Swedish iron ore producer LKAB has issued its financial and operational results for the second quarter and first half of the current year.
In the second quarter, the company registered a net profit of SEK 1.52 billion ($159.05 million), compared to a net profit of SEK 2.84 billion in the second quarter of 2024, while its sales revenues decreased by 20.6 percent year on year to SEK 7.82 billion ($818.26 million) amid lower iron ore prices. In addition, LKAB recorded an operating profit of SEK 1.07 billion ($111.96 million), compared to an operating profit of SEK 2.67 billion in the corresponding quarter of the previous year.
In the given quarter, the company’s iron ore output amounted to 5.8 million mt, up 9.4 percent, while its iron ore shipments fell by 20.3 percent to 5.1 million mt, both on year-on-year basis.
Meanwhile, in the first half, the net profit of LKAB amounted to SEK 4.30 billion ($449.89 million), falling from the net profit of SEK 4.59 billion recorded in the first half of the previous year, while its sales revenues increased by 13.8 percent year on year to SEK 17.44 billion ($1.82 billion). The company’s operating profit for the first six months of the year came to SEK 4.71 billion ($492.80 million), compared to the operating profit of SEK 4.04 billion in the same period of 2024.
In the given period, the iron ore output of LKAB amounted to 12.5 million mt, increasing by 4.2 percent, while its iron ore shipments went up by 34.4 percent to 12.5 million mt.