Impact on Boliden from political strike in Finland

STOCKHOLM, March 11, 2024 /PRNewswire/ -- A number of trade unions have announced a two-week long political strike in Finland starting March 11, 2024. The strike is politically motivated and does not involve Boliden as a negotiating party. The direct industrial actions at Boliden's operations are limited, however, Boliden is heavily indirectly affected by industrial actions in Finland's harbors and railroad system. Boliden will try to limit the impact on its customers.

If the strike goes through as announced, it is estimated that Boliden's operating profit in the first quarter 2024 will be negatively affected by approximately SEK 300 million, whereof SEK 100 million are due to reduced production and SEK 200 million due to delayed deliveries to customers. The SEK 200 million due to delayed deliveries is a temporary effect and is expected to be regained during the second quarter. The negative cash flow impact during the first quarter is estimated to SEK 500 million, mainly due to a temporary increase of working capital.  

For further information, please contact:
Klas Nilsson, Director Group Communications, phone: +46 70-453 65 88 
[email protected]  

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SOURCE Boliden