contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    id
  }
  tags {
    name
    id
  }
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


boliden-write-down-of-assets-in-garpenberg

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

changedAt

Boliden is active in the metals industry. The company works with exploration, exploitation and further distribution of precious metals. The raw materials consist mainly of lead, zinc, copper and nickel. Other products manufactured include copper sulphate, selenium and iron sand. Customers are found in several sectors, with the greatest focus on the construction and automotive industries. The operations are run through subsidiaries throughout the European market.

I’ve occasionally followed Boliden and its share price development. Now, mining companies have been particularly interesting, as I’ve noticed SSAB’s significant rise in a couple of weeks, e.g., due to USA tariff speculation. Today, strong results from Boliden  Revenues: SEK 25,785 m (20,754) Operating profit: SEK 4,098 m (2,096) Operating profit excl. PIR*: SEK 3,814 m (2,017) Free cash flow: SEK 4,264 m (1,663) Earnings per share: SEK 10.95 (6.06)  The initial share price reaction was quite soft, but it seems to have accelerated towards the evening.

Should I buy Boliden for a book-entry account or an equity savings account? I know that in an equity savings account, a significant portion of the tax benefit is lost because you don’t get a withholding tax credit, but I’m thinking more about situations like last year’s split + redemption scheme, which cause an annoying amount of hassle without a tax wrapper. Have there been these types of events often, and are they to be expected in the future as well?

Boliden released a capital markets update today, so it’s a good time to wake up the thread a bit.  Virtual Capital Markets Update: https://investors.boliden.com/en/investor-relations/reports-and-presentations/capital-markets-days-and-other-events  Boliden’s virtual event is a Flik production. It doesn’t look like the broadcast is available on the Inderes website, so the broadcast starting at 3:00 PM can be found via that link. https://boliden.videosync.fi/2024-03-18-vcmd2024 I haven’t followed Boliden’s development closely, but based on the news flow, last year seemed challenging. Last summer, there was a major fire at the Rönnskär copper smelter in Skellefteå, where the tank house (elektrolyysihalli) was completely destroyed. At the same time, production and exploration at the Tara zinc mine in Ireland were halted due to falling zinc prices and rising costs, and ore grades were declining at the Kevitsa mine. Consequently, costs increased more than expected. In February, however, Boliden published a fairly reasonable Q4’23 report. Currently, the share price is at nearly the same levels as last July, but the price will largely follow the development of metal prices. https://investors.boliden.com/en/press/bolidens-fourth-quarter-good-cash-flow-despite-intensive-investment-period-2201535 This morning, Boliden announced it is investing a total of 4.8 billion SEK in a new tank house at Rönnskär. According to the release, capacity will remain at 230 kilotonnes, and full capacity is expected to be reached in the second half of 2026.  Press release: https://news.cision.com/boliden/r/boliden-s-capital-market-update--investment-in-new-tank-house-at-ronnskar,c3947116 The CMD presentation slide deck is already available on Boliden’s website, with the Rönnskär investment detailed at the beginning. Link (pdf):  https://investors.boliden.com/sites/boliden-ir/files/Investing_in_long-term_sustainable_profitability.pdf Additional information on the slide shows the start of construction work is in May of this year.    2024 is likely not expected to be very good. For Q1, the ongoing strikes in Finland add their own impact to the start of the year, as seen on page 18 of the CMD presentation.  At the Capital Markets Day, interest will likely focus more on expectations for 2025 and 2026. The company has several investment projects underway at many sites, such as the Odda expansion. Boliden expects 2024 investments to be 15.5 billion SEK, which is 1.5 billion SEK more than previously estimated.  According to the release, more details will also be provided at the event regarding the low-carbon nickel developed by Boliden.

My interest in this company was piqued over in the raw materials thread (discussions about the price increases of rare Ge and Ca elements), and at first glance, it seems like a very interesting company. It is a company generating quite nice cash flow, especially when considering that they have also made significant investments in the business. Furthermore, when looking at the history of return on invested capital, this looks very attractive:   The valuation doesn’t seem stretched at all, either. Of course, the fire at Rönnskär brought a clear drop in the price. But it seems its impact will remain relatively small for this year: Press releases - Boliden SEK 200m Q2 EBIT impact and a SEK 88m write-down on the balance sheet. Are there any estimates regarding the contribution of different minerals to the company’s results? Have there been any signs yet of a premium in product prices offered by green production? I need to study the company’s materials in more detail, but based on this quick look, it will likely end up as a watchlist position.

It’s looking bad. There could be significant pressure on earnings performance.

Google translation - The fire that occurred at Rönnskär on Tuesday evening, combined with the lower quality of the crushed copper and nickel at Kevitsa, will impact the second quarter operating profit by an estimated 700 million SEK, Boliden states in a press release.            Dagens industri – 13 Jun 23              Dubbelsmäll mot Boliden – vinstvarnar för andra kvartalet    Branden som uppstod natten till tisdagen i Rönnskärsverken i kombination med lägre kvalitet på bruten koppar och nickel i Kevitsa kommer att påverka…

Can anyone more knowledgeable advise how this Boliden share split works in practice? Apparently, they automatically redeem them at 11.50 SEK. “split shares” The dividend of 15 SEK per share already arrived in the account earlier. A peculiar capital shuffle…            boliden.com              the-boards-proposal-regarding-automatic-share-redemption_final.pdf    135.63 KB

Boliden

As previously communicated, the abnormal seismic activity at the Garpenberg mine in March caused major damage. Mining positions in the Garpenberg mine are located in three separate ore bodies...

As previously communicated, the abnormal seismic activity at the Garpenberg mine in March caused major damage. Mining positions in the Garpenberg mine are located in three separate ore bodies, with the Lappberget ore body being the dominant one. Major damage has been observed in the upper parts of Lappberget. Furthermore, a significant amount of media such as ventilation, pressure air systems, water management and infrastructure for electricity and backfill paste as well as some mobile equipment have been damaged. Consequently, Boliden is required to write down the book value of impacted assets by a total of SEK 700 m, which will have a negative impact on the operating profit in the first quarter 2026. The write-down concerns underground developments and other mining assets in the upper part of the Lappberget ore body, as well as mobile equipment.As indicated in an earlier press release, March 25 2026, the stopped production will have a negative impact on EBITDA in the first quarter of approximately SEK 400 m.For further information, please contact:Klas NilssonDirector Group Communications+46 70&nbsp;453 65 88Klas.Nilsson@boliden.com<div></div>