BOLIDEN, Sweden, April 28,
2022 /PRNewswire/ -- Revenues for the first
quarter amounted to SEK 21,812 m
(17,083) and operating profit, excluding revaluation of process
inventory, totaled SEK 4,466 m
(2,449). Free cash flow totaled SEK 674
m (2,165).
"A strong quarter, with metal prices that remained high.
Production was in general good with increased milled volumes at our
mines and stable production at our smelters," says Mikael Staffas,
President and CEO.
The operating profit at Boliden Mines increased to SEK 3,115 m (1,631) due to improved metal
prices and a stronger USD, while volumes had a negative impact.
Costs increased as a result of higher energy prices and strong cost
inflation for mining-related input materials. The milled volume in
Aitik was significantly higher than last year and there was an
increase in production of copper in concentrate. The Boliden Area
also recorded a higher milled volume than last year. In Garpenberg,
maintenance had a negative impact, with the milled volume being
lower than last year. Also Tara had a lower milled volume.
Kevitsa's milled volume was higher than last year despite increased
rates of sick leave. However, lower grades meant that production of
copper and nickel in concentrates decreased compared to last
year.
Within Boliden Smelters, operating profit, excluding revaluation
of process inventory, increased to SEK 1,378
m (949). Prices and terms had a significant positive effect.
However, volumes had a negative impact, and higher prices for
energy and consumables resulted in increased costs also at
Smelters. Rönnskär's production of base metals was higher than last
year, while gold production remained largely unchanged. In
Harjavalta, production of copper and nickel matte was lower than
last year. Zinc production at Kokkola was in line with last year,
while in Odda production increased and the expansion project is
running according to plan. In Bergsöe, production was lower than
last year.
For further information, please contact:
Klas Nilsson, Director Group
Communications, phone: +46 70-453 65 88,
klas.nilsson@boliden.com
Boliden is a metals company with a focus on sustainable
development. Our roots are Nordic, our market global. Our core
competence lies within the fields of exploration, mining, smelting
and metal recycling. Boliden has around 6,000 employees and annual
sales of approximately SEK 70
billion. The share is listed in the Large Cap segment on
NASDAQ OMX Stockholm.
www.boliden.com
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SOURCE Boliden