Boliden AB (BOL) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, I'd like to welcome you to Boliden's Q3 2025 results presentation. My name is Olof Grenmark and I'm Head of Investor Relations. Today we will have a results presentation led by our President and CEO Mikael Staffas and our CFO Håkan Gabrielsson. We will have a Q&A session which we will start here in Stockholm. Mikael, welcome. Thank you, Olof, and welcome to all of you as well. There, the camera is coming along. So welcome to all of you as well. I say welcome from a very rainy Stockholm this morning. I hope that hopefully some of you will have a little bit better weather where you're standing than we have right here. Now, having said that, I think we have a positive results presentation ahead of us. If we just take a quick summary, I think it's no news to anybody that it's been very good prices and terms during this quarter. And as you know, those of you who have been with us for a long time know that what is most important for us regarding our results is maybe not the average prices and terms in a quarter, but price and terms at the end of the quarter because of our definitive pricing model that we have and we had good prices in the end of the quarter which is important now having said that price and terms are not everything going the right way currencies are of course against us but less than the positive development of metal prices and also metal prices is a mixed bag where gold and silver has had an enormous rally in the quarter uh Copper also strong development, whereas zinc more neutral and nickel quite an appalling development. From our side, we've had good production, solid production in our mines in general. We've had record mine production in Itik. That's not ore production, but mine production. The stripping has been very good and very...