Interim Report, January-March 2008

Stable trend during first quarter

Q1 2008

  • Revenues rose to SEK 9,303 million (SEK 8,455 m).
  • The operating profit fell to SEK 1,231 million (SEK 1,286 m).
  • The profit after tax was SEK 1,263 million (SEK 921 m).
  • Earnings per share totalled SEK 4.62 (SEK 3.18).
  • The free cash flow totalled SEK 1,198 million (SEK 1,117 m).
  • Boliden was granted a deficit deduction of SEK 1,557 million, yielding a tax receipt of SEK 436 million during the first quarter.
  • Increased ore reserves and mineral assets.
  • Environmental licence granted for Aitik expansion.

Summary of financial performance

                      Q1       Q1  Full year
 SEK m              2008     2007       2007
 Revenues          9 303    8 455     33 204
 Operating profit
 (EBIT)            1 231    1 286      5 428
 Profit before tax 1 133    1 261      5 196
 Profit after tax
 1)                1 263      921      3 787
 Earnings per
 share 2)           4.62     3.18      13.37
 Free cash flow 3) 1 198    1 117      1 212
 Return on capital
 employed, %          25       28         29
 Return on equity,
 % 4)                 39       22         26
 Net debt/
 Shareholders'
 equity, %            31       -8         43

1. of which SEK 436 million are tax receipt
2. of which 1.59 are tax receipt
3. refers to cash flow before financing operations
4. of which 13% are tax receipt

Contact persons for information:

  
 Lennart Evrell, President & CEO                                                                
 Tel:+46 70 208 32 13                   
 [email protected]  
                                                                       
 Carina Wång, Acting CFO                                                                           
 Tel:+46 70 208 32 13                   
 [email protected]                                                                          
  
 See attached the complete Interim Report
                                                                        
 www.boliden.com

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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.