Lovisagruvan (LOVI) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 reached 10.0 MSEK, a significant increase from 0.0 MSEK in Q2 2025, with a return to positive operating and net results after a loss-making prior year.

• Production and deliveries were impacted by a temporary customer storage request, but normal delivery pace resumed after the quarter.

• The company is focused on test deliveries and evaluating long-term agreements, with ongoing development projects and exploration activities.

Financial highlights

• Q2 2026 operating income before depreciation (gruvresultat) was 4.4 MSEK, up from -10.1 MSEK year-over-year.

• Operating income after depreciation was 2.7 MSEK (vs. -11.9 MSEK), with a 27% operating margin.

• Net income for Q2 was 2.3 MSEK (vs. -12.0 MSEK), and EPS was 0.46 SEK (vs. -2.43 SEK).

• For H1 2026, revenue was 13.5 MSEK (vs. -1.4 MSEK), with a net result of -0.6 MSEK (vs. -16.2 MSEK).

• Cash flow from operations in H1 was 8.2 MSEK (vs. -14.5 MSEK), with no new investments.

Outlook and guidance

• Test deliveries have shown promising preliminary results, and discussions for a continued supply agreement are planned.

• New Swedish mineral strategy is expected to improve permitting and competitiveness, supporting future growth.

• Production optimization and alternative strategies are being explored to enhance long-term sustainability.