Even though Boliden’s Q1 17 results reflected the continuation of strong (zinc) price improvements (similar to Q4 16), its profitability fell short (8-12%) of consensus estimates. Sales were up 44% yoy (and 4.9% qoq) to SEK12.7bn, on the back of materially high realised zinc (+66%) and copper (+25%) prices. Remember, the commodity market recovery was still in its infancy in Q1 16. Although the sequential gains were capped as free metal volumes reverted to normalised levels after an extr
27 Apr 2017
Another strong quarter, though sequential performance moderated
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Another strong quarter, though sequential performance moderated
Even though Boliden’s Q1 17 results reflected the continuation of strong (zinc) price improvements (similar to Q4 16), its profitability fell short (8-12%) of consensus estimates. Sales were up 44% yoy (and 4.9% qoq) to SEK12.7bn, on the back of materially high realised zinc (+66%) and copper (+25%) prices. Remember, the commodity market recovery was still in its infancy in Q1 16. Although the sequential gains were capped as free metal volumes reverted to normalised levels after an extr