Boliden falls on Q1 profit miss amid lower prices, output

Boliden AB

25/04/2023 08:17

** Shares in Boliden  BOL.ST  fall more than 5% after the
Swedish copper miner posted Q1 adjusted operating profit below
market estimates, citing production challenges
    ** Boliden posts Q1 adjusted EBIT of 3.02 billion Swedish
crowns ($294.60 million), 29% below consensus cited by RBC
    ** The company says production disruptions and unfavourable
weather conditions led to lower volumes in some mines
    ** "We expect consensus downgrades on the back of today's
release driven by weaker operational performance across the
mines and smelters," RBC analysts say
   ** The broker adds weaker operational momentum poses a threat
to the company's capex programme
    ** The Boliden shares are among top fallers on Europe's
STOXX 600 index  .STOXX 

($1 = 10.2511 Swedish crowns)

 (Reporting by Boleslaw Lasocki)
 ((boleslaw.lasocki@tr.com))