Aankondiging • Jan 09
Gränges AB (publ) to Report Fiscal Year 2025 Final Results on Mar 17, 2026 Gränges AB (publ) announced that they will report fiscal year 2025 final results on Mar 17, 2026 Aankondiging • Sep 15
Gränges AB (publ), Annual General Meeting, May 12, 2026 Gränges AB (publ), Annual General Meeting, May 12, 2026, at 15:30 W. Europe Standard Time. Location: stockholm Sweden Aankondiging • May 12
Gränges AB (Publ) Approves Dividend, Payable on May 19, 2025, and on November 19, 2025 Respectively Gränges AB (publ) announced at the AGM held on May 12, 2025, approved on a dividend of SEK 3.20 per share and that the remaining profits are carried forward. The dividend is to be divided into two payments of SEK 1.60 per payment. The General Meeting further resolved, in accordance with the Board of Directors’ proposal, that the record date for the first dividend shall be May 14, 2025, and the record date for the second dividend shall be November 14, 2025. The dividend is expected to be paid out by Euroclear Sweden AB on May 19, 2025, and on November 19, 2025. Aankondiging • May 10
Gränges Announces Sofia Hedevåg Decides to Leave as SVP Sustainability Gränges announced that Sofia Hedevåg, SVP Sustainability, has decided to leave her role to pursue new opportunities outside the Group. Sofia has been employed at Gränges since 2017 and has been a member of the Group Management since 2021. Aankondiging • Apr 01
Gränges AB (publ) Proposes Dividend, Payable on May 19, 2025, and November 19, 2025 Gränges AB (publ) at its AGM to be held on May 12, 2025, proposed that the retained earnings of SEK 3,817,579,559 be appropriated as follows: Payment to the shareholders of a dividend of SEK 340,187,578 which is equivalent to SEK 3.20 per share, and the remaining amount of SEK 3,477,391,982 to be carried forward. It is proposed that the dividend is divided into two payments of SEK 1.60 per payment. The first record date is proposed to be May 14, 2025, and the second record date is proposed to be November 14, 2025. If the General Meeting resolve in accordance with the proposal, the dividend is expected to be distributed through Euroclear Sweden AB on May 19, 2025, and on November 19, 2025. Aankondiging • Jan 31
Gränges AB (publ), Annual General Meeting, May 12, 2025 Gränges AB (publ), Annual General Meeting, May 12, 2025, at 15:30 W. Europe Standard Time. Location: iva conference center, grev turegatan 16, stockholm. Sweden Aankondiging • Jan 30
Gränges AB (publ) to Report Fiscal Year 2024 Final Results on Mar 18, 2025 Gränges AB (publ) announced that they will report fiscal year 2024 final results on Mar 18, 2025 Upcoming Dividend • Nov 04
Upcoming dividend of kr1.50 per share Eligible shareholders must have bought the stock before 11 November 2024. Payment date: 15 November 2024. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (3.1%). Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: kr2.68 (vs kr3.12 in 3Q 2023) Third quarter 2024 results: EPS: kr2.68 (down from kr3.12 in 3Q 2023). Revenue: kr5.75b (up 3.1% from 3Q 2023). Net income: kr285.0m (down 14% from 3Q 2023). Profit margin: 5.0% (down from 6.0% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 14
Second quarter 2024 earnings released: EPS: kr2.95 (vs kr2.97 in 2Q 2023) Second quarter 2024 results: EPS: kr2.95 (down from kr2.97 in 2Q 2023). Revenue: kr6.15b (up 2.3% from 2Q 2023). Net income: kr314.0m (flat on 2Q 2023). Profit margin: 5.1% (down from 5.3% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 2.4% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Aankondiging • May 09
Gränges AB (publ) Approves Dividend, Payable on May 16, 2024 and November 15, 2024 Gränges AB (publ) announced that at the AGM was held on May 8, 2024, the company approved a dividend of SEK 3 per share and that the remaining profits are carried forward. The dividend is to be divided into two payments of SEK 1.50 per payment. The General Meeting resolved that the record date for the first dividend shall be May 13, 2024, and the record date for the second dividend shall be November 12, 2024. The dividend is expected to be paid out by Euroclear Sweden AB on May 16, 2024, and on November 15, 2024. Upcoming Dividend • May 03
