Year-end report 2025

Net sales for the year amounted to SEK 1,769 million, compared with SEK 1,805 million the previous year. The full-year result was SEK -639 million, largely impacted by an impairment related to previous investments in waste rock mining of SEK 536 million, corresponding to SEK 426 million after tax. Excluding this item, the year’s result amounted to SEK -213 million. Despite the negative result, cash flow remained positive for the full year. Total production reached 1,900 kton.

Linus Styrman, CFO, Kaunis Iron:
“The global developments during the year have created changed conditions for our operations. The combination of a weaker dollar and lower production has had a clear impact on both revenue and output. In this context, our focus has been on strengthening cash flow and adjusting the cost base to prevailing market conditions.

The efficiency measures initiated at the end of 2024, together with additional initiatives during the year, have contributed to a significant reduction in the company’s operating costs. The planned reduction of waste rock production in the last quarter of the year has simultaneously improved the cost per ton and contributed to strengthened cash flow.”

Klas Dagertun, CEO, Kaunis Iron:
“The fact that our environmental permit has now gained legal force creates conditions for long-term mining operations in Tornedalen. In parallel, a strategic initiative has been launched focusing on how the permit can be managed and developed in the best possible way. This work includes analyses of alternative logistical solutions, a clearer positioning towards the European green steel industry, and opportunities to move operations along the value chain.”