Gränges’ third quarter sales volume and operating profit are expected to be above market expectations
Gränges expects to report sales volume and adjusted operating profit for the third quarter 2020 above the current market expectations. The sales volume for the third quarter is expected to be 86.7 ktonnes (85.8) and the adjusted operating profit is expected to amount to about SEK 200 million (190). The operating profit in the third quarter has been positively impacted by a stronger market demand and increased effects from cost reduction initiatives.
The amounts stated in this press release are preliminary and unaudited. Gränges will not make any further comments on the financial development until the report for the third quarter has been published.
Gränges’ interim report for the period January–September 2020 will be published at 07.30 CEST on Thursday, 22 October 2020. A webcasted conference call will be held the same day at 10.00 CEST.
For further information, please contact:
Oskar Hellström, CFO and Deputy CEO
firstname.lastname@example.org, tel: +46 8 459 59 00
Johan Dufvenmark, VP Group Treasury & Investor Relations
email@example.com, tel: +46 705 97 43 75
The information in this press release is such that Gränges must disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on Thursday 8 October 2020, at 10.30 CEST.
Gränges is a leading global supplier of rolled aluminium products for heat exchanger applications and other niche markets. In materials for brazed heat exchangers Gränges is the global leader with a market share of approximately 20 per cent. The company develops, produces and markets advanced materials that enhance efficiency in the customer manufacturing process and the performance of the final products. The company’s geographical markets are Europe, Asia and the Americas. Its production facilities are located in Sweden, China and the United States, and have a combined annual capacity of 460,000 metric tonnes. Gränges has 1,800 employees and net sales of SEK 12 billion. The share is listed on Nasdaq Stockholm. More information on Gränges is available at www.granges.com.