Upcoming dividend of kr1.50 per share Eligible shareholders must have bought the stock before 10 May 2024. Payment date: 16 May 2024. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (3.8%). Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: kr2.23 (vs kr2.39 in 1Q 2023) First quarter 2024 results: EPS: kr2.23 (down from kr2.39 in 1Q 2023). Revenue: kr5.43b (down 9.0% from 1Q 2023). Net income: kr237.0m (down 6.7% from 1Q 2023). Profit margin: 4.4% (up from 4.3% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: kr9.50 (vs kr6.59 in FY 2022) Full year 2023 results: EPS: kr9.50 (up from kr6.59 in FY 2022). Revenue: kr22.5b (down 8.1% from FY 2022). Net income: kr1.01b (up 44% from FY 2022). Profit margin: 4.5% (up from 2.9% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Aankondiging • Feb 20
Gränges AB (publ) Announces Board Changes Gränges AB (publ) announced that Katarina Lindström and Hans Porat are not available for re-election and will leave the Board of Directors in conjunction with the AGM. Katarina Lindström and Hans Porat will leave the Board of Directors in conjunction with the 2024 AGM. They were both elected to Gränges' Board in 2016 and have taken a highly active role, in particular regarding the acquisitions of Noranda in the US in 2016 and Aluminium Konin in Poland in 2020, as well as the development of Gränges' Navigate strategy for sustainable growth. Katarina has been a member of the Audit Committee, and Hans has been a member of the Remuneration Committee. Aankondiging • Jan 30
Gränges AB (publ) to Report Fiscal Year 2023 Results on Mar 19, 2024 Gränges AB (publ) announced that they will report fiscal year 2023 results on Mar 19, 2024 Reported Earnings • Jan 25
Full year 2023 earnings released: EPS: kr9.50 (vs kr6.59 in FY 2022) Full year 2023 results: EPS: kr9.50 (up from kr6.59 in FY 2022). Revenue: kr22.5b (down 8.1% from FY 2022). Net income: kr1.01b (up 44% from FY 2022). Profit margin: 4.5% (up from 2.9% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 11% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 28
Third quarter 2023 earnings released: EPS: kr3.13 (vs kr1.47 in 3Q 2022) Third quarter 2023 results: EPS: kr3.13 (up from kr1.47 in 3Q 2022). Revenue: kr5.58b (down 9.7% from 3Q 2022). Net income: kr332.0m (up 113% from 3Q 2022). Profit margin: 6.0% (up from 2.5% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 10.0% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Aankondiging • Oct 27
Gränges AB (Publ) Provides Earnings Guidance for the Fourth Quarter 2023 Gränges AB (publ) provided earnings guidance for the Fourth quarter 2023. For the quarter, company expect sales volume roughly in line with the same quarter 2022. Aankondiging • Jul 16
Gränges AB (publ) Provides Earnings Guidance for the Third Quarter of 2023 Gränges AB (publ) provided earnings guidance for the third quarter of 2023. The company expects the third quarter to behave something like the second quarter. This translates into an expected decline year-on-year by a mid- to high single-digit percentage when it comes to sales volume, and that also corresponds then, of course, to decline relative to the second quarter of 2023. The operating profit per tonne to be weaker sequentially than the second quarter of 2023, but The company expects it to be stronger than last year. The company expects slightly lower sales volume in the third quarter versus second quarter. New Risk • Jul 16
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks High level of debt (44% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Jul 14
Second quarter 2023 earnings released: EPS: kr2.97 (vs kr2.78 in 2Q 2022) Second quarter 2023 results: EPS: kr2.97 (up from kr2.78 in 2Q 2022). Revenue: kr6.01b (down 13% from 2Q 2022). Net income: kr316.0m (up 7.1% from 2Q 2022). Profit margin: 5.3% (up from 4.3% in 2Q 2022). Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 1.0% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Aankondiging • Jul 14
Gränges AB (publ) to Report Q1, 2024 Results on Apr 25, 2024 Gränges AB (publ) announced that they will report Q1, 2024 results on Apr 25, 2024 Buying Opportunity • Jun 27
Now 20% undervalued Over the last 90 days, the stock is up 8.8%. The fair value is estimated to be €10.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has grown by 7.4%. Revenue is forecast to grow by 14% in 2 years. Earnings is forecast to grow by 60% in the next 2 years. Aankondiging • Jun 15
