Interim Report
Interim Report, 1st January – 30th June 2005
Comparison between the first six months of 2005 and 2004 • Net sales totalled SEK 9,179 million (SEK 9,045 m). • The operating result was SEK 783 million (SEK 915 m). • The result after financial items was SEK 621 million (SEK 698 m). • The net result totalled SEK 422 million (SEK 630 m). • Earnings per share came to SEK 1.46 (SEK 2.72). • The cash flow from operating activities totalled SEK 961 million (SEK 910 m). • The net debt/equity ratio was 69 per cent (97%). Comparison between Q2 2005 and Q2 2004 • Net sales totalled SEK 4,705 million (SEK 4,547 m). • The operating result was SEK 369 million (SEK 440 m). • The result after financial items was SEK 269 million (SEK 350 m). • The net result totalled SEK 166 million (SEK 323 m). • Earnings per share came to SEK 0.57 (SEK 1.28). • The cash flow from operating activities totalled SEK 712 million (SEK 434 m). Other matters • Production fell during the second quarter, primarily due to planned maintenance shutdowns and a number of unplanned production stoppages in both the company’s Product Segments, Zinc and Copper. • Boliden drew up a commercial paper programme in April totalling a maximum of SEK 1.5 billion with a maximum term of 12 months. • A reorganisation into new business areas was approved in July with the aim of ensuring an increased focus on the company’s main products, copper and zinc. • Boliden believes that the result after financial items for 2005 will exceed that for 2004, when it posted an historically strong result. A substantial improvement in free cash flow is also expected in 2005. Boliden AB (publ) Investor Relations Box 44, SE-101 20 Stockholm, Sweden Tel.: +46 8 610 15 00, Fax: +46 8 31 55 45 www.boliden.com Co. reg. no. 556051-4142 Contact persons for information: Jan Johansson, President and CEO Tel.: +46 8 610 16 02 jan.c.johansson@boliden.com Mobile: +46 70 555 02 02 Ulf Söderström, Senior VP, Group Communications Tel.: +46 8 610 15 57 ulf.soderstrom@boliden.com Mobile: +46 70 618 95 95 Staffan Bennerdt, CFO Tel.: +46 8 610 15 20 Staffan.bennerdt@boliden.com Mobile: +46 70 513 61 14 See attached the complete Interim Report www.boliden.com