BOLIDEN, Sweden, July 19, 2019 /PRNewswire/ -- Boliden's second
quarter was characterized by stable production at lower grades in
Mines and planned maintenance shutdowns in Smelters. Revenues for
the period were SEK 12,747 m
(14,071), and the operating profit excluding revaluation of process
inventory was SEK 1,631 m (2,329).
Free cash flow totalled SEK 789 m
(1,718).
"In general, production was stable during the quarter. Lower
grades in several mines together with planned maintenance shutdowns
in our Finnish smelters naturally affected earnings. The result was
also impacted by an item affecting comparability for future
reclamation work at Rönnskär," says Boliden's President & CEO,
Mikael Staffas.
Operating profit in Boliden Mines decreased to SEK 1,149 m (2,044) as a result of lower grades
in Tara, Kevitsa and Aitik as well as deteriorated prices and
terms. Milled volumes increased in Aitik and the Boliden Area
compared to both the previous quarter and last year. The milled
volume in Garpenberg was almost on par with the first quarter's
record level. Mining in Tara took place in areas with lower zinc
grades while its milled volume increased slightly compared to last
year. Kevitsa is in a transitional phase to increase production,
and its milled volume was slightly lower compared to both the
previous quarter and last year.
Operating profit, excluding revaluation of process inventory, in
Boliden Smelters decreased to SEK 387
m (630). An extensive planned maintenance shutdown in
Harjavalta and an item affecting comparability in the amount of SEK
- 139 m (0) for future reclamation at
Rönnskär had negative effects. Rönnskär suffered a few minor
disruptions, and copper production was slightly lower than last
year. Feed at Kokkola was also affected by a planned maintenance
shutdown. New quarterly records for feed and metal production were
noted in Odda, and in Bergsöe production was higher than both the
previous quarter and last year.
For further information, please contact:
Klas Nilsson, Director Group
Communications, tel: +46-70-453-65-88
Boliden is a metals company with a focus on sustainable
development. Our roots are Nordic, but our business is global. The
company's core competence is within the fields of exploration,
mining, smelting and metals recycling. Boliden has a total of
approximately 5,800 employees and a turnover of SEK 50 billion. Its shares is listed on NASDAQ
OMX Stockholm, segment Large Cap.
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SOURCE Boliden