Interim Report, January - June 2003
INTERIM REPORT, JANUARY - JUNE 2003 19th August 2003 · Turnover totalled SEK 4,636 million (SEK 5,056 m) for the first six months of the year and SEK 2,298 (SEK 2,651 m) for the second quarter. · Earnings after net financial items improved to SEK 69 million (SEK 21 m) for the first six months of the year and to SEK 15 million (SEK 4 m) for the second quarter. · The profit after tax totalled SEK 169 million (SEK 30 m), corresponding to an EPS of SEK 1.97 (SEK 0.35) per share, for the first six months of the year. For the second quarter the profit after tax totalled SEK 39 million (SEK 13 million), corresponding to an EPS of SEK 0.47 (SEK 0.15) per share for the second quarter. · The cash flow for the first six months of the year totalled SEK 36 million (SEK -45 m) and SEK 5 million (SEK 283 m) for the second quarter. · Decision by Swedish Parliament allows tax losses carried forward of SEK 2,440 million, previously incurred within the Boliden Group, to be utilized as a deduction against normal income from operations. · During the second quarter of 2003 Boliden continued with the close-out of the company's dollar hedging contracts, thereby strengthening both the cash flow and the Group's shareholders' equity. The close-out did not affect the earnings after financial items. · The programme designed to boost efficiency and cut costs, launched during Q1 2003, continues according to plan. This programme, when combined with programmes already in progress, is expected to yield an annual effect on the result of SEK 300 million, the full effect being felt in 2004. · Two transactions that restructure the Nordic and British brass markets were concluded during the second quarter. The objective is to increase Boliden's competitiveness and profitability. Contact persons for further information: Jan Johansson, President & CEO Tel +46 8 610 16 02 jan.c.johansson@boliden.se Mobile +46 70 555 02 02 Ulf Söderström, VP, Public Relations Tel +46 8 610 15 57 ulf.soderstrom@boliden.se Mobile +46 70 618 95 95 Jan Öhman, CFO Tel +46 8 610 15 33 jan.ohman@boliden.se Mobile +46 70 624 19 05 Boliden's homepage: www.boliden.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/08/19/20030819BIT00490/wkr0001.DOC The Full Report http://www.waymaker.net/bitonline/2003/08/19/20030819BIT00490/wkr0002.pdf The Full Report