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Boliden's Performance in Q4 2024

In the final quarter marking the century-long journey of Boliden, the company demonstrated substantial stability across its various sectors. Mikael Staffas, President and CEO, expressed confidence in the company’s operations, highlighting particularly positive developments in the Boliden Area and Garpenberg mines. The Finnish smelting outputs also notably stood out, showcasing remarkable strength.

Financial Overview

Boliden's financial performance has shown noticeable growth:

• - Total Revenues: SEK 25,785 million, an increase from SEK 20,754 million.
• - Operating Profit: SEK 4,098 million, a significant jump from SEK 2,096 million.
• - Operating Profit (excluding PIR): SEK 3,814 million compared to SEK 2,017 million.
• - Free Cash Flow: Reached SEK 4,264 million, up from SEK 1,663 million, attributed in part to a working capital release.
• - Earnings per Share: SEK 10.95, an increase from SEK 6.06.

These positive figures can be traced back to various factors, including beneficial pricing, improved volume across both mining and smelting operations versus the previous year's fourth quarter, and a successful ramp-up in production at the Tara mine.

Key Highlights

Several pivotal highlights from this quarter's performance include:

• - The successful completion of the dam project in Aitik and the nearing completion of the expansion project in Odda.
• - Strong performance in smelting operations, particularly at Harjavalta and Kokkola facilities.
• - An agreement regarding the acquisition of Neves-Corvo and Zinkgruvan mines from Lundin Mining, indicating a strategic move toward expanding operational capabilities and resource holdings.
• - The Board of Directors is proposing the cancellation of the ordinary dividend for 2024, aiming to reduce the amount associated with proposed share issues.

Overall, the company’s strong revenue growth, increases in cash flow, and strategic acquisitions suggest a solid foundation for the future. Boliden is positioning itself well for continuous improvement and expansion in both mining and smelting sectors.

Looking Ahead

The Interim Report was scheduled for a detailed presentation through a webcast/conference call on February 6, 2025, further illustrating Boliden's commitment to transparency and maintaining stakeholder engagement.

In summary, Boliden’s Q4 results show a robust strategy focusing on sustainable growth and resilience as it celebrates a century of operational excellence. Investors and stakeholders alike can take confidence in the company's vision and long-term strategies.

More updates and detailed information can be accessed through Boliden’s official website at www.boliden.com.