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Grangex (GRANGEX) investor relations material
Grangex Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for H1 2026 was 11,394 KSEK, down from 13,564 KSEK year-over-year; Q2 revenue was 6,757 KSEK, up slightly from 6,548 KSEK in Q2 2025.
Operating loss (EBIT) for H1 2026 widened to -53,852 KSEK from -21,608 KSEK year-over-year; Q2 EBIT was -25,631 KSEK versus -5,552 KSEK in Q2 2025.
Net result per share for H1 2026 was -10.98 SEK (1.69), and for Q2 -7.24 SEK (0.84).
Strategic focus remained on securing project financing and preparing for a final investment decision (FID) for the Sydvaranger mine.
Several key operational and supply agreements were secured, including mining, processing, and port services.
Financial highlights
Cash and cash equivalents at period end were 53,068 KSEK, up from 44,298 KSEK year-over-year.
Total assets increased to 1,105,503