Swedish iron ore producer LKAB reported financial and operating results for the third quarter and first nine months of this year.
The company recorded a net loss of SEK 1.85 billion ($197.26 million) in the third quarter, compared with a net profit in SEK 2.12 billion in the third quarter of 2024, while its sales revenue declined by 9.5 percent year-on-year. Swedish kronor 7.58 billion ($803.35 million). In addition, LKAB recorded an operating loss of SEK 2.42 billion ($258.07 million) compared to an operating profit of SEK 2.07 billion in the corresponding quarter of the previous year.
In this quarter, production The company's iron ore totaled 6.9 million tons, up 40.8 percent, and iron ore shipments rose 5.1 percent to 6.2 million tons. mt, both on a year-on-year basis.
Meanwhile, LKAB reported net profit of SEK 2.45 billion ($261.20 million) between January and September, down from a net profit of SEK 6.70 billion recorded in the same period the previous year, and sales revenue fell 5.6 percent year on year to SEK 25.02 billion ($2.67 billion). The company's operating profit for the first nine months of the year was SEK 2.29 billion ($244.11 million), compared with an operating profit of SEK 6.10 billion for the same period in 2024.
During the period, LKAB iron ore production amounted to 19.4 million tons, an increase of 14.8 percent, and iron ore supplies increased by 23.7 percent to 18.8 million m.