Gränges AB (Publ) Announces Dividend Payable on 21 June 2023 Gränges AB (Publ) announced that the General Meeting resolved, in accordance with the Board of Directors’ proposal, on a dividend of SEK 2.50 per share with the record date of 16 June 2023. The dividend is expected to be paid out by Euroclear Sweden AB on 21 June 2023. Upcoming Dividend • Jun 08
Upcoming dividend of kr2.50 per share at 2.5% yield Eligible shareholders must have bought the stock before 15 June 2023. Payment date: 21 June 2023. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (8.7%). Buying Opportunity • May 23
Now 20% undervalued Over the last 90 days, the stock is up 9.6%. The fair value is estimated to be €10.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has grown by 7.4%. Revenue is forecast to grow by 14% in 2 years. Earnings is forecast to grow by 60% in the next 2 years. Aankondiging • May 04
Gränges AB (publ) Proposes Dividend, Payable on 21 June 2023 Gränges AB (publ) proposed a dividend of SEK 2.50 per share at its Annual General Meeting to be held on 14 June 2023. The proposed record date for the dividend is 16 June 2023. If the General Meeting resolves in accordance with the proposal, the dividend is expected to be distributed through Euroclear Sweden AB on 21 June 2023. Reported Earnings • Mar 20
Full year 2022 earnings released: EPS: kr6.59 (vs kr5.60 in FY 2021) Full year 2022 results: EPS: kr6.59 (up from kr5.60 in FY 2021). Revenue: kr24.5b (up 35% from FY 2021). Net income: kr700.0m (up 18% from FY 2021). Profit margin: 2.9% (down from 3.3% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Feb 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Employee Representative Director Emelie Gunnstedt was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Jan 27
Gränges AB (publ) to Report Q4, 2022 Final Results on Mar 16, 2023 Gränges AB (publ) announced that they will report Q4, 2022 final results on Mar 16, 2023 Reported Earnings • Jan 27
Full year 2022 earnings released: EPS: kr6.59 (vs kr5.60 in FY 2021) Full year 2022 results: EPS: kr6.59 (up from kr5.60 in FY 2021). Revenue: kr24.5b (up 35% from FY 2021). Net income: kr700.0m (up 18% from FY 2021). Profit margin: 2.9% (down from 3.3% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 3.1% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 4% per year. Board Change • Jan 15
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Steve Armstrong was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Oct 26
Jörgen Rosengren acquired an unknown minority stake in Gränges AB (publ) for SEK 2.5 million. Jörgen Rosengren acquired an unknown minority stake in Gränges AB (publ) for SEK 2.5 million on October 25, 2022.Jörgen Rosengren completed the acquisition of an unknown minority stake in Gränges AB (publ) on October 25, 2022. Reported Earnings • Oct 21
Third quarter 2022 earnings released: EPS: kr1.47 (vs kr1.44 in 3Q 2021) Third quarter 2022 results: EPS: kr1.47 (up from kr1.44 in 3Q 2021). Revenue: kr6.17b (up 34% from 3Q 2021). Net income: kr156.0m (up 2.0% from 3Q 2021). Profit margin: 2.5% (down from 3.3% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 3.2% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 9% per year. Aankondiging • Sep 22
Gränges AB (publ) Announces Nomination Committee Appointments The Nomination Committee for Gränges AB (publ)’s Annual General Meeting 2023 has been appointed. The Nomination Committee shall consist of representatives from the three largest shareholders and the Chairman of the Board. As of 31 August 2022, Gränges’ three largest shareholders were The Fourth Swedish National Pension Fund (AP4), AFA Insurance and Swedbank Robur funds, which have been invited to nominate candidates for the Nomination Committee. The Nomination Committee for the Annual General Meeting 2023 has the following members: Jannis Kitsakis (AP4), Anders Algotsson (AFA Insurance), Jan Dworsky (Swedbank Robur funds) and Fredrik Arp (Chairman of the Board of Gränges). The Chairman of the Nomination Committee is Jannis Kitsakis. The Nomination Committee represents Gränges’ shareholders. It proposes to the Annual General Meeting nominations for Chairman of the Board, members of the Board, auditor and auditor’s fees, Chairman of the Annual General Meeting, as well as fees for Board and committee work. Aankondiging • Aug 11
