LKAB halved its profit

This is stated in the year-end report published by the company this week.

Net sales amounted to SEK 33.1 billion compared to SEK 42.9 billion the previous year. Operating profit was SEK 8.7 billion compared to SEK 16.2 billion in 2023.

The decrease in sales and profit is due to production stops due to maintenance measures, lower production, lower iron ore prices and the long stoppage on the ore line Malmbanan due to train derailments at the beginning of the year.

“After this year’s setbacks with the derailments on the Iron Ore Line, falling iron ore prices and major production problems, it feels good to end the year with the highest delivery volume for the year and with all production plants up and running again. We have now implemented extensive actions to significantly improve production stability going forward,” says CEO Jan Moström, in a comment.

The Board of Directors proposes to the Annual General Meeting that the ordinary dividend should amount to SEK 4.4 billion, which is 50% of the profit for the year.

Lennart Håkansson

editor@northswedenbusiness.com