Boliden stock: Q3 operating profit rises to SEK 5.416 billion

Boliden reported a sharp improvement in third-quarter performance on Thursday, October 29, 2026. According to the company's Q3 results release, operating profit rose to SEK 5.416 billion from SEK 3.237 billion in the year-earlier period.

Higher prices support quarterly profit

Operating profit excluding process inventory revaluation increased to SEK 4.894 billion from SEK 2.752 billion. Boliden attributed the stronger quarter to improved prices and terms, stable production in its Mines and Smelters divisions, and operational progress at several facilities.

Revenue reached SEK 30.442 billion, compared with SEK 21.971 billion a year earlier. Earnings per share rose to SEK 13.69 from SEK 8.07, while free cash flow declined to SEK 1.121 billion from SEK 2.284 billion.

Mines and smelters show mixed drivers

Somincor delivered strong production, while Kevitsa recorded a new high for milled volume. Garpenberg improved according to plan, and Harjavalta achieved a record level of nickel feed. Boliden also reported significantly better availability at the new roaster in Odda toward the end of the quarter.

The company lowered its 2026 grade guidance for Aitik but raised its milled-volume guidance. Major investment projects continued to progress, with the Rönnskär tankhouse approaching ramp-up.

Nexa transaction remains a key milestone

Boliden agreed to acquire 64.68% of Nexa Resources. After closing, the company intends to launch a voluntary cash offer for Nexa shares that it does not acquire through the agreement. The transaction adds a corporate development element to the operating momentum highlighted in the quarterly report.

Boliden's business and market position

Boliden is a Swedish metals producer active in exploration, mining, smelting and recycling. Its operations supply metals for industrial and societal needs, with activities centered in Europe. The company describes itself as one of Europe's leading metal producers and has around 8,000 employees.

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