Gränges Recruits William B. Shannon as Senior Vice President, Global Battery Foil Program, Effective 1 September 2022 Gränges has recruited William B. Shannon as the Senior Vice President for Gränges' Global Battery Foil Program. He is currently the COO of the New York-based Li-Ion battery cell producer iM3NY and has over 30 years of experience within the battery industry and will be an important contributor to taking Gränges' expansion in this industry into its next phase. Mr. Shannon holds a BA in Business Administration and Management from Eastern Connecticut State University. Prior to his position at iM3NY, he held several senior positions at companies such as Heitkamp & Thumann Group and Duracell. Mr. Shannon will join Gränges on 1 September 2022, and will report to Gränges' President and CEO. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 18% share price gain to €8.99, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 4x in the Metals and Mining industry in Europe. Total returns to shareholders of 14% over the past three years. Reported Earnings • Jul 16
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: kr6.88b (up 49% from 2Q 2021). Net income: kr295.0m (up 31% from 2Q 2021). Profit margin: 4.3% (down from 4.9% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 8.2%, compared to a 29% growth forecast for the industry in Germany. Aankondiging • Jul 15
Gränges AB (publ), Annual General Meeting, Apr 27, 2023 Gränges AB (publ), Annual General Meeting, Apr 27, 2023. Aankondiging • Jun 22
Gränges Launches its Sustainable Product Brand Gränges Endure Gränges AB (publ) announced the launch of its product brand for sustainable and circular solutions, Gränges Endure. The brand makes it easier for customers to select sustainable aluminum products and solutions of the highest quality at the lowest sustainability impact. Gränges Endure products are based on low-carbon and recycled input materials. Gränges Endure products have a third-party verified carbon footprint of maximum 4.0 tonnes CO2e/tonne, measured from extraction of bauxite to the delivery of Gränges' products to customers (cradle-to-gate). The products are also verified by a third party to be responsibly sourced and produced. Gränges has been a leader in innovative aluminum solutions for decades. The company has a demonstrated industry-leading sustainability performance. EcoVadis, the largest independent provider of business sustainability ratings, has for example awarded Gränges a Platinum rating which ranks the company in the top 1% of companies assessed globally in the industry. Gränges' strategic priority is to offer customers industry-leading sustainable products and solutions that have a low climate impact, are circular and resource efficient as well as responsibly sourced and produced. Gränges Endure makes it easier for customers to select sustainable products of the highest quality and with the lowest sustainability impact. Aankondiging • Jun 21
Gränges AB (Publ) Provides Earnings Guidance for the Second Quarter of 2022 Gränges AB (publ) provided earnings guidance for the second quarter of 2022. the group sales volume is expected to be above 90% of the sales volume in the corresponding quarter last year. Profit margins are expected to continue to improve compared with the first quarter with price adjustments increasingly compensating for cost increases. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €7.77, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 5x in the Metals and Mining industry in Europe. Total loss to shareholders of 6.4% over the past three years. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improved over the past week After last week's 18% share price gain to €7.99, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 5x in the Metals and Mining industry in Europe. Total returns to shareholders of 14% over the past three years. Aankondiging • May 05
Gränges AB (Publ) Approves Dividend, Payable on May 11, 2022 Gränges AB (publ) announced that the general meeting held on May 4, 2022, resolved, in accordance with the Board of Directors’ proposal, on a dividend of SEK 2.25 per share with the record date of 6 May 2022. The dividend is expected to be paid out by Euroclear Sweden AB on 11 May 2022. Upcoming Dividend • Apr 28
