Announcement • Mar 24
Grange Resources Limited, Annual General Meeting, May 13, 2026 Grange Resources Limited, Annual General Meeting, May 13, 2026. Announcement • Jan 01
Grange Resources Limited Announces Resignation of Alice Shen as Non-Executive Director, Effective December 30, 2025 Grange Resources Limited advised that Ms. Alice Shen has resigned as a non-executive Director, effective immediately, due to ongoing work commitments. Ms. Shen was appointed in December 2023. Announcement • Apr 10
Grange Resources Limited Announces Resignation of Chongtao Xu as Non-Executive Director, Effective April 10, 2025 The Board of Grange Resources Limited advised that Mr. Chongtao Xu has resigned as a non-executive Director, effective immediately. Mr. Xu will continue in his senior executive role within the Company. Announcement • Mar 14
Grange Resources Limited, Annual General Meeting, May 14, 2025 Grange Resources Limited, Annual General Meeting, May 14, 2025. Announcement • Sep 25
Grange Resources Limited Announces Appointment of Jiajia Jiang as Non-Independent Non-Executive Director The Board of Grange Resources Limited announced the appointment of Mr. Jiajia Jiang as a non-executive Director, effective immediately. Mr. Jiang currently holds the position of Investment Management Director in Shagang Group Investment Holding Co Ltd, being responsible for venture capital investment and project post investment management. Prior to this appointment Mr. Jiang joined Shagang Group in 2013 as an Assistant Director of the Investment Department of Shagang Group. Mr. Jiang holds a Bachelor of Law degree majoring in Economic Law. Mr. Jiang joins the Board as a non-independent non-executive Director. Reported Earnings • Aug 26
First half 2024 earnings released: EPS: AU$0.023 (vs AU$0.061 in 1H 2023) First half 2024 results: EPS: AU$0.023 (down from AU$0.061 in 1H 2023). Revenue: AU$234.0m (down 16% from 1H 2023). Net income: AU$26.5m (down 62% from 1H 2023). Profit margin: 11% (down from 25% in 1H 2023). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Announcement • Apr 19
Grange Resources Limited Appoints Fong Hoon as Independent Non-Executive Director and Chair of the Audit & Risk Committee The Board of Grange Resources Limited announced the appointment of Mr. Fong Hoon as an independent non-executive Director, effective immediately. Mr. Hoon, a chartered accountant with a masters degree in business, has a strong background in commercial, financial and audit matters and has extensive Australian and South East Asian business network across a wide range of sectors. Mr. Hoon will also act as Chair of the Audit & Risk Committee. Announcement • Mar 28
Grange Resources Limited, Annual General Meeting, May 14, 2024 Grange Resources Limited, Annual General Meeting, May 14, 2024. Agenda: To consider election of Directors. Board Change • Mar 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director AJ Saverimutto was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 05
Upcoming dividend of AU$0.02 per share Eligible shareholders must have bought the stock before 12 March 2024. Payment date: 28 March 2024. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of German dividend payers (5.1%). In line with average of industry peers (4.4%). Declared Dividend • Mar 01
Dividend of AU$0.02 announced Shareholders will receive a dividend of AU$0.02. Ex-date: 12th March 2024 Payment date: 28th March 2024 Dividend yield will be 7.7%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (21% earnings payout ratio) but not covered by cash flows (dividend approximately 5x free cash flows). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 5.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: AU$0.13 (vs AU$0.15 in FY 2022) Full year 2023 results: EPS: AU$0.13 (down from AU$0.15 in FY 2022). Revenue: AU$614.7m (up 3.4% from FY 2022). Net income: AU$150.1m (down 13% from FY 2022). Profit margin: 24% (down from 29% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Dec 21
Grange Resources Limited Appoints Tianxiao Shen as Non-Executive Director Grange Resources Limited announced the appointment of Ms Tianxiao Shen as a non-executive director to the Board, effective immediately. Ms Shen is currently the deputy general manager of Shagang International (Singapore) Pte Ltd, a subsidiary of Jiangsu Shagang Group, China's larger privately-owned steel conglomerate. Shen has extensive experience in raw material procurement and trade, company management, supply chain operation management, and investment planning. Ms Shen will fill the non-executive director vacancy left as the major shareholder (Jiangsu Shagang) nominee on the Board, following Ms Yan Jia's resignation as announced on 6 September 2023. Announcement • Sep 08
Grange Resources Limited Announces Resignation of Yan Jia as Non-Independent Director The Board of Grange Resources Limited advised that Ms Yan Jia has notified the Company that she will resign from the Company, effective immediately, due to personal reasons. Ms Jia joined the Board of Grange in June 2014 and has served on the Remuneration & NominationCommittee. Ms Jia has also held the position of Deputy Chairperson. The Board wishes to thank Ms Jia for her valued contribution to the Company over the past 9 years and wishes her well in future endeavors. New Risk • Aug 27
