Boliden did well to maintain strong operating margins, with smelting – including material inventory revaluation gains, largely compensating for mining’s sluggishness. While cash flows were significantly weaker, it wasn’t a major worry. The bigger issue has been the volatility in commodity markets. Fortunately, given a well-performing mix of operating assets and ample balance sheet strength, the group’s recent share price correction opens a window of opportunity.
07 May 2019
Healthy profitability, though cash flows suffered (temporarily)
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Healthy profitability, though cash flows suffered (temporarily)
Boliden did well to maintain strong operating margins, with smelting – including material inventory revaluation gains, largely compensating for mining’s sluggishness. While cash flows were significantly weaker, it wasn’t a major worry. The bigger issue has been the volatility in commodity markets. Fortunately, given a well-performing mix of operating assets and ample balance sheet strength, the group’s recent share price correction opens a window of opportunity.