Apart from sustained pricing headwinds, volume weakness (due to disruptions) took a toll on Mines’ Q1 performance. The pressure was so severe the healthy Smelters performance was completely overshadowed. Although COVID-19 has further complicated the market situation, Boliden remains an attractive bet with overall balance rendered by smelting and gold sales exposure, SEK (and inflation) tailwinds and a strong balance sheet (even in current times) being key supporting factors.
30 Apr 2020
Q1 20: Mines’ weakness overshadowed Smelters’ resilience
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Q1 20: Mines’ weakness overshadowed Smelters’ resilience
Apart from sustained pricing headwinds, volume weakness (due to disruptions) took a toll on Mines’ Q1 performance. The pressure was so severe the healthy Smelters performance was completely overshadowed. Although COVID-19 has further complicated the market situation, Boliden remains an attractive bet with overall balance rendered by smelting and gold sales exposure, SEK (and inflation) tailwinds and a strong balance sheet (even in current times) being key supporting factors.