Boliden AB (publ) (BDNNY) Q2 2025 Earnings Call Transcript

2025-07-18 10:44:38 ET

Boliden AB (publ) (BDNNY)

Q2 2025 Earnings Conference Call

July 18, 2025, 03:30 AM ET

Company Participants

Håkan Gabrielsson - Executive VP & CFO

Mikael Staffas - President & CEO

Olof Grenmark - Director of Investor Relations

Conference Call Participants

Adrian Gilani Göransson - ABG Sundal Collier Holding ASA, Research Division

Amos Charles Fletcher - Barclays Bank PLC, Research Division

Daniel Edward Major - UBS Investment Bank, Research Division

Igor Tubic - Carnegie Investment Bank AB, Research Division

Ioannis Masvoulas - Morgan Stanley, Research Division

Krishan M. Agarwal - Citigroup Inc., Research Division

Liam Fitzpatrick - Deutsche Bank AG, Research Division

Marina Calero Ródenas - RBC Capital Markets, Research Division

Pavel Kirjanovs - BofA Securities, Research Division

Richard James Hatch - Joh. Berenberg, Gossler & Co. KG, Research Division

Presentation

Olof Grenmark

Ladies and gentlemen, I'd like to welcome you to Boliden Q2 2025 results presentation. My name is Olof Grenmark, and I'm Head of Investor Relations. Today, we will have results presentation led by our President and CEO, Mikael Staffas; and our CFO, Håkan Gabrielsson. We will also have a Q&A session, which will be led by the operator.

Mikael, welcome.

Mikael Staffas

Thank you, Olof and welcome to all of you out there as well. I hope you're doing fine. Let's get going and get to talking about the quarter and the quarterly report that we have just released. If you look at the highlights, we had a profit, excluding inventory revaluation of almost SEK 1.3 billion. There's been quite a lot of accounting going on in this quarter, and Håkan will come back and talk a little bit about those things that are affecting plus and minus. What is clear, though, is that we have a negative currency effect of about SEK 600 million compared both to last year and compared to first quarter. It happened to be the same numbers....

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