BDNNY - Boliden AB (publ) (BDNNY) Q2 2024 Earnings Call Transcript
2024-07-19 20:51:09 ET
Boliden AB (publ) (BDNNY)
Q2 2024 Earnings Conference Call
July 19, 2024 03:30 AM ET
Company Participants
Olof Grenmark - Head, IR
Mikael Staffas - President & CEO
Hakan Gabrielsson - CFO
Conference Call Participants
Adrian Gilani - ABG Sundal Collier
Ioannis Masvoulas - Morgan Stanley
Amos Fletcher - Barclays
Viktor Trollsten - Danske
Johannes Grunselius - DNB Markets
Richard Hatch - Berenberg
Daniel Major - UBS
Igor Tubic - Carnegie
Liam Fitzpatrick - Deutsche Bank
Krishan Agarwal - Citigroup
Presentation
Olof Grenmark
Ladies and gentlemen, I'd like to welcome you to Boliden's Q2 2024 Results Presentation. My name is Olof Grenmark and I'm Head of Investor Relations. Today, we will have a results presentation led by our President and CEO, Mikael Staffas; and our CFO, Hakan Gabrielsson. We will also have a Q&A session.
Mikael, welcome.
Mikael Staffas
Thank you, Olof, and good morning to all of you out there as well. Now the cameras, I think, it's moving along as well. As I said, good morning to all of you from the sunny Stockholm. I hope that you're having equally nice weather wherever you are this morning.
Let's jump into the quarter and look at the highlights of the quarter and there's been lots of moving parts and many interesting things happening during the quarter, so let me try to jump into them right away. The big thing is, of course, that we've had a big one-off insurance booking coming into our accounts of SEK2.4 billion related to the Ronnskar fire.
We've also had improvement in the prices, we had stable currencies and we've had a somewhat of a negative development on the treatment charges. We've had a very good production quarter in the smelters, in general. We've had a big maintenance quarter and the maintenance activities have more or less all of them been on time and on budget, which is a big relief, and we're now set for -- operating for another year. We have only very limited maintenance left for this season coming into Q3.
We have, on the negative side, low mill volumes in Aitik. Come back a little bit to that later, but in essence, we've had problems and issues with the ramp-up of the Liikavaara satellite pit, and we've also had issues with the availability of equipment and to some extent competition between the project in Aitik and the operations for the hauling capacity that we have.
In Garpenberg, we're very happy. We have record throughput production coming out of there. We made a decision to reopen Tara, and we've been handling lots of administration around the reopening of Tara in the quarter and getting a plan together, and now we will ramp up in the sense of getting people back and getting people retrained during Q3, and then we will eventually see some production in Q4....
Boliden AB (publ) (BDNNY) Q2 2024 Earnings Call Transcript