 확장 프로젝트는 연간 생산량을 200에서 350킬로톤으로 늘리기 위해 진행되고 있으며, 주로 로스팅 시설에서 지연되고 있습니다. 새로운 생산 수준으로의 증가는 이제 2024년 4분기 대신 2025년 1분기 말에 시작될 것입니다. 이러한 지연으로 인해 프로젝트 비용이 1억 유로 증가합니다. 이러한 차질에도 불구하고 2024년 볼리덴의 총 자본 지출은 155억 SEK를 유지하며, 2025년 지출은 135억 SEK로 예상됩니다.
이 투자는 여전히 연간 1억 5천만 유로의 EBITDA를 창출할 것으로 예상됩니다. 오다의 생산 능력은 2025년 1분기부터 200킬로톤으로 돌아오며, 2025년 동안 점진적으로 350킬로톤의 완전 생산에 도달할 것입니다.
Le projet d'expansion de Boliden à la fonderie de zinc d'Odda, visant à augmenter la production annuelle de 200 à 350 kilotonnes, rencontre des retards principalement dans l'installation de grillage. La montée vers le nouveau niveau de production commencera désormais à la fin du premier trimestre 2025, au lieu du quatrième trimestre 2024. Ce retard entraîne une augmentation des coûts de 100 millions d'euros pour le projet. Malgré cet obstacle, les dépenses d'investissement totales de Boliden pour 2024 restent à 15,5 milliards de SEK, avec des dépenses estimées à 13,5 milliards de SEK pour 2025.
L'investissement devrait toujours générer 150 millions d'euros de EBITDA annuel. La capacité de production d'Odda retrouvera 200 kilotonnes à partir du premier trimestre 2025, avec une production complète de 350 kilotonnes à atteindre progressivement durant 2025.
Das Expansionsprojekt von Boliden im Zinkwerk Odda, das darauf abzielt, die jährliche Produktion von 200 auf 350 Kilotonnen zu erhöhen, hat hauptsächlich aufgrund der Röstanlage Verzögerungen. Der Aufbau auf das neue Produktionsniveau wird nun Ende des ersten Quartals 2025 beginnen, anstelle des vierten Quartals 2024. Diese Verzögerung führt zu einem Kostenanstieg von 100 Millionen Euro für das Projekt. Trotz dieses Rückschlags bleiben die gesamten Investitionsausgaben von Boliden für 2024 bei 15,5 Milliarden SEK, wobei die Ausgaben für 2025 auf 13,5 Milliarden SEK geschätzt werden.
Die Investition wird weiterhin voraussichtlich 150 Millionen Euro an jährlich EBITDA generieren. Die Produktionskapazität in Odda wird ab dem ersten Quartal 2025 auf 200 Kilotonnen zurückkehren, mit einer vollständigen Produktion von 350 Kilotonnen, die während des Jahres 2025 schrittweise erreicht wird.
- Investment in Odda zinc smelter still expected to generate EUR 150 million in annual EBITDA
- Odda's production capacity to return to 200 ktonnes from Q1 2025
- Most of the expansion project components are on schedule for completion by end of 2024
- Delay in Odda expansion project, particularly in the roasting facility
- EUR 100 million cost increase due to project delay
- Ramp-up to new production level postponed from Q4 2024 to end of Q1 2025
- Full production capacity of 350 ktonnes delayed until later in 2025
In addition to enhanced electricity supply and quay infrastructure, the investment in Odda also includes a new roasting facility, a new sulfhuric acid plant, expansion and modernization of the leaching and purification plant, a new tankhouse and expansion of the foundry. In the vast majority of cases, the work follows the original plan, which means completion and commissioning towards the end of 2024. Due to delayed construction works at primarily the roasting facility, the new production capacity 350 ktonnes will be delayed. The start of the ramp-up, originally planned for the fourth quarter 2024, will instead start at the end of the first quarter of 2025 and full production is estimated to be achieved successively during 2025. The delay results in an additional
The investments in Odda is estimated to generate
Boliden's total investments for 2024 are estimated to be
In light of the above, a press and analyst conference will be held today, September 12, at 09:00 CEST, and can be followed via webcast and telephone. The conference will be led by Boliden's President and CEO Mikael Staffas, and CFO Håkan Gabrielsson.
To participate in the webcast, please use the link below:
https://boliden.videosync.fi/2024-09-12-1omnwfqbz5
To participate in the telephone conference, please register 5 minutes before the opening of the conference via the link below. After the registration you will be provided with phone number and a conference ID to access the conference. If you wish to ask a question, please dial *5 on your telephone keypad to enter the queue.
https://service.flikmedia.se/teleconference/?id=100429
After the call, presentation material and the recorded webcast will be available on our website: https://www.boliden.com
For further information, please contact:
Klas Nilsson
Director Group Communications
+46 70 453 65 88
klas.nilsson@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 contact person above, at 07:00 CEST on September 12, 2024.
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SOURCE Boliden
FAQ
What is the new timeline for Boliden's Odda zinc smelter expansion project?
How much additional cost has the delay in Boliden's Odda project incurred?
What are Boliden's (BDNNY) capital expenditure estimates for 2024 and 2025?
What is the expected annual EBITDA from the Odda investment for Boliden (BDNNY)?
