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Year-end report 2013 for the LKAB corporation

The Year-end Report 2013 and Interim Report for Q4 2013 was published on the 14th of February.

Comments and results for the corporation

“I wish to express deep gratitude to LKAB’s workforce, who with enthusiasm managed to turn things around during the year. Preventive maintenance work will continue to be in sharp focus in 2014 in order to stabilize availability at a high level of production. This is the key to attaining our goals and the core of the extensive work being done to lower LKAB’s costs, which will secure our long-term competitiveness,” says LKAB President and CEO Lars-Eric Aaro.

January – December 2013
• Net sales totalled MSEK 23,656 (26,971).
• Operating profit was MSEK 7,639 (10,589).
• Profit before tax was MSEK 7,768 (10,977).
• Profit for the period amounted to SEK 6,032 Million (8,753).
• Operating cash flow totalled MSEK 2,434 (5,470).
• Deliveries of iron ore totalled 25.5 (26.3) MT.

Comments LKAB Minerals

Bob Boulton, CEO of LKAB Minerals comments “Several of our key European markets are directly or indirectly affected by the construction market meaning we found 2013 to be a challenging year resulting in lower deliveries and net sales than anticipated. We are however pleased to see a strong trend for some of our unique and high value products where we have invested in R&D and market development. This is particularly true of Asia; the outlook for 2014 is also very promising for the higher volume off-shore business and there are clear signs of a recovery of the European construction market.”

Read the report