Boliden Full-Year Report 2004

STOCKHOLM, Sweden, Feb. 09, 2005 (PRIMEZONE) -- Boliden (TSE:BLS) Full-year report 2004:

New Boliden reports historically strong full-year results

Comparison between full year 2004 and full year 2003


 -- Increased production of most of the main metals.
 --  Net sales increased to SEK 17,928 million (SEK 9,545 m).
 -- The operating result rose to SEK 1,666 million (SEK -19 m).
 -- The result after financial items improved to SEK 1,200 million 
    (SEK - 251 m).
 -- The net result increased to SEK 1,055 million (SEK 13 m).
 -- Earnings per share rose to SEK 4.31 (SEK 0.12).
 -- The cash flow from operating activities totalled
 -- SEK 1,552 million (SEK 956 m).  The net debt/equity ratio has
    improved substantially to 74 per cent (147%).

Comparison between Q4 2004 and Q4 2003

- Net sales increased to SEK 4,618 million (SEK 2,583 m).

- The operating result rose to SEK 472 million (SEK -316 m).

- The result after financial items improved to SEK 313 million (SEK - 331 m).

- Financial items were negatively affected by non-recurring items totalling SEK 73 million.

- The net result increased to SEK 253 million (SEK -237 m).

- Earnings per share rose to SEK 0.98 (SEK -2.18).

Other matters



 - Boliden's refinancing of the company's bank loans for a total of 
   EUR 840 million was completed in October.
 - In December, a directed share issue aimed at international and
   Swedish investors was implemented, generating a net sum of 
   SEK 889 million for the company.
 - Boliden sold all its shares in North Atlantic Natural Resources AB 
   in December, making a capital gain of SEK 67 million.
 - In January 2005, Boliden stopped the sale of the Bergsoe lead smelter
   in Landskrona.
 - The company is expecting the result after financial items to remain
   healthy in 2005 and is also predicting a substantial improvement
   in free cash flow, bearing in mind the improvements in efficiency
   and the fact that the current healthy market situation is expected,
   by and large, to last throughout the year.
 - Boliden has created a strong position with a good platform for
   internal and external growth opportunities in the years to come.



 Contact persons for information:
 Jan Johansson, President and CEO                Tel.:   +46 8 610 16 02
 jan.c.johansson@boliden.com                     Mobile: +46 70 555 02 02
 Ulf Soderstrom, Senior VP, Group Communications Tel.:   +46 8 610 15 57
 ulf.soderstrom@boliden.com                      Mobile: +46 70 618 95 95

 Staffan Bennerdt, CFO                           Tel.:   +46 8 610 15 20
 Staffan.bennerdt@boliden.com                    Mobile: +46 70 513 61 14

See attached the complete Interim Report

www.boliden.com

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The full report

Boliden Full-Year Report 2004

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