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Interim report quarter two 2014

Demand for LKAB’s climate-smart products is expected to remain good, while the global price of iron ore is now established at a lower level. Lower iron ore prices combined with major provisions for urban transformation will lead to lower profits and cash flow for the second six months compared to the first six months.

Demand for LKAB’s climate-smart products is expected to remain good, while the global price of iron ore is now established at a lower level. Lower iron ore prices combined with major provisions for urban transformation will lead to lower profits and cash flow for the second six months compared to the first six months. Accordingly, higher productivity, increased volumes from new mines and responsible urban transformation are crucial for LKAB’s long-term competitiveness.

Operating profit for the quarter before expenses for urban transformation amounted to MSEK 858 (1,498). The year-on-year differences are primarily due to lower iron ore prices.

APRIL – JUNE
• NET SALES TOTALLED MSEK 4,908 (5,460)
• THE OPERATING LOSS WAS MSEK -417 (1,366)
• OPERATING PROFIT BEFORE EXPENSES FOR URBAN
TRANSFORMATION WAS MSEK 858 (1,498)
• THE LOSS BEFORE TAX WAS MSEK -319 (1,383)
• THE LOSS FOR THE PERIOD WAS MSEK -247 (1,050)
• OPERATING CASH FLOW WAS MSEK 643 (554)
• DELIVERIES OF IRON ORE TOTALLED 6.0 (5.8) MT

Read the report here.