Interim Report, 1st January - 30th June 2004
[Removed Graphic]
New Boliden reports a record result for the first six months of 2004
Comparison between the first six months of 2004 and 2003
· Net sales increased to SEK 9,045 million (SEK 4,636 m).
· The operating result increased to SEK 831 million (SEK 210 m).
· The result after financial items improved to SEK 614 million (SEK
69 m).
· The net result increased to SEK 546 million (SEK 169 m).
· Earnings per share increased to SEK 2.36 (SEK 1.59).
· Cash flow from operating activities totalled SEK 910 million (SEK
336 m).
· The debt/equity ratio has improved significantly to 99 percent
(154%).
Comparison between Q2 2004 and Q2 2003
· Net sales increased to SEK 4,547 million (SEK 2,298 m).
· The operating result increased to SEK 397 million (SEK 84 m).
· The result after financial items improved to SEK 307 million (SEK
15 m).
· The net result increased to SEK 280 million (SEK 39 m).
· Earnings per share increased to SEK 1.11 (SEK 0.37).
Other
· The rights issue, which was over-subscribed, was completed in April
and provided Boliden with approximately SEK 1.4 billion.
· A ten-year partnership agreement, increasing supplies of copper
concentrate from the Portuguese mine Neves Corvo, was signed in June.
· Additional potential for operating synergies has been identified.
· The sale of the Canadian mine, Myra Falls, was concluded in July.
Contact persons for information:
Jan Johansson, President and CEO Tel +46 8 610 16 02 [email protected] Mobile +46 70 555 02 02
Ulf Söderström, Senior VP, Group Tel +46 8 610 15 57 Communications [email protected] Mobile +46 70 618 95 95 Jan Öhman, Senior VP, Group Controlling Tel +46 8 610 15 33 [email protected] Mobile +46 70 624 19 05
Boliden's website: www.boliden.com