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 21% Last year net profit margin: 37% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.0% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (21% net profit margin). Reported Earnings • Aug 27
First half 2023 earnings released: EPS: AU$0.061 (vs AU$0.11 in 1H 2022) First half 2023 results: EPS: AU$0.061 (down from AU$0.11 in 1H 2022). Revenue: AU$278.4m (down 18% from 1H 2022). Net income: AU$70.4m (down 47% from 1H 2022). Profit margin: 25% (down from 39% in 1H 2022). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. New Risk • Aug 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.3% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Mar 03
Upcoming dividend of AU$0.02 per share at 4.1% yield Eligible shareholders must have bought the stock before 10 March 2023. Payment date: 28 March 2023. Payout ratio is a comfortable 27% but the company is paying out more than the cash it is generating. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (8.0%). Reported Earnings • Feb 26
Full year 2022 earnings released: EPS: AU$0.15 (vs AU$0.28 in FY 2021) Full year 2022 results: EPS: AU$0.15 (down from AU$0.28 in FY 2021). Revenue: AU$594.6m (down 24% from FY 2021). Net income: AU$171.7m (down 47% from FY 2021). Profit margin: 29% (down from 41% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 79% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 06
Upcoming dividend of AU$0.02 per share Eligible shareholders must have bought the stock before 13 September 2022. Payment date: 30 September 2022. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 16%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (10%). Reported Earnings • Aug 31
First half 2022 earnings released: EPS: AU$0.11 (vs AU$0.18 in 1H 2021) First half 2022 results: EPS: AU$0.11 (down from AU$0.18 in 1H 2021). Revenue: AU$341.1m (down 24% from 1H 2021). Net income: AU$132.2m (down 36% from 1H 2021). Profit margin: 39% (down from 46% in 1H 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 21
Investor sentiment improved over the past week After last week's 30% share price gain to €1.03, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 5x in the Metals and Mining industry in Germany. Total returns to shareholders of 906% over the past three years. Upcoming Dividend • Mar 04
Upcoming dividend of AU$0.10 per share Eligible shareholders must have bought the stock before 11 March 2022. Payment date: 29 March 2022. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 11%. Within top quartile of German dividend payers (3.4%). Higher than average of industry peers (8.7%). Reported Earnings • Feb 28
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: AU$0.28 (up from AU$0.18 in FY 2020). Revenue: AU$781.7m (up 49% from FY 2020). Net income: AU$322.3m (up 58% from FY 2020). Profit margin: 41% (up from 39% in FY 2020). The increase in margin was driven by higher revenue. Production and reserves: Iron Production: 2.808 Mt (2.468 Mt in FY 2020) Number of mines: 1 (1 in FY 2020) Revenue exceeded analyst estimates by 1.4%. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 06
Upcoming dividend of AU$0.02 per share Eligible shareholders must have bought the stock before 13 September 2021. Payment date: 30 September 2021. Trailing yield: 7.0%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (5.2%). Reported Earnings • Aug 26
First half 2021 earnings released: EPS AU$0.18 (vs AU$0.058 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: AU$450.6m (up 86% from 1H 2020). Net income: AU$205.9m (up 207% from 1H 2020). Profit margin: 46% (up from 28% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 45% per year whereas the company’s share price has increased by 41% per year. Recent Insider Transactions • Jul 08
CEO, MD & Executive Director recently bought €168k worth of stock On the 2nd of July, Honglin Zhao bought around 440k shares on-market at roughly €0.38 per share. This was the largest purchase by an insider in the last 3 months. This was Honglin's only on-market trade for the last 12 months. Executive Departure • May 04
Non Executive Director has left the company On the 30th of April, David Woodall's tenure as Non Executive Director ended after 2.2 years in the role. We don't have any record of a personal shareholding under David's name. A total of 2 executives have left over the last 12 months. Upcoming Dividend • Mar 05
Upcoming Dividend of AU$0.02 Per Share Will be paid on the 30th of March to those who are registered shareholders by the 12th of March. The trailing yield of 7.3% is in the top quartile of German dividend payers (3.4%), and it is higher than industry peers (4.5%). Reported Earnings • Feb 27
Full year 2020 earnings released: EPS AU$0.18 (vs AU$0.067 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: AU$526.3m (up 43% from FY 2019). Net income: AU$204.2m (up 163% from FY 2019). Profit margin: 39% (up from 21% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Feb 18
New 90-day high: €0.26 The company is up 81% from its price of €0.14 on 20 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 71% over the same period. Is New 90 Day High Low • Jan 23
New 90-day high: €0.23 The company is up 76% from its price of €0.13 on 23 October 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 54% over the same period. Is New 90 Day High Low • Jan 08
New 90-day high: €0.22 The company is up 59% from its price of €0.14 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 53% over the same period.