November 26, 2014 2:59 AM 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

4,564 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 Parent Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reports Production Results for the Third Quarter and Nine Months Ended September 30, 2014

Luossavaara-Kiirunavaara AB reported consolidated and parent earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, on consolidated basis, net sales were SEK 4,943 million, compared to SEK 6,526 million a year ago. Operating loss was SEK 1,164 million, compared to profit of SEK 2,752 million a year ago. Loss before tax was SEK 1,195 million, compared to profit of SEK 2,815 million a year ago. Loss attributable to parent company shareholders was SEK 979 million compared to profit of SEK 2,201 million a year ago. Cash flow from operating activities was SEK 472 million, compared to SEK 2,246 million a year ago. Acquisition of property, plant and equipment was SEK 1,457 million, compared to SEK 1,405 million a year ago. For the nine months, on consolidated basis, net sales were SEK 15,810 million, compared to SEK 17,309 million a year ago. Operating profit was SEK 366 million, compared to SEK 5,646 million a year ago. Profit before tax was SEK 512 million, compared to SEK 5,757 million a year ago. Profit attributable to parent company shareholders was SEK 364 million or SEK 520 per share before and after dilution, compared to SEK 4,482 million or SEK 6,403 per share before and after dilution a year ago. Cash flow from operating activities was SEK 5,630 million, compared to SEK 5,504 million a year ago. Acquisition of property, plant and equipment was SEK 3,856 million, compared to SEK 4,419 million a year ago. Return on equity was 4.9% compared to 14.6% a year ago. For the quarter, on parent basis, net sales were SEK 4,481 million, compared to SEK 6,051 million a year ago. Operating loss was SEK 1,327 million, compared to profit of SEK 2,537 million a year ago. Loss before tax was SEK 1,188 million, compared to profit of SEK 2,653 million a year ago. Loss for the period was SEK -46 million, compared to profit of SEK 2,062 million a year ago. For the nine months, on parent basis, net sales were SEK 14,545 million, compared to SEK 15,939 million a year ago. Operating loss was SEK 82 million, compared to operating profit of SEK 5,077 million a year ago. Profit before tax was SEK 322 million, compared to SEK 5,503 million a year ago. Profit for the period was SEK 240 million, compared to SEK 4,291 million a year ago. Return on equity was 0.7% against 7.6% a year ago. For the quarter, production was 6.3 Mt compared to 6.7 Mt a year ago. Deliveries were 6.7 Mt compared to 6.8 Mt a year ago. Proportion of pellets was 80% compared to 81% a year ago. For the nine months, production was 18.9 Mt compared to 18.5 Mt a year ago. Deliveries were 19.3 Mt compared to 18.9 Mt a year ago. Proportion of pellets was 84% compared to 84% a year ago.

Luossavaara-Kiirunavaara AB, Q2 2014 Earnings Call, Aug 15, 2014

Luossavaara-Kiirunavaara AB, Q2 2014 Earnings Call, Aug 15, 2014

Luossavaara-Kiirunavaara AB Reports Consolidated and Parent Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Announces Group Operating Results for the Second Quarter and Six Months Ended June 30, 2014

Luossavaara-Kiirunavaara AB reported consolidated and parent earnings results for the second quarter and six months ended June 30, 2014. For the quarter, on consolidated basis, net sales were SEK 4,908 million, compared to SEK 5,460 million a year ago. Operating loss was SEK 417 million, compared to profit of SEK 1,366 million a year ago. Loss before tax was SEK 319 million, compared to profit of SEK 1,383 million a year ago. Loss attributable to parent company shareholders was SEK 247 million or SEK 353 per share before and after dilution, compared to profit of SEK 1,050 million or SEK 1,500 per share before and after dilution a year ago. Cash flow from operating activities was SEK 1,951 million, compared to SEK 2,460 million a year ago. Acquisition of property, plant and equipment was SEK 1,308 million, compared to SEK 1,916 million a year ago. Acquisition/divestment of financial assets was SEK 298 million, compared to SEK 3,234 million a year ago. Profit from financial items increased compared to the same period last year mainly due to improved exchange rate gains/losses resulting from a weaker Swedish currency (SEK). For the six months, on consolidated basis, net sales were SEK 10,867 million, compared to SEK 10,783 million a year ago. Operating profit was SEK 1,530 million, compared to SEK 2,893 million a year ago. Profit before tax was SEK 1,707 million, compared to SEK 2,941 million a year ago. Profit attributable to parent company shareholders was SEK 1,343 million or SEK 1,919 per share before and after dilution, compared to SEK 2,281 million or SEK 3,259 per share before and after dilution a year ago. Cash flow from operating activities was SEK 5,158 million, compared to SEK 3,258 million a year ago. Acquisition of property, plant and equipment was SEK 2,398 million, compared to SEK 3,014 million a year ago. Acquisition/divestment of financial assets was SEK 971 million, compared to SEK 1,115 million a year ago. Return on equity was 13.3% as on June 30, 2014, compared to 16.2% as on June 30, 2013. The decrease in operating profit during the first six months was primarily due to increased provisions for urban transformation in Kiruna arising from the agreement with the municipality. For the quarter, on parent basis, net sales were SEK 4,479 million, compared to SEK 4,944 million a year ago. Operating loss was SEK 570 million, compared to profit of SEK 1,188 million a year ago. Loss before tax was SEK 386 million, compared to profit of SEK 1,504 million a year ago. Loss for the period was SEK 284 million, compared to profit of SEK 1,178 million a year ago. For the six months, on parent basis, net sales were SEK 10,064 million, compared to SEK 9,888 million a year ago. Operating profit was SEK 1,246 million, compared to SEK 2,540 million a year ago. Profit before tax was SEK 1,510 million, compared to SEK 2,850 million a year ago. Profit for the period was SEK 1,186 million, compared to SEK 2,228 million a year ago. Return on equity was 9.1% as on June 30, 2014, compared to 9.0% as on June 30, 2013. For the quarter, production was 6.0 Mt compared to 5.7 Mt a year ago. Deliveries were 6.0 Mt compared to 5.8 Mt a year ago. Proportion of pellets was 83% compared to 85% a year ago. For the six months, production was 12.6 Mt compared to 11.9 Mt a year ago. Deliveries were 12.6 Mt compared to 12.1 Mt a year ago. Proportion of pellets was 85% compared to 86% a year ago.

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