Boliden AB (BOL) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.616 Ladies and gentlemen, I'd like to welcome you to Boliden's Q1 2026 00:00:04.616 -- 00:00:06.679 results presentation. 00:00:06.679 -- 00:00:10.843 My name is Olof Grenmark and I'm Head of Investor Relations. 00:00:10.843 -- 00:00:16.810 Today we will have a results presentation led by our President and CEO Mikael Staffas 00:00:16.810 -- 00:00:20.334 and our CFO Håkan Gabrielsson. 00:00:20.334 -- 00:00:24.218 We will also have a Q&A session led by the operator. 00:00:24.218 -- 00:00:27.079 Mikael, welcome. 00:00:27.790 -- 00:00:31.074 Thank you, Olof, and welcome to all of you. 00:00:31.074 -- 00:00:34.138 We are welcoming you from Askersund. 00:00:34.138 -- 00:00:38.924 For those of you who are maybe non-Swedes and wonder where that is, that is the closest 00:00:38.924 -- 00:00:42.068 bigger municipality to Zinkruven. 00:00:42.068 -- 00:00:46.914 We will have our AGM here in a couple of hours, following the tradition that we try to 00:00:46.914 -- 00:00:50.399 have our AGMs close to our operating sites. 00:00:50.399 -- 00:00:55.550 Now, regarding the quarter, the highlight for the quarter is that we've had a 00:00:55.550 -- 00:01:00.948 a good production quarter. We're coming in with an EBIT 00:01:00.948 -- 00:01:06.380 excluding the process inventory revaluation of around 4.4 00:01:06.407 -- 00:01:11.778 billion Swedish kronor. and also a strong cash flow, also considering 00:01:11.778 -- 00:01:17.349 that Q1 is normally a relatively weak cash flow quarter. 00:01:17.349 -- 00:01:22.860 We've had solid performance in both of our operating units, so we've had it in 00:01:22.860 -- 00:01:25.245 mines and in smelters. 00:01:25.245 -- 00:01:30.455 And then on top of that, we have strong metal prices, and with our business model with 00...