Boliden Ab - BDNNY STOCK NEWS

Boliden has signed a significant agreement with Metso Outotec to expand the Odda zinc smelter between 2021 and 2024. The deal, valued at 150 MEUR, is part of a larger 700 MEUR investment to enhance production capacity from 200,000 to 350,000 tonnes per year. This expansion aims to improve sustainability and cost efficiency in zinc smelting, with commissioning scheduled for Q4 2024. President Daniel Peltonen emphasized that this collaboration will help Boliden produce zinc with a leading climate profile.

The Boliden Nomination Committee has been restructured, appointing Lilian Fossum Biner as Chair and adding Anders Oscarsson to better reflect shareholder interests. Key members include Jan Andersson, Lars-Erik Forsgårdh, Ola Peter Gjessing, and Anders Ullberg. The committee invites shareholder proposals via email or mail. Boliden is a leading metals company focused on sustainable development with around 6,000 employees and an annual turnover of SEK 50 billion, listed on NASDAQ OMX Stockholm.

Boliden reported stable results for Q3, 2021, with an operating profit increase to SEK 1,936 million, boosted by high metal prices. However, milled volumes in Aitik and Tara fell compared to previous periods, with a significant production shutdown in Garpenberg. Boliden Smelters' profit excluding inventory revaluation was SEK 611 million, down from SEK 835 million, impacted by higher energy prices and a fire in Harjavalta, which resulted in an SEK -80 million loss. Global demand for base metals remains strong, but supply chain uncertainties persist.

Boliden's Q3 2021 report indicates revenues of SEK 15,906 m, up from SEK 13,550 m in Q3 2020. However, operating profit fell to SEK 2,305 m from SEK 2,622 m the previous year, with free cash flow decreasing to SEK 962 m. Earnings per share also dipped to SEK 6.57, down from SEK 7.44. The company faced production disruptions in mines and smelters despite high metal prices. A conference call is scheduled for October 22 to discuss the full report.

Boliden has announced the introduction of an Autonomous Hauling System at its Aitik mine, investing SEK 218 million for full implementation by 2024. This initiative aims to enhance productivity and asset utilization in response to increasing transport demands, while maintaining cost competitiveness. The project will also improve the safety and attractiveness of the work environment through extensive staff training. This marks the first roll-out of such a system in the EU, reinforcing Aitik's status as the world's most productive copper mine.

Boliden will release its third quarter 2021 Interim Report on October 22 at 07:45 CET. A press and analyst conference is scheduled for 09:30 CET, accessible via live webcast and telephone. Boliden's President and CEO, Mikael Staffas, and CFO Håkan Gabrielsson will present the report. Interested participants can join via a specified telephone number based on their location. For further information, contact Olof Grenmark, Director of Investor Relations.

Boliden's Q2 2021 report shows a substantial increase in revenues, reaching SEK 17,891 m, compared to SEK 13,391 m in Q2 2020. The company reported an operating profit of SEK 2,785 m, up from SEK 1,801 m, and earnings per share soared to SEK 8.00, up from SEK 4.92. Strong cash flow of SEK 2,013 m indicates robust financial health. Boliden is also investing EUR 700 m to enhance its Odda smelter capacity, reflecting a commitment to growth amidst high metal prices and stable production.

Boliden is undertaking a significant EUR 700 million investment to expand its Boliden Odda facility in Norway, increasing annual zinc production capacity from 200 Ktonnes to 350 Ktonnes by the end of 2024.

This expansion will enhance productivity, utilize fossil-free electricity, and employ sustainable waste management techniques. The investment also includes new facilities, such as a sulphuric acid plant and improved digitization for better efficiency. All necessary environmental permits are secured, marking this as one of Boliden's largest investments aimed at enhancing sustainable zinc production.

Boliden reported strong financial results for Q2 2021, with sales reaching SEK 17,891 million, up from SEK 13,391 million a year earlier. The operating profit, excluding inventory revaluation, surged to SEK 2,616 million compared to SEK 1,634 million. Free cash flow also saw a significant increase to SEK 2,013 million from SEK 1,174 million. Operating profit from Boliden Mines hit a record SEK 2,192 million, influenced by higher metal prices, although lower grades impacted copper and precious metals production.