Swedish iron ore producer LKAB has issued its financial and operational results for the third quarter and first nine months of this year.
In the third quarter, the company registered a net loss of SEK 1.85 billion ($197.26 million), compared to a net profit of SEK 2.12 billion in the third quarter of 2024, while its sales revenues decreased by 9.5 percent year on year to SEK 7.58 billion ($803.35 million). In addition, LKAB recorded an operating loss of SEK 2.42 billion ($258.07 million), compared to an operating profit of SEK 2.07 billion in the corresponding quarter of the previous year.
In the given quarter, the company’s iron ore output amounted to 6.9 million mt, rising by 40.8 percent, while its iron ore shipments grew by 5.1 percent to 6.2 million mt, both on year-on-year basis.
Meanwhile, in the January-September period, the net profit of LKAB amounted to SEK 2.45 billion ($261.20 million), falling from the net profit of SEK 6.70 billion recorded in the same period of the previous year, while its sales revenues fell by 5.6 percent year on year to SEK 25.02 billion ($2.67 billion). The company’s operating profit for the first nine months of the year came to SEK 2.29 billion ($244.11 million), compared to the operating profit of SEK 6.10 billion in the same period of 2024.
In the given period, the iron ore output of LKAB amounted to 19.4 million mt, rising by 14.8 percent, while its iron ore shipments went up by 23.7 percent to 18.8 million mt.