Kaunis Holding publishes Annual and Sustainability Report 2024

The financial statement for 2024 reflects decreased demand and global uncertainty. 2024 resulted in a net loss for the year of SEK -205 million, with a net loss after financial items of SEK -150 million. In terms of production we ended up on 1,924 thousand tonnes, compared to 2,283 thousand tonnes in the previous year.

The year has been characterised by logistics-related challenges. The troubled situation surrounding the Suez Canal has contributed to an increase in shipping costs by around 30 percent. At the same time, the historic and extensive stoppages on the Malmbanan railway line between December 2023 and June 2024 have challenged the entire Group, with a major impact on our profitability and liquidity.

Additionally, the disruptions have also led to lost revenues as they occurred during a period when iron ore prices were more favourable than at present. In total, the financial consequences of these challenges can be placed at close to half a billion Swedish kronor.