Boliden's Q1 2025: A solid start to our second century

23 Apr 2025 07:45 CEST

"We are proud to build a European base metal champion."
- Mikael Staffas, President and CEO.

Financials

.         Revenues: SEK 21,121 m (18,481)

.         Operating profit: SEK 3,062 m (1,615)

.         Operating profit excl. PIR*: SEK 2,599 m (1,212)

.         Free cash flow: SEK -1,869 m (-1,508)

.         Earnings per share: SEK 7.99 (4.16)

*Process Inventory Revaluation

Highlights

.      Operating profit excluding revaluation of process inventory totaled SEK
2,599 m (1,212)

.      Strikes in Finland had an estimated SEK -100 m (-400) effect on operating
profit

.      Free cash flow was SEK -1,869 m (-1,508) negatively impacted by an
increase in working capital but positively impacted by SEK 350 m insurance
proceeds

.      Higher metal prices and a stronger USD contributed positively versus the
first quarter of 2024

.      Lower milled volume and recoveries in Aitik

.      The ramp-up of Tara is progressing well

.      Odda has started the commissioning of its expansion project

.      Lower treatment charges and premiums

.      Boliden raised SEK 3.75 billion from a directed share issue

The Interim Report will be presented via webcast/conference call on Tuesday,
April 23 at 09:30 (CEST). Information is available at www.boliden.com.

For further information, please contact:

Olof Grenmark

Director Investor Relations

+46 70291 57 80

Olof.Grenmark@boliden.com

This information is information that Boliden AB is obliged to make public
pursuant to the EU Market Abuse Regulation. The information was submitted for
publication, through the agency of Director Investor Relations, at 07:45 CEST on
April 23, 2025.

Metals for generations to come

Boliden's vision is to be the most climate-friendly and respected metal provider
in the world. We are Europe's producer of sustainable metals and, guided by our
values care, courage and responsibility, we operate within exploration, mines,
smelters and recycling. We are around 7,500 employees and have annual revenues
of approximately SEK 90 billion. The share is listed in the Large Cap segment of
NASDAQ Stockholm.

www.boliden.com

More information:
Access the news on Oslo Bors NewsWeb site

644100_Report.pdf
644100_Press_release_.pdf