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Boliden
Boliden (BOL) investor relations material
Boliden Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary29 Oct, 2026
Executive summary
Revenue rose to SEK 30,442m from SEK 21,971m; operating profit excluding PIR increased to SEK 4,894m from SEK 2,752m, supported by stronger metal prices and terms.
Production was stable across Mines and Smelters; Garpenberg’s lower production rate weighed on year-on-year volumes as its ramp-up continued.
An agreement to acquire a controlling 64.68% stake in Nexa Resources is expected to close in Q1 2027, subject to shareholder and regulatory approvals.
Financial highlights
Revenue was SEK 30,442m vs SEK 21,971m; operating profit was SEK 5,416m vs SEK 3,237m, including SEK 522m from process-inventory revaluation.
Operating profit excluding PIR was SEK 4,894m vs SEK 2,752m; operating profit before depreciation and amortization excluding PIR was SEK 7,282m vs SEK 5,125m.
Net profit was SEK 3,888m vs SEK 2,294m; EPS was SEK 13.69 vs SEK 8.07.
Free cash flow was SEK 1,121m vs SEK 2,284m; working capital reduced cash flow by SEK 1,047m, compared with a SEK 1,575m inflow a year earlier.
9M revenue totaled SEK 83,997m vs SEK 65,378m; adjusted operating profit excluding inventory revaluation was SEK 12,198m vs SEK 6,632m.
Outlook and guidance
2026 group capex guidance remained SEK 15.5bn; mine sustaining investment guidance increased to SEK 7bn from SEK 6.5bn.
Aitik 2026 copper-grade guidance fell to 0.16% from 0.18%, while milled-volume guidance rose to 42M tonnes from 41M tonnes.
Planned smelter maintenance is expected to reduce 2026 operating profit by SEK 500m, including SEK 100m in Q4, versus prior estimates of SEK 450m and SEK 50m.
Garpenberg 2027 milled-volume guidance is 2.3M tonnes; full-year 2027 guidance is scheduled for December 8, 2026.
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Latest events from Boliden
- Record earnings meet a SEK 5bn Aitik dam challenge and rising costs.BOL
Q1 2022 - Acquisition creates a top global zinc and silver leader with immediate EPS growth and LatAm entry.BOLM&A announcement
- Major capex projects and sustainability initiatives drive growth and emissions reduction.BOLInvestor presentation
- Q3 2024 saw record production, major project progress, and strong sustainability focus.BOLInvestor presentation
- Strong Q4 results, major expansions, and ambitious climate targets drive long-term growth.BOLInvestor presentation
- Strong Q1 2025 results, major acquisitions, and progress on sustainability and expansion projects.BOLInvestor presentation
- Q2 2025 delivered strong mine output, robust sustainability gains, and stable financials.BOLInvestor presentation
- Record mine output and high metal prices fueled strong Q3 2025 results amid ongoing ESG progress.BOLInvestor presentation
- Strong Q4 2025 results, robust growth, and sustainability drive a positive outlook for 2026.BOLInvestor presentation
Next Boliden earnings date
Q4 20263 Feb, 2027
Boliden
Next Boliden earnings date
Q4 20263 Feb, 2027
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Frequently asked questions
Boliden AB, headquartered in Stockholm, Sweden, engages in the exploring, extracting, and processing of base metals and precious metals. It operates through five business areas: Copper, Gold, Silver, Iron Ore, and Energy. The Copper segment explores and extracts copper concentrate from the Falun mine. The Gold segment is engaged in exploring, extracting and processing gold in the Västergötland and Kalix Lake districts of Sweden. The Silver segment is engaged in exploring and producing silver from the Ragunda mine. The Iron Ore segment produces iron ore concentrate from Luleå mine in Sweden. The Energy segment mines coal at Gellivare mine in Sweden for use at its power stations. Boliden also focuses on a range of other activities including logistics services for its own needs as well as customers from neighboring industries located abroad; storage facilities for carbon dioxide; forestry; distributing compressed air; auto repair services; electronics trading; powder coating services; brewery; hotel activities; restaurants for company employees; barber's salons for company employees' families; dry cleaning services for company employees' uniforms; catering services for company employees' parties, among others.