Swedish iron ore producer LKAB has issued its financial and operational results for the first quarter of this year.
In the given quarter, the company registered a net profit of SEK 2.78 billion ($288.94 million), compared to a net profit of SEK 1.74 billion in the first quarter of 2024, while its sales revenues increased by 75.9 percent year on year to SEK 9.62 billion ($999.73 million), mainly due to higher deliveries. In addition, LKAB recorded an operating profit of SEK 3.64 billion ($378.22 million) in the same quarter, compared to an operating profit of SEK 1.37 billion in the corresponding quarter of 2024.
In the same quarter, the company’s iron ore output amounted to 6.6 million mt, dropping by 1.5 percent year on year, while its iron ore shipments grew by 116.7 percent year on year to 6.5 million mt. Its shipments were affected by the derailments on the iron ore railway last year.
