Granges AB

GRNG

Equity

ISIN SE0006288015 / Valor 25585939

NASDAQ Nordic Exchange Stockholm, Equities (2026-03-20)

SEK 138.50-1.14%

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: Industrials

Sales & volumes

Q4 2025 sales volume rose 17% to 152.4 ktonnes and net sales were SEK 7,222m (+16.8% y/y). For Jan–Dec 2025, sales volume was 616.6 ktonnes (+22%) and net sales SEK 28,362m (+20.7%).

Profitability

Adjusted operating profit in Q4 2025 was SEK 373m (up 14.8% y/y) and adjusted operating profit per tonne was 2.4 kSEK. Full-year adjusted operating profit was SEK 1,614m. Q4 profit for the period was SEK 251m and diluted EPS was SEK 2.31; FY diluted EPS was SEK 9.54.

Cash flow & working capital

Operating cash flow improved to SEK 58m in Q4 (vs -1,048 in Q4 2024) and was SEK 841m for the full year (vs -484). Higher aluminium prices raised working capital and weighed on short‑term cash flow.

Regional performance

Gränges Americas delivered a very strong Q4 (sales vol. 58.4 ktonnes, +7%) and adjusted operating profit SEK 278m. Gränges Asia grew rapidly (Q4 vol. 51.3 ktonnes, +33%) driven by Shandong ramp‑up but faces price pressure (Q4 adj. op. profit SEK 62m). Gränges Europe grew volumes (Q4 vol. 48.0 ktonnes, +17%) but profitability was hurt by lower scrap margins and currency headwinds (Q4 adj. op. profit SEK 89m).

Balance sheet & capital structure

Capital employed was SEK 14,824m at year‑end; financial net debt was about 1.6x adjusted EBITDA (improved from 1.8x). Management expects lower capital expenditure going forward as capacity investments are finalized.

Sustainability & recycling

Q4 total carbon emissions intensity fell to 6.2 tCO2e/tonne (-20% y/y); full‑year intensity was 6.6 tCO2e/tonne (-12%). Full‑year recycling volume hit a record 300 ktonnes (+20%), and Q4 sourced recycled aluminium was 47.1% of metal sourced.

Dividend & shareholder returns

The Board proposes a dividend of SEK 3.40 per share for 2025 (up from SEK 3.20), representing 36% of the profit for the year.

Outlook & risks

For Q1/2026 and beyond management expects low‑to‑mid single‑digit volume growth versus 2025 and will focus on utilizing capacity and optimizing price, mix and productivity. Key risks remain aluminium price moves, scrap margins, currency effects and macro/geopolitical uncertainty, which can affect cash flow and profitability.

Other items

Q4 performance included a positive timing effect from a rescheduled maintenance stop (~SEK 20m). The inclusion of the Shandong facility influenced both volumes and sustainability metrics in 2025; Gränges also reorganized reporting into Americas, Asia and Europe from Q1 2025 onwards.

Summarized from source with an LLMView Source

Key figures

3.20%1Y

73.0%3Y

12.2%5Y

Performance

31.6%1Y

30.6%3Y

36.1%5Y

Volatility