Nordic Iron Ore (NIO) Q1 2026 earnings summary

Executive summary

• Focused on developing ultra high-grade iron ore concentrate with low carbon footprint, targeting green steelmaking and by-product apatite concentrate for the green transition.

• Expanded pre-feasibility study to include Södra Väsmanfältet and apatite concentrate, aiming to increase production potential and profitability.

• Completed the most extensive drilling program at Blötberget, with promising intersections and increased mineral resource potential.

Financial highlights

• Sales for Q1 2026 were SEK 0 million, unchanged from the previous year.

• Net loss after tax was SEK -4.3 million, an improvement from SEK -6.1 million in Q1 2025.

• Investments totaled SEK 8.2 million, mainly in exploration and examination for Blötberget.

• Cash and cash equivalents at quarter-end were SEK 22.2 million, down from SEK 103.2 million a year earlier.

Outlook and guidance

• Expanded pre-feasibility study results, including updated mineral resource estimates, expected in Q3 2026.

• Continued focus on developing Blötberget and Södra Väsmanfältet to enhance long-term value and production.