Boliden acknowledged on March 11 that a number of trade unions have announced a two-week long political strike in Finland, effective March 11, 2024. The company said the strike is politically motivated and does not involve Boliden as a negotiating party.
Boliden said that while the direct industrial actions at its operations are limited, the company is heavily affected indirectly by industrial actions in Finland’s harbors and railroad system. Boliden said it will try to limit the impact on its customers.
If the strike goes through as announced, Boliden estimates its operating profit in first-quarter 2024 will be negatively affected by approximately SEK 300 million, with SEK 100 million due to reduced production and SEK 200 million due to delayed deliveries to customers. The impact caused by delayed deliveries is a temporary effect and is expected to be regained during the second quarter, Boliden said. The negative cash flow impact during the first quarter is estimated at SEK 500 million, mainly due to a temporary increase in working capital.