Upcoming dividend of kr2.25 per share Eligible shareholders must have bought the stock before 05 May 2022. Payment date: 11 May 2022. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (4.0%). Lower than average of industry peers (7.8%). Recent Insider Transactions • Apr 28
Independent Director recently bought €87k worth of stock On the 22nd of April, Peter Carlsson bought around 10k shares on-market at roughly €8.65 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €167k more in shares than they have sold in the last 12 months. Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: kr2.46 (vs kr2.25 in 1Q 2021) First quarter 2022 results: EPS: kr2.46 (up from kr2.25 in 1Q 2021). Revenue: kr6.08b (up 50% from 1Q 2021). Net income: kr261.0m (up 9.2% from 1Q 2021). Profit margin: 4.3% (down from 5.9% in 1Q 2021). Over the next year, revenue is forecast to grow 18%, compared to a 34% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 22
First quarter 2022 earnings released First quarter 2022 results: Revenue: kr6.08b (up 50% from 1Q 2021). Net income: kr261.0m (up 9.2% from 1Q 2021). Profit margin: 4.3% (down from 5.9% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 14%, compared to a 34% growth forecast for the industry in Germany. Aankondiging • Apr 21
Gränges' Proposes Dividend for the 2021, Payable on 11 May 2022 Gränges' Board of Directors proposed a dividend of SEK 2.25 (1.10) per share for the 2021 fiscal year, in total SEK 239 million (117), which corresponds to 40% of the profit for the year 2021. The proposed record date for the dividend is 6 May 2022. If the AGM resolves in accordance with the proposal, the dividend is expected to be distributed through Euroclear Sweden AB on 11 May 2022. Recent Insider Transactions • Mar 22
Deputy CEO & CFO recently bought €70k worth of stock On the 18th of March, Oskar Hellstrom bought around 9k shares on-market at roughly €8.09 per share. This was the largest purchase by an insider in the last 3 months. Oskar has been a buyer over the last 12 months, purchasing a net total of €79k worth in shares. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €7.90, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 6x in the Metals and Mining industry in Europe. Total returns to shareholders of 9.7% over the past three years. Aankondiging • Feb 15
Gränges AB (publ) Announces Executive Change for Gränges Europe Effective March 1, 2022, Fredrik Spens will take over as President, Gränges Europe, succeeding Jörgen Rosengren who has held the position on an interim basis. Starting the same date, Fredrik will also be a member of the Group Management Team of Gränges. Aankondiging • Feb 05
Gränges AB (Publ) Announces Resignation of Carina Andersson from Board of Directors Gränges AB (publ) announced that Carina Andersson, who has served on the Board since 2014, has chosen to resign and will leave the Board of Directors in conjunction with the AGM. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improved over the past week After last week's 24% share price gain to €11.35, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 7x in the Metals and Mining industry in Europe. Total returns to shareholders of 50% over the past three years. Reported Earnings • Jan 28
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: kr5.60 (up from kr4.21 in FY 2020). Revenue: kr18.1b (up 65% from FY 2020). Net income: kr595.0m (up 64% from FY 2020). Profit margin: 3.3% (in line with FY 2020). Revenue exceeded analyst estimates by 5.9%. Over the next year, revenue is forecast to grow 13%, compared to a 16% growth forecast for the mining industry in Germany. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Aankondiging • Jan 28
Gränges AB (Publ) Proposes Dividend for the Profit for the Year December 2021 Gränges AB (publ) to proposes dividend for the profit for the year December 2021. The Board of Directors proposes a dividend of SEK 2.25 against SEK 1.10 per share, corresponding to 40% (32%) of the profit for the year. Reported Earnings • Oct 22
Third quarter 2021 earnings released: EPS kr1.44 (vs kr1.64 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: kr4.62b (up 80% from 3Q 2020). Net income: kr153.0m (up 23% from 3Q 2020). Profit margin: 3.3% (down from 4.8% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Executive Departure • Aug 05
