Worse year for Kaunis Iron

Pajala The iron ore company Kaunis Iron, in Pajala in the north of Sweden, decreased its turnover and worsened its result in 2022 compared to the previous year. But still makes a strong result.

Net sales in 2022 were SEK 2.7 billion (SEK 2.9 billion in 2021). Operating profit was SEK 821 million (1,245 million). Profit before tax 691 million (982).

Revenues and earnings are highly dependent on iron ore prices. The first half of the year was very strong but the second half saw a sharp deterioration. Results were also affected by higher costs for fuel, explosives and other inputs.

At the same time, iron ore slurry production was the highest ever since the start in 2018. A total of 2.27 million tonnes of iron ore products were produced.

- We were able to produce and deliver the right quality and quantity of product to our customers. We have overcome the financial challenges we faced and are having another good and profitable year. This is important to us. For the community in which we operate. And, yes, for Sweden's green industrial transformation, says CEO Klas Dagertun in a comment on the financial statements.

Kaunis Iron is the largest private company in the sparsely populated municipality of Pajala and is very important to the community.

Lennart Håkansson

editor@northswedenbusiness.com