Boliden AB (BLS:TSX)

Boliden AB reported earning results for the third quarter ended September 2009. For the period, the company reported revenues of SEK 6,960 million compared to SEK 7,513 million for the same period of the last year. The operating profit totaled SEK 949 million compared to operating loss of SEK 142 million for the same period of the last year. The operating profit, excluding revaluation of process inventory, increased to SEK 734 million compared to SEK 125 million for the same period of the last year. The profit improvement includes SEK 142 million generated by temporarily higher grades. The free cash flow totaled SEK 610 million compared to free cash out flow of SEK 117 million for the same period of the last year. Earnings per share totaled SEK 2.50 compared to loss per share of SEK 0.49 for the same period of the last year.

Boliden AB reported consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net profit of SEK 684 million and net profit attributable to the parent's company shareholders of SEK 683 million against net loss and net loss attributable to the parent's company shareholders of SEK 135 million for the same period a year ago. Cash flow from operating activities of SEK 1,695 million compared to SEK 1,044 million for the same period a year ago. For the nine months, the company reported net profit of SEK 1,680 million and net profit attributable to the parent's company shareholders of SEK 1,678 million or SEK 6.14 per share on revenue of SEK 19,279 million against net profit and net profit attributable to the parent's company shareholders of SEK 1,386 million or SEK 5.07 per share on revenue of SEK 24,700 million for the same period a year ago. Operating profit of SEK 949 million compared to operating loss of SEK 142 million for the same period a year ago. Cash flow from operating activities of SEK 2,352 million compared to SEK 4,466 million for the same period a year ago.

Boliden AB former Exploration Director, Pierre Heeroma has been appointed Director Group Strategy and Business Development. Pierre Heeroma joined Boliden as Exploration Director in 2006 after a career within geology and exploration both in Sweden and abroad. Hans Areback will succeed Pierre Heeroma as Exploration Director for Boliden. Hans Areback, a trained bedrock geologist, has been employed at Boliden since 1997, including, among other positions, as an exploration geologist. Eva Kaijser, SVP Strategy and Business Development and a member of the Group's management team, has chosen to leave Boliden.