CEO & President Johan Menckel has left the company On the 31st of July, Johan Menckel was replaced as CEO by Oskar Hellstrom. As of March 2021, Johan still personally held 52.00k shares (€568k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 5.79 years. Executive Departure • May 12
Independent Director has left the company On the 6th of May, Ragnhild Wiborg's tenure as Independent Director ended after 6.9 years in the role. As of December 2020, Ragnhild personally held only 1.18k shares (€12k worth at the time). A total of 2 executives have left over the last 12 months. Aankondiging • May 07
Gränges AB (publ) Approves Dividend, Payable on 14 May 2021 Gränges AB (publ) announced that at the AGM held on May 6, 2021, the company resolved, in accordance with the Board of Directors' proposal, on a dividend of SEK 1.10per share with the record date on 10 May 2021. The dividend is expected to be paid out by Euroclear Sweden AB on 14 May 2021. Upcoming Dividend • Apr 30
Upcoming dividend of kr1.10 per share Eligible shareholders must have bought the stock before 07 May 2021. Payment date: 14 May 2021. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (4.5%). Recent Insider Transactions • Apr 28
Deputy CEO & CFO recently bought €8.6k worth of stock On the 23rd of April, Oskar Hellstrom bought around 723 shares on-market at roughly €11.84 per share. In the last 3 months, there was an even bigger purchase from another insider worth €25k. This was Oskar's only on-market trade for the last 12 months. Reported Earnings • Apr 24
First quarter 2021 earnings released: EPS kr2.25 (vs kr1.76 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: kr4.04b (up 32% from 1Q 2020). Net income: kr239.0m (up 80% from 1Q 2020). Profit margin: 5.9% (up from 4.3% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Mar 20
Full year 2020 earnings released: EPS kr4.21 (vs kr7.95 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: kr11.0b (down 8.1% from FY 2019). Net income: kr363.0m (down 40% from FY 2019). Profit margin: 3.3% (down from 5.0% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Aankondiging • Mar 14
Gränges AB (Publ) Announces Management Changes Gränges AB (Publ) has appointed Sofia Hedevåg, currently SVP Sustainability at Gränges AB, to be a member of Gränges' Group Management and report to CEO Johan Menckel. Sofia has since 15 May 2020 been a member of Gränges' extended Group Management. SVP Corporate Responsibility & Communication, Camilla Weiner, who has been a member of Gränges' Group Management since 2019, has informed that she will leave Gränges to continue with assignments in her own business. The changes above will be effectuated from 1 April 2021. Aankondiging • Mar 12
Gränges AB (publ) Announces Ragnhild Wiborg to Resign from the Board of Directors Gränges AB (publ) announced that Ragnhild Wiborg, who has served on the Board since 2014, has chosen to resign and will leave the Board of Directors in conjunction with the AGM. Is New 90 Day High Low • Feb 23
New 90-day high: €10.81 The company is up 14% from its price of €9.49 on 25 November 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 56% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €25.65 per share. Recent Insider Transactions • Feb 06
Insider recently bought €30k worth of stock On the 28th of January, Magnus Carlström bought around 3k shares on-market at roughly €9.51 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €188k more in shares than they have sold in the last 12 months. Reported Earnings • Jan 30
Full year 2020 earnings released: EPS kr4.21 (vs kr7.95 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: kr11.0b (down 8.1% from FY 2019). Net income: kr363.0m (down 40% from FY 2019). Profit margin: 3.3% (down from 5.0% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Jan 30
Revenue misses expectations Revenue missed analyst estimates by 0.1%. Over the next year, revenue is forecast to grow 38%, compared to a 13% growth forecast for the Metals and Mining industry in Germany. Aankondiging • Jan 19
Gränges AB (publ) to Report Fiscal Year 2020 Results on Jan 28, 2021 Gränges AB (publ) announced that they will report fiscal year 2020 results at 7:30 AM, Central European Standard Time on Jan 28, 2021 Is New 90 Day High Low • Jan 12
