Interim Report, 1st January - 30th September 2004
New Boliden continues to report record results
Comparison between the first nine months of 2004 and 2003
· Net sales increased to SEK 13,310 million (SEK 6,962 m).
· The operating result rose to SEK 1,194 million (SEK 297 m).
· The operating result was negatively affected by net non-recurring items of SEK -12 million.
· The result after financial items improved to SEK 887 million (SEK 80 m).
· The net result increased to SEK 802 million (SEK 250 m).
· Earnings per share rose to SEK 3.37 (SEK 2.35).
· Cash flow from operating activities totalled SEK 1,257 million (SEK 618 m).
· The net debt/equity ratio has improved substantially to 96 per cent (138%).
Comparison between Q3 2004 and Q3 2003
· Net sales increased to SEK 4,265 million (SEK 2,326 m).
· The operating result rose to SEK 363 million (SEK 87 m).
· The operating result was negatively affected by net non-recurring items of SEK -12 million.
· The result after financial items improved to SEK 273 million (SEK 11 m).
· The net result increased to SEK 256 million (SEK 81 m).
· Earnings per share rose to SEK 1.01 (SEK 0.76).
Other
· The sale of the Canadian mine, Myra Falls, was concluded in July.
· In September, the European Commission fined a former Boliden company, which has now been sold, SEK 300 million for participation in a copper-tube cartel. This has affected the result of the reporting period.
· Land adjacent to the Tara zinc mine in Ireland was sold in September. The sale generated a capital gain after tax of SEK 150 million.
· Boliden's refinancing of the company's bank loans for a total of EUR 840 million was completed in October.
Contact persons for information: Jan Johansson, President and CEO Tel.: +46 8 610 16 02 Mobile: +46 70 555 02 02 [email protected]
Ulf Söderström, Senior VP, Group Communications Tel.: +46 8 610 15 57 Mobile: +46 70 618 95 95 [email protected]
Jan Öhman, Senior VP, Group Controlling Tel.: +46 8 610 15 33 Mobile: +46 70 624 19 05 [email protected]
See attached the complete Interim Report