Granges AB
GRNG
ISIN SE0006288015 / Valor 25585939
Granges AB
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About company
Gränges AB is a global leader in the development, production, and supply of advanced aluminum products, focusing on enhancing sustainability and operational efficiency across its operations. The company specializes in aluminum rolling and recycling, catering to a diverse range of industries including transportation, where its solutions are pivotal for climate control systems in vehicles and buildings, as well as in electrification and battery components. Gränges also plays a significant role in the production of recyclable packaging materials. A notable aspect of its business expansion includes the project initiated in September 2017 to extend its aluminum rolling operations in Huntingdon, Tennessee, aimed at meeting the increasing demand for HVAC and automotive heat exchanger materials, alongside aluminum foil and packaging materials. Furthermore, Gränges has ventured into additive manufacturing, launching high-performance aluminum alloys under the DISPAL® brand, which are distinguished by their wear resistance and tribological properties. The company's strategic partnership with Carrier through the Carrier Alliance Program underscores its commitment to supplying aluminum foil products for HVAC and refrigeration systems, highlighting its strategic approach to long-term agreements and collaborations. Gränges' dedication to a sustainable and efficient supply chain is evident in its adherence to rigorous sourcing guidelines and its alignment with the Science Based Targets initiative (SBTi) for achieving its climate goals, emphasizing its commitment to environmental stewardship without compromising its competitive edge in the aluminum industry.
Summarized from source with an LLMView SourceSector: IndustrialsLatest Results (07.12.2025):
Gränges AB (Granges AB) — third quarter 2025: Gränges reported a strong sales and volume quarter driven by market‑share gains and the ramp‑up of the Shandong plant. Q3 volume rose 25% to 153.4 ktonnes and net sales were SEK 6,933m (+21%). Adjusted operating profit was SEK 398m (‑5% vs. prior year) with adjusted operating profit per tonne of 2.6 kSEK; profit for the period was SEK 253m (EPS diluted SEK 2.27). Operating cash flow remained robust at SEK 317m and financial net debt fell to 1.6x adjusted EBITDA. Sustainability progress continued (carbon intensity down), while the share of sourced recycled aluminium declined due to a tight scrap market.
Sales & volume
Third quarter sales volume +25% to 153.4 ktonnes (YTD Jan–Sep 464.2 ktonnes, +24%). Net sales SEK 6,933m in Q3 (+21%). Growth was broad‑based across regions and customer segments, with particularly strong contribution from new business in Asia after the Shandong acquisition and ramp‑up.
Profitability
Adjusted operating profit Q3 was SEK 398m (‑5% vs. Q3 2024). Adjusted operating profit per tonne fell to 2.6 kSEK (from 3.4 kSEK), largely because of the rapid ramp‑up of lower‑margin volumes in Shandong and higher aluminium scrap costs; in constant currency operating profit rose ~5%.
Profit & EPS
Profit for the period was SEK 253m (‑11% vs. prior year) and diluted earnings per share amounted to SEK 2.27 for Q3 2025.
Cash flow & balance sheet
Operating cash flow in Q3 was SEK 317m (up ~15%). Q3 capex was SEK 170m (mostly maintenance/efficiency). Financial net debt was SEK 3,825m, equivalent to 1.6x adjusted EBITDA (improved from 1.8x at year‑end 2024). Cash and cash equivalents were SEK 679m at 30 Sep 2025.
Regional performance
Gränges Americas: Q3 volume ~59.7 ktonnes, adjusted operating profit SEK 284m (stable in SEK; strong in local currency). Gränges Asia: Q3 volume 49.9 ktonnes (+88%) and adjusted operating profit SEK 94m — growth driven by Shandong ramp‑up and EV business. Gränges Europe: Q3 volume 49.0 ktonnes (+17%) but adjusted operating profit declined to SEK 65m amid weak markets and higher scrap costs.
Sustainability & recycling
Total carbon intensity (scope 1+2+3) fell to 7.4 tCO2e/tonne in Q3 (‑5% vs. Q3 2024); scope 1+2 intensity ~0.62 tCO2e/tonne. Recycling volumes reached record levels (65 ktonnes in Q3; 258 ktonnes rolling 12 months). Share of sourced recycled aluminium decreased to 43.4% in Q3 (from 47.4%) due to a tight scrap market and more low‑carbon primary aluminium purchases.
Outlook / management view
Management expects continued strong year‑on‑year sales volume growth driven by market‑share gains, with Gränges Asia to stay at or above ~50 ktonnes run‑rate. Q4 is described as hardest to predict (seasonality, soft HVAC and automotive demand), and capacity expansion capex will remain low to support cash generation and balance‑sheet strength.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
1579 M
Market cap (USD)
274,714
Daily traded volume (Shares)
133 / 129.6
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
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Est dividend (USD)
Est dividend yield
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EPS (USD)
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