Granges AB

GRNG

Equity

ISIN SE0006288015 / Valor 25585939

NASDAQ Nordic Exchange Stockholm, Equities (2026-11-06)

SEK 168.40+0.18%

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

Financial results (Q3 2026)

Adjusted operating profit: SEK 596m (up 50% year‑on‑year). Net sales: SEK 9,485m (+37% vs Q3 2025). Profit for the period: SEK 388m; diluted EPS SEK 3.63. Adjusted operating profit per tonne: 3.9 kSEK.

Year‑to‑date performance (Jan–Sep 2026)

Adjusted operating profit Jan–Sep: SEK 1,635m (vs SEK 1,242m prior year). Profit for the period Jan–Sep: SEK 1,114m. Net sales Jan–Sep: SEK 27,403m. Return on capital employed (rolling 12 months): 12.6%.

Sales volume and mix

Q3 sales volume: 154.5 ktonnes (+1% y/y). Group volumes Jan–Sep: 481.4 ktonnes (+3.7% y/y). Growth driven by market‑share gains (notably in Americas and Automotive) and improved mix and pricing.

Cash flow and balance sheet

Operating cash flow (Q3): SEK 396m. Financial net debt: SEK 4,987m (financial net debt/adjusted EBITDA 1.7x). Cash and cash equivalents: SEK 847m at 30 Sep 2026. Capital expenditure Q3: SEK 183m; Jan–Sep: SEK 415m.

Regional performance (Q3 2026)

Gränges Americas: record adjusted operating profit SEK 490m; sales volume 63.4 ktonnes (+6% y/y) supported by HVAC recovery and share gains. Gränges Asia: sales volume down to 43.9 ktonnes (-12% y/y) after the Shandong fire; adjusted operating profit SEK 71m. Gränges Europe: sales volume 51.9 ktonnes (+6% y/y) with adjusted operating profit SEK 75m despite weak overall demand.

Shandong fire and items affecting comparability

An operational fire at the Shandong (China) facility in May reduced Asian production of lower‑margin industrial products by ~10 ktonnes in Q3 and caused costs for alternative supply solutions recorded as items affecting comparability: SEK -49m in Q3 and SEK -64m Jan–Sep. Repairs are ongoing and expected to be completed around year‑end; the company expects ~10 ktonnes lower low‑margin industrial output per quarter until commissioning is finished. The facility is insured; insurance recoveries will be accounted for when recognized.

Sustainability progress

Total GHG emission intensity (scope 1+2+3) fell to 5.9 tCO2e/tonne (‑8% y/y). Sourced recycled aluminium increased to 48.2% of metal input (85 ktonnes in Q3, +13% y/y). Gränges reports progress toward its carbon and circularity targets.

Outlook (company guidance)

Gränges expects continued momentum into Q4 2026. Asia will operate with reduced capacity due to the Shandong repairs (expected continued ~10 ktonnes quarterly reduction in low‑margin products). For Americas and Europe, Q4 sales volumes are expected to grow at a mid single‑digit rate y/y, with management aiming to offset cost inflation through pricing and productivity; the company also expects tailwinds from improved market scrap spreads and limited FX headwind.

Summarized from source with an LLMView Source

Key figures

23.6%1Y

52.0%3Y

77.5%5Y

Performance

29.3%1Y

29.4%3Y

35.1%5Y

Volatility