Boliden Q4 2025 Report: Strong Metal Prices Boost Performance
- Revenues reached SEK 28,131 million, up from SEK 25,785 million.
- Operating profit excluding PIR was SEK 4,061 million, compared to SEK 3,814 million.
- Free cash flow decreased to SEK 2,689 million from SEK 4,264 million.
- Earnings per share for the full year was 33.39 SEK, down from 36.65 SEK.
Financial Performance
Boliden reported revenues of SEK 28,131 million for Q4 2025, an increase from SEK 25,785 million in the previous year. Operating profit, excluding Process Inventory Revaluation (PIR), was SEK 4,061 million, up from SEK 3,814 million. However, free cash flow decreased to SEK 2,689 million from SEK 4,264 million. Earnings per share for the full year stood at 33.39 SEK, compared to 36.65 SEK in 2024.
Production Highlights
The company achieved a new quarterly record in Mines with an operating profit of SEK 3,174 million, despite lower grades compared to the previous quarter and the same period in 2024. Aitik mine continued strong production, while Smelters maintained stable output. Harjavalta recorded a high production of copper cathodes.
Market Conditions
Stronger metal prices, particularly for precious metals, contributed positively to the financial results. The company attributes these favorable conditions to both external market factors and internal efforts over the years.
Dividend Proposal
The Board of Directors has proposed an ordinary dividend of SEK 11.00 per share, reflecting the company's financial health and commitment to shareholder returns.
Source: Boliden