Boliden's first quarter: Strong cash flow

Revenues for the first quarter amounted to SEK 17,083 m (13,210) and operating profit, excluding revaluation of process inventory, totaled SEK 2,449 m (1,504). Free cash flow totaled SEK 2,165 m (-845).

“The focus on several metals critical for adapting to climate change and many larger production units means a general stability in terms of both market conditions and production factors. In this quarter, the strong development of the copper price in particular has contributed to a strong cash flow,” says Mikael Staffas, President and CEO.

The operating profit in Business Area Mines increased to SEK 1,631 m (318), mainly due to higher metal prices and terms. Aitik’s milled volume decreased compared to the previous quarter as a result of the previously communicated production disturbances. Garpenberg’s milled volume, meanwhile, reached a new record level. The milled volumes in the Boliden Area, Kevitsa and Tara were slightly lower than the previous quarter. 

Within Business Area Smelters, volumes were largely unchanged. Operating profit, excluding revaluation of process inventory, decreased to SEK 949 m (1,117) due to higher metal prices not fully compensating for a weaker USD and lower treatment charges. Rönnskär’s copper and precious metal production was slightly lower than both the previous quarter and last year, while copper and gold production in Harjavalta achieved new records. Production in Kokkola, Odda and Bergsöe was stable.
 

For further information, please contact:
Klas Nilsson, Director Group Communications, phone: +46 70-453 65 88

  
Boliden is a metals company with a focus on sustainable development. Our roots are Nordic, our market global. Our core competence lies within the fields of exploration, mining, smelting and metal recycling. Boliden has around 6,000 employees and an annual turnover of SEK 50 billion. The share is listed in the Large Cap segment on NASDAQ OMX Stockholm.
www.boliden.com

More press releases & news

The abnormally high seismic activity in Garpenberg has decreased and mining production at low levels will commence in the second quarter. The first quarter throughput was just under 0.8 Mton instead of the expected slightly over 0.9 Mton at already communicated grades. All inspections are not yet complete but production in the most affected part of the mine is not expected to resume in 2026. Until further notice, Garpenberg's production is therefore estimated to be around 30 percent of the guided capacity of 3.7 Mton per year. For the first quarter of 2026, EBITDA will be negatively affected by approximately SEK -400 million at today's prices and terms.

The shareholders of Boliden AB (p

Boliden has decided to invest in a new hoist system at Garpenberg and an industrial demonstration plant for the production of supplementary cementitious material at Rönnskär. The investments, which amount to SEK 4 billion and SEK 1.5 billion respectively, will strengthen the earnings capacity of both units and lay the foundation for exploiting further future opportunities.