New 90-day high: €10.15 The company is up 14% from its price of €8.90 on 14 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 56% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.71 per share. Recent Insider Transactions • Dec 28
Insider recently bought €24k worth of stock On the 22nd of December, Camilla Weiner bought around 3k shares on-market at roughly €9.65 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €119k more in shares than they have sold in the last 12 months. Aankondiging • Nov 09
Gränges Appoints New Management for the Operations in Europe Gränges' announced operations in Europe consist of the acquired business Aluminium Konin in Poland, the operations in Finspång in Sweden, and the business unit Gränges Powder Metallurgy. The name of the acquired business in Poland will be changed to Gränges Konin S.A., and the name of the Swedish unit will be changed from Gränges Sweden AB to Gränges Finspång AB. Torbjörn Sternsjö, currently SVP Technology & Business Development at Gränges Group, has been appointed President Europe, with responsibility for Gränges' operations in Europe. Torbjörn has extensive experience of driving development and change in leading positions in international operations, among others in Gränges and Sapa. Torbjörn Sternsjö will take on his position on 9 November 2020 and will continue to be a member of Gränges' Group Management and report to the CEO of Gränges. Fredrik Spens, currently Marketing & Sales Director for the operations in Finspång, has been appointed Managing Director Gränges Finspång. Fredrik has solid experience from international operations and senior positions, among others in Sandvik. Fredrik Spens will take on his position on 1 January 2021, will be part of Gränges Europe's management team and report to President Europe. Piotr Szeliga, President of Impexmetal and CEO of the Konin plant, has been appointed Managing Director Gränges Konin. Piotr has a long and broad experience from, among other things, various senior positions within the Boryszew Group, one of the largest industrial conglomerates in Poland. Piotr Szeliga will take on his position on 9 November 2020, be part of Gränges Europe's management team and report to President Europe. Jörgen Abrahamsson, currently President Europe and Managing Director for the operations in Finspång, has been appointed VP Integration & Operational Excellence, a new role focusing on operational development, continuous improvements and integration of Gränges' operations in Europe. Jörgen has a long and broad experience of leading and operational roles within Gränges. Jörgen Abrahamsson will take on his new position on 1 January 2021 and continues as Managing Director for the operations in Finspång until 31 December 2020. Jörgen will leave Gränges' Group Management on 9 November and will then be part of Gränges Europe's management team and report to President Europe. Aankondiging • Nov 07
Gränges AB (publ) (OM:GRNG) completed the acquisition of Aluminium Konin-Impexmetal S.A from Boryszew S.A. (WSE:BRS) for SEK 2.2 billion Enterprise Value. Gränges AB (publ) (OM:GRNG) signed an agreement to acquire Aluminium Konin-Impexmetal S.A from Boryszew S.A. (WSE:BRS) for SEK 2.3 billion Enterprise Value on November 28, 2019. The consideration will be paid in cash and debt free basis. On October 7, 2020 Gränges AB and Boryszew S.A signed an agreement on a new structure for the payment of the purchase price. Aluminium Konin-Impexmetal S.A will be a wholly owned subsidiary of Gränges AB. To finance the acquisition, Danske Bank, Nordea Bank and Svenska Handelsbanken are providing a SEK 2.3 billion bridge loan facility with a time to maturity of 18 months. The transaction is subject to approval by regulatory board/committee and antitrust regulations. On September 23, 2020, the acquisition was approved by the EU Commission. The closing of the transaction is expected in the second quarter of 2020. Approximately SEK 1.5 billion of the Rights Issue proceeds will be used to finance part of the Transaction, and approximately SEK 0.5 billion will be used for future growth investments in line with Gränges AB strategy. The transaction is expected to be EPS accretive within twelve months from its completion.
Gränges AB (publ) (OM:GRNG) completed the acquisition of Aluminium Konin-Impexmetal S.A from Boryszew S.A. (WSE:BRS) for for SEK 2.2 billion Enterprise Value on November 6, 2020. Aankondiging • Sep 24
Gränges AB (publ) (OM:GRNG) entered into an agreement to acquire Impexmetal S.A. from Boryszew S.A. (WSE:BRS) for approximately PLN 940 million. Gränges AB (publ) (OM:GRNG) entered into a preliminary conditional agreement to acquire Impexmetal S.A. from Boryszew S.A. (WSE:BRS) for approximately PLN 940 million on November 27, 2019. Gränges AB (publ) (OM:GRNG) entered into an agreement to acquire Impexmetal S.A. from Boryszew S.A. (WSE:BRS) on November 28, 2019. The consideration is on a cash and debt free basis. The purchase price is subject to standard adjustments to the Enterprise Value, based on, among others: net debt, net working capital, pre-paid capex and other adjustments resulting from the terms and conditions of the Transaction. The transaction is financed by bridge loan facility with a time to maturity of 18 months from Danske Bank, Nordea Bank and Svenska Handelsbanken. In conjunction with the transaction, Gränges intends to undertake a new share issue with preferential rights for existing shareholders. Post-completion, Impexmetal will become a wholly owned subsidiary of Gränges AB.
The transaction is subject to regulatory approval by the relevant competition authorities. The agreement is also subject to conditions, including that the other assets i.e. the assets of which consists of Aluminium Konin and certain other assets are separated from Impexmetal by way of a demerger, following which the assets of Impexmetal will consist solely of the operations of Aluminium Konin. As of August 20, 2020, the transaction has been notified to the EU Commission with the provisional deadline set on September 23, 2020. As on September 23, 2020, transaction is approved by the EU Commission. The transaction has now received approval from all relevant competition authorities. The closing is expected in the second quarter of 2020. As on September 23, 2020, transaction is expected to complete in fourth quarter of 2020. The transaction is expected to be EPS accretive within twelve months from its completion. Szymon Okon, Katarzyna Solarz, Tomasz Wickel and Jakub Jedrzejewski of SSW acted as legal advisor to Boryszew. Kristian Ford, Pär Remnelid, Johan Wahlbom, Jesper Schönbeck, Rikard Lindahl and Louise Brorsson Salomon of Vinge acted as legal advisors for Gränges. Aankondiging • Aug 27
Gränges Improves Efficiency and Adapts European Operations, Affecting 75 Positions in Total As part of improving efficiency and adapting Gränges Europe's operations to current market conditions, a decision has been made on organizational changes in the Swedish operations. The new organization aims to strengthen Gränges Europe's customer offer and long-term competitiveness. As a part of the reorganization, reductions will be made, and Gränges Europe has announced notices of redundancy in the operations in Finspång affecting 75 positions in total. As a part of the reorganization, a notice of redundancy has been announced that will affect 75 positions in total, whereof 50 positions within the blue-collar organization and 25 within the white-collar organization in Sweden. Negotiations with union representatives have begun and before the end of December 2020 all the employees affected are estimated to have been informed. As of 31 July 2020, Gränges Europe had 461 employees in Sweden, of which 307 blue-collars and 154 white-collars. 
