BDNNY - Boliden AB (publ) (BDNNY) Q4 2023 Earnings Call Transcript
2024-02-08 19:21:03 ET
Boliden AB (publ) (BDNNY)
Q4 2023 Results Conference Call
February 08, 2024 03:30 AM ET
Company Participants
Olof Grenmark - Head of Investor Relations
Mikael Staffas - President and Chief Executive Officer
Håkan Gabrielsson - Chief Financial Officer
Conference Call Participants
Christian Kopfer - Handelsbanken
Johannes Grunselius - Norske Bank
Ola Soedermark - Kepler Cheuvreux
Igor Tubic - Carnegie
Adrian Gilani - ABG Sundal Collier
Viktor Trollsten - Danske Bank
Ioannis Masvoulas - Morgan Stanley
Jason Fairclough - Bank of America
Krishan Agarwal - Citigroup
Amos Fletcher - Barclays
Presentation
Operator
Ladies and gentlemen, I'd like to welcome you to Boliden's Q4 2023 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, Håkan Gabrielsson.
We will also have a Q&A session, where we will start here in Stockholm. Mikael, welcome.
Mikael Staffas
Thank you, Olof, and good morning, everybody. I would like to start by actually talking not about the last quarter, but about the last 100 years. As most of you already know, we are taking our 100-year celebration this year. Our official birthday, if you want to use that sense, is actually in December. So we're not quite 100 years yet, but we're going to take the opportunity to celebrate this the whole year and maybe to then top it off with the biggest celebration in December.
We are quite proud about the history that we do have, how we've been able to, during this 100 years, be very much a part of developing the societies where we are active. So with that in mind, let's talk about also the very recent past about the last quarter.
The key highlight is that if you compare to last year, of course, the prices and terms are quite a lot weaker. We'll come into more details around this, but it's especially zinc and nickel that is weaker, is also weaker sequentially compared to the previous quarter. We are, to some extent, saved by the weak Swedish krona for the Swedish operation, but the euro is relatively strong compared to the dollar. So there's no help in the euro-based operations that we do have.
We have lower volumes in Ronnskar, but that's in line with what should be expected given that we do operate without a tank house. And the operations in Ronnskar, you can see, is now in a full mode, given the fact that we don't have a tank house as operational. We had no production in Tara due to the care and maintenance, which has also been well communicated beforehand.
You can see we have a stable production in all of our mines, except Aitik, where we did have an unplanned maintenance stop that caused a stop in the mills for several weeks. That is now solved, and it was also communicated well in advance. We have a strong production in Finland. And our finished smelters, Harjavalta and especially Kokkola, has had very good quarters....
Boliden AB (publ) (BDNNY) Q4 2023 Earnings Call Transcript