Q3 Interim Report 2023

October 20, 2023

Q3 2023

  • Revenues totaled SEK 19,396 m (19,480) 
  • The operating profit totaled SEK 1,912 m (3,550)
  • The operating profit excluding revaluation of process inventory totaled SEK 1,940 m (3,484)
  • Free cash flow totaled SEK -1,200 m (97)
  • Earnings per share totaled SEK 4.96 (9.90)

Key investment projects on track

  • Decreasing metal prices
  • Tara mine in care and maintenance
  • Stable milled volumes except in Aitik
  • Low grades
  • Production at Rönnskär ramped up and operating according to modified business model

Please find enclosed the full report.

The Interim Report will be presented via a webcast/conference call on Friday, October 20 at 09:30 (CET). Information is available at www.boliden.com.

Contact persons for information:

Mikael Staffas, President & CEO                           Tel: +46 8 610 15 00

Håkan Gabrielsson, CFO                                        Tel: +46 8 610 15 00

Olof Grenmark, Director Investor Relations          Tel: +46 70 291 57 80

Email: [email protected]

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 Director Investor Relations, at 07.45 CET on October 20, 2023.

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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.