Boliden reports a profit after financial items of SEK 111 million (SEK -3,756 m) for the full year, 2002.
The profit after financial items for the fourth quarter of 2002 totalled SEK 78 million (SEK -320 m).
Cash flow improved significantly during the fourth quarter to SEK 466 million. Cash flow for 2002 totalled SEK -14 million (SEK 391 m).
The Business Area Mining Operations reports a continued improvement in profits for the fourth quarter in comparison with the first two quarters of 2002.
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.
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.