VISCNasdaq StockholmBasic MaterialsIFRS · SEK

Gruvaktiebolaget Viscaria

Gruvaktiebolaget Viscaria is a Swedish mining company focused on the exploration and development of mineral resources, particularly copper, in the Kiruna region. The company is in the process of reopening the Viscaria copper mine, aiming to meet the growing global demand for sustainably produced copper. With a strong emphasis on environmental sustainability, Viscaria is committed to responsible mining practices. The company holds several processing concessions and exploration permits across Sweden, positioning itself as a key player in the European copper supply chain.

Operating profit (EBIT)-67.1m SEK
−27.8 %y/y
Net income-109m SEK
−126.3 %y/y

Fiscal year 2025 · change from previous year

Development 2022–2025

-100-80-60-40-200m SEK2022: EBIT -20 m SEK20222023: EBIT -43 m SEK20232024: EBIT -53 m SEK20242025: EBIT -67 m SEK2025TTM 2026: EBIT -82 m SEKTTM-82
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year

Business

Share of revenue
Copper Mining70 %

Extraction and production of copper from the Viscaria mine.

Mineral Exploration15 %

Exploration and evaluation of mineral resources in Sweden.

Environmental Services10 %

Management of environmental impact and sustainability initiatives.

Geological Services5 %

Drilling and geological analysis to support mining operations.

Customers

Gruvaktiebolaget Viscaria primarily serves industrial customers who require high-quality copper for manufacturing and infrastructure projects. The company's copper is particularly appealing to European markets focused on sustainable and locally sourced materials. As copper is essential for electrical wiring and renewable energy technologies, Viscaria's products are crucial for companies involved in energy transition and infrastructure development. Additionally, the company collaborates with environmental agencies to ensure compliance with sustainability standards, attracting customers who prioritize environmental responsibility.

Industrial Manufacturers

Purchase high-quality copper for manufacturing and infrastructure.

European Markets

Focus on sustainable and locally sourced copper.

Energy Transition Companies

Require copper for renewable energy technologies.

Strategy

Gruvaktiebolaget Viscaria's strategic priorities include the reopening of the Viscaria copper mine to become a leading supplier of sustainably produced copper. The company is focused on securing environmental permits and land allocations to ensure uninterrupted operations. Viscaria is committed to sustainability, aligning with international standards and local regulations to minimize environmental impact. The company is also investing in advanced geological exploration to extend the life of the mine and increase resource estimates.

Reopen Viscaria MineMedium term

To meet growing demand for copper.

Sustainability InitiativesLong term

Align with global environmental standards.

Geological ExplorationShort term

Increase resource estimates and mine life.

Geography

Gruvaktiebolaget Viscaria operates primarily in Sweden, with its main mining activities centered around the Viscaria copper mine in Kiruna. The company holds several processing concessions and exploration permits in regions such as Arvidsjaur and Smedjebacken. Sweden's regulatory environment and infrastructure support the company's operations, facilitating access to European markets. The strategic location in Northern Europe allows Viscaria to efficiently supply copper to meet the demands of the European Union's climate transition goals.

Risks

Key risks for Gruvaktiebolaget Viscaria include the inherent uncertainties in mineral exploration and the potential for delays in obtaining necessary environmental permits. The company is also exposed to fluctuations in copper prices, which can impact profitability. Additionally, geopolitical risks, particularly related to regulatory changes in Sweden, could affect operations. The company's reliance on successful exploration results to justify investment in mine development presents a significant financial risk.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Exploration Uncertainty1Permit Delays2Copper Price Volatility3Regulatory Changes4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Exploration UncertaintyImpact: CriticalLikelihood: Medium

    Potential for non-commercial mineralization.

  2. Permit DelaysImpact: HighLikelihood: Medium

    Could delay mine reopening.

  3. Copper Price VolatilityImpact: HighLikelihood: Medium

    Affects revenue and profitability.

  4. Regulatory ChangesImpact: MediumLikelihood: Medium

    Could impact operational compliance.

Accounting

Judgemental items
Exploration Asset Valuation

Significant impact on asset values and financial position.

New Accounting Standards

Affect financial reporting and compliance.

Lease Accounting

Impacts balance sheet through lease liabilities.

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026

Gruvaktiebolaget Viscaria (XSTO) – Basic Materials | Financial Analysis – Clarifo