July 12, 2014 5:18 PM ET

Metals and Mining

Company Overview of Luossavaara-Kiirunavaara AB

Company Overview

Luossavaara-Kiirunavaara AB (plc) manufactures and delivers upgraded iron ore products and services for the steel industry in Europe, the Middle East, North Africa, Asia and the United States. It operates through Mining, Minerals, and Special Businesses divisions. The Mining division mines and processes iron ore products, such as pellets and fines for use in steel production. The Minerals division develops, produces, and markets industrial mineral products, including magnetite, mica, and huntite for construction and civil engineering, polymer, paint, refractory, and foundry industries. The Special Businesses division develops and manufactures drill systems for customers in the civil engineer...

Box 952

Lulea,  971 28

Sweden

Founded in 1890

4,348 Employees

Phone:

46 7 71 76 00 00

Fax:

46 7 71 76 00 01

Key Executives for Luossavaara-Kiirunavaara AB

Group Chief Executive Officer and President
Age: 58
Chief Financial Officer
Age: 55
Acting Group Chief Executive Officer of Lkab Minerals Ab and President of Minelco Ab
Age: 49
Chief Executive Officer of Lkab Trading (Shanghai) Co.
Senior Vice President of Production & Logistics and President of Ikab Malmtrafik Ab
Age: 55
Compensation as of Fiscal Year 2014.

Luossavaara-Kiirunavaara AB Key Developments

Luossavaara-Kiirunavaara AB Reports Consolidated and Company Earnings Results for the First Quarter Ended March 31, 2014

Luossavaara-Kiirunavaara AB reported consolidated and company earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net sales of SEK 5,959 million compared to SEK 5,317 million a year ago. Operating profit was SEK 1,946 million compared to SEK 1,527 million a year ago. Profit before tax was SEK 2,026 million compared to SEK 1,558 million a year ago. Profit attributable to parent company share holders was SEK 1,590 million compared to SEK 1,759 million a year ago. Earnings per share before and after dilution were SEK 2.271 compared to SEK 1.759 a year ago. Cash flow from operating activities was SEK 3,207 million compared to SEK 797 million a year ago. Acquisition of property, plant and equipment was SEK 1,090 million compared to SEK 1,098 million a year ago. Return on equity was 14.9% compared to 16.2% a year ago. The improved operating profit in the quarter was primarily due to higher net sales, which resulted in an increase in the operating margin of 4% points. Besides the increase in net sales, the improvement was also a result of lower costs for urban transformation compared to the same period in 2013. For the quarter, on parent company basis, reported net sales of SEK 5,585 million compared to SEK 4,938 million a year ago. Operating profit was SEK 1,816 million compared to SEK 1,352 million a year ago. Profit before tax was SEK 1,896 million compared to SEK 1,347 million a year ago. Profit for the quarter was SEK 1,470 million compared to SEK 1,051 million a year ago. Return on equity was 11.7% compared to 10.7% a year ago.

Luossavaara-Kiirunavaara AB Reports Group and Parent Company Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013

Luossavaara-Kiirunavaara AB reported group and parent company earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the group reported net sales decreased by 0.5%. The decrease is broken down into these factors: volume/mix 12.7%, price +16.7% and currency effect -4.5%. The improved operating profit in the quarter is due primarily to a higher price level but is negatively affected by lower volumes (-1.0 Mt) and a lower average dollar rate. The improvement in operating profit of SEK 1,133 million in the quarter was also due to lower costs for urban transformation compared to the same period in 2012. Cash flow from operating activities was SEK 3,372 million against SEK 2,179 million a year ago. Cash flow from operating activities was positively affected by improved earnings and a tax refund of SEK 1,292 million related to prior years. Net sales were SEK 6,347 million against SEK 6,378 million a year ago. Profit before tax was SEK 1,986 million against SEK 914 million a year ago. Profit for the period was SEK 1,530 million against SEK 1,340 million a year ago. Capital expenditures in property, plant and equipment was SEK 1,722 million against SEK 1,748 million a year ago. Acquisition of property, plant and equipment was SEK 1,722 million against SEK 1,748 million a year ago. Net sales for the group were SEK 23,656 million against SEK 26,971 million a year ago. Profit before tax was SEK 7,768 million against SEK 10,977 million a year ago. Profit for the period was SEK 6,032 million against SEK 8,753 million a year ago. Capital expenditures in property, plant and equipment was SEK 6,141 million against SEK 5,808 million a year ago. Return on equity (ROE) was 14.7% against 22.2% a year ago. Net sales decreased 12% compared year-on-year. The decrease is broken down into these factors: volume/mix 3.2%, price 6.3% and currency 2.5%. Without any US dollar hedges the currency effect would have been 4.3%. Operating profit decreased 27% primarily as a result of lower volume (-0.8 Mt), lower prices and a lower average dollar rate. Costs for urban transformation were also lower in comparison with 2012 and totaled SEK 620 million against SEK 1,094 million for the full year. Cash flow from operating activities was SEK 9,423 million against SEK 10,292 million a year ago. Acquisition of property, plant and equipment was SEK 6,141 million against SEK 5,808 million a year ago. For the quarter, the parent company reported net sales were SEK 5,979 million against SEK 5,866 million a year ago. Operating profit was SEK 1,650 million against SEK 690 million a year ago. Loss before tax was SEK 42 million against SEK 1,841 million a year ago. Profit for the period was SEK 4 million against loss of SEK 1,385 million a year ago. Net sales for the quarter increased somewhat, which is due primarily to higher prices, but they were negatively affected by lower volumes (-1.0 Mt) and a lower average dollar rate. The improved operating profit in the quarter is also due to lower costs for urban transformation in 2013. For the year, the parent company reported net sales were SEK 21,918 million against SEK 25,054 million a year ago. Operating profit was SEK 6,732 million against SEK 10,083 million a year ago. Profit before tax was SEK 5,483 million against SEK 8,457 million a year ago. Profit for the period was SEK 4,312 million against SEK 6,247 million a year ago. Return on equity was 11.1% against 16.7%. Net sales for the full year decreased by 12.6% compared with the previous year. The decrease is broken down into these factors: volume/mix -3.4%, price -6.3% and currency -2.9%. The Parent company's operating profit for 2013 decreased compared with 2012. Lower costs for urban transformation impacted operating profit positively compared year-on-year.

Luossavaara-Kiirunavaara AB, Q4 2013 Earnings Call, Feb 14, 2014

Luossavaara-Kiirunavaara AB, Q4 2013 Earnings Call, Feb 14, 2014

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