Botnia Gold (BOTX) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 increased to KSEK 201,955 from KSEK 126,397 year-over-year, with operating profit rising to KSEK 46,241 from KSEK 31,767 and net profit to KSEK 36,031 from KSEK 24,583.

• Q2 2026 saw lower revenue (KSEK 84,414) and profit (KSEK 12,643) compared to Q2 2025 due to a shortened ore processing campaign, but full-year production targets remain unchanged.

• The ore sorting plant reached planned capacity, improving ore quality and reducing waste, supporting cost-efficient production.

Financial highlights

• Q2 2026 revenue: KSEK 84,414 (Q2 2025: KSEK 115,088); operating profit: KSEK 16,192 (Q2 2025: KSEK 44,022); net profit: KSEK 12,643 (Q2 2025: KSEK 34,611).

• H1 2026 revenue: KSEK 201,955 (H1 2025: KSEK 126,397); operating profit: KSEK 46,241 (H1 2025: KSEK 31,767); net profit: KSEK 36,031 (H1 2025: KSEK 24,583).

• Earnings per share for H1 2026: SEK 0.88 (H1 2025: SEK 0.60).

• Cash flow from operations for H1 2026: KSEK -16,170 (H1 2025: KSEK 59,860); cash and cash equivalents at period end: KSEK 28,501.

• Investments in H1 2026 totaled KSEK 22,338, mainly in Fäbodtjärn and Vargbäcken.

Outlook and guidance

• The shortened Q2 processing campaign is not expected to impact full-year production or revenue targets, as lost tonnage will be recovered in the next campaign.

• Ongoing exploration and drilling at Fäbodtjärn and Vargbäcken aim to support future resource updates and production planning.