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May 22, 2015 9:55 PM ET

Metals and Mining

Company Overview of Luossavaara-Kiirunavaara AB

Company Overview

Luossavaara-Kiirunavaara AB (publ) manufactures and delivers upgraded iron ore products and services for steelmaking in the European Union, the Middle East, North Africa, China, and the United States. It offers blast furnace and direct reduction pellets; sinter fines; and mineral products, such as magnetite, mica, and huntite. The company also provides water-powered drilling rigs and other drilling systems for use in service and hole backfilling, predrilling for injection in dams, micropiling, and geothermal energy layer drilling. In addition, it is involved in steel analysis studies, including metallographic studies, steel analysis and consultation concerning ladle metallurgy, continuous ca...

Box 952

Lulea,  971 28

Sweden

Founded in 1890

4,330 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, Senior Vice President of Treasury, Group Chief Executive Officer of Lkab Minerals Ab and President of Lkab Minerals Ab
Age: 55
Chief Executive Officer of Lkab Trading (Shanghai) Co., Ltd. and President of Lkab Trading (Shanghai) Co., Ltd.
Senior Vice President of Production & Logistics and President of Ikab Malmtrafik Ab
Age: 55
President of LKAB SA and President of LKAB SCHWEDENERZ GmbH
Compensation as of Fiscal Year 2014.

Luossavaara-Kiirunavaara AB Key Developments

LKAB Reelects Deloitte AB as Auditor

LKAB’s Annual General Meeting took place on 28 April 2015. The AGM re-elected Deloitte AB as auditor. Deloitte AB re-appointed authorised public accountant Peter Ekberg as auditor in charge.

Luossavaara-Kiirunavaara AB Announces Board Changes, Approves Dividend for the Year 2014

Luossavaara-Kiirunavaara AB announced that Leif Darner and Eva Hamilton were elected as new board members. Maud Olofsson left the Board. The AGM approved a dividend of SEK 139 million to the Swedish state for the 2014 financial year.

Luossavaara-Kiirunavaara AB Reports Consolidated and Parent Company Earnings Results for the First Quarter Ended March 31, 2015

Luossavaara-Kiirunavaara AB reported consolidated and parent company earnings results for the first quarter ended March 31, 2015. For the quarter, the consolidated company reported net sales of SEK 4,177 million against SEK 6,006 million a year ago. Operating profit SEK 375 million against SEK 1,946 million a year ago. Profit before tax was SEK 736 million against SEK 2,026 million a year ago. Profit for the period was SEK 607 million against SEK 1,590 million a year ago. Capital expenditures in property, plant and equipment was SEK 1,597 million against SEK 1,090 million a year ago. Cash flow from operating activities was SEK 1,888 million against SEK 3,207 million a year ago. Negative return on equity was 1.6% against positive return on equity of 14.9% a year ago. For the quarter, the parent company reported net sales of SEK 3,851 million against SEK 5,657 million a year ago. Operating profit was SEK 279 million against SEK 1,816 million a year ago. Profit before tax was SEK 461 million against SEK 1,896 million a year ago. Profit for the period was SEK 360 million against SEK 1,470 million a year ago. Negative return on equity was 1.0% against positive return on equity of 11.7% a year ago.

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