Boliden Q1 Profit Beats 9% Despite Disruption

Operating profit rose to 4.4 bn SEK, beating consensus of ~4.1 bn SEK by about 9%, and net profit reached 3.8 bn SEK.
Smelting segment delivered 1.3 bn SEK profit, offsetting weaker mining profit of 3.1 bn SEK due to lower volumes and a 700 m SEK impairment.
March seismic event at Garpenberg halted operations, cutting 2026 volume guidance to 1.5 m tonnes and lowering zinc grade to 2.7%.
Free cash flow before acquisitions reached 1.7 bn SEK versus 0.4 bn SEK forecast; net debt fell to 14.3 bn SEK, ~3% below expectations.