July 28, 2016 2:46 AM ET

Metals and Mining

Company Overview of Luossavaara-Kiirunavaara AB

Company Overview

Luossavaara-Kiirunavaara AB (publ) engages in the production and delivery of 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 metallurg...

Varvsgatan 45

Lulea,  971 28

Sweden

Founded in 1890

4,082 Employees

Phone:

46 7 71 76 00 00

Fax:

46 7 71 76 00 01

Key Executives for Luossavaara-Kiirunavaara AB

Chief Executive Officer and President
Age: 57
Chief Financial Officer and Senior Vice President of Finance
Age: 46
Senior Vice President of Division Special Products, Group Chief Executive Officer of LKAB Minerals AB and President of LKAB Minerals AB
Age: 57
Chief Executive Officer of LKAB Trading (Shanghai) Co., Ltd. and President of LKAB Trading (Shanghai) Co., Ltd.
Senior Vice President of Sales & Logistics and President of Ikab Malmtrafik Ab
Age: 57
Compensation as of Fiscal Year 2016.

Luossavaara-Kiirunavaara AB Key Developments

Bo Krogvig to Become New Senior Vice President, Communications at LKAB as of 1 June 2016

As of 1 June 2016 Bo Krogvig will become LKAB's new Senior Vice President, Communications, after having served as acting Senior VP Communications since 1 January. Most recently, Bo Krogvig has been responsible for Public Affairs at LKAB. Prior to that, he was employed with the business development consultancy Six Year Plan AB, where he was a senior advisor and partner. Krogvig has been an advisor since 1998, before which he served as county council commissioner and head of communications for the Social Democratic Party.

Luossavaara-Kiirunavaara AB Reports Consolidated and Company Earnings Results for the First Quarter Ended March 31, 2016

Luossavaara-Kiirunavaara AB reported consolidated and company earnings results for the first quarter ended March 31, 2016. For the period, on consolidated basis, the company’s net sales were SEK 3,768 million against SEK 4,177 million a year ago. Operating profit was SEK 171 million against SEK 375 million a year ago. Profit before tax was SEK 352 million against SEK 736 million a year ago. Profit attributable to parent company shareholders was SEK 333 million or SEK 476 earnings per share before and after dilution against SEK 607 million or SEK 866 earnings per share before and after dilution a year ago. Cash flow used in operating activities was SEK 1,146 million against cash flow from operations was SEK 1,888 million a year ago. Acquisition of property, plant and equipment was SEK 888 million against SEK 1,597 million a year ago. Underlying operating profit was SEK 507 million against SEK 599 million a year ago. For the period, the company’s net sales were SEK 2,824 million against SEK 3,851 million a year ago. Underlying operating loss was SEK 260 million against profit of SEK 503 million a year ago. Operating loss was SEK 596 million against profit of SEK 279 million a year ago. Capital expenditures in property, plant and equipment was SEK 860 million against SEK 1,405 million a year ago. Loss before tax was SEK 149 million against profit SEK 461 million a year ago. Loss for the period was SEK 78 million against profit of SEK 360 million a year ago.

LKAB Announces Earnings and Production Results for the Year 2015

LKAB announced earnings and production results for the year 2015. For the year, the company reported Net Sales were SEK 16,200 million against SEK 20,615 million a year ago. Underlying operating profit was SEK 1,548 million against SEK 4,002 million a year ago. Operating loss was SEK 7,156 million against profit of SEK 570 million a year ago. Loss before tax was SEK 7,271 million against profit of SEK 594 million a year ago. Loss for the year was SEK 5,686 million against profit of SEK 347 million a year ago. Operating cash flow was negative to SEK 2,348 million against positive of SEK 2,072 million a year ago. Return on equity was negative against 0.9% a year ago. Capital expenditure on property, plant and equipment was SEK 6,354 million against SEK 5,491 million a year ago. For the year, the company reported total production of iron ore products was 24.5 million tons against 25.7 million tons a year ago. Deliveries of iron ore products was 24.2 million tons against 26.0 million tons a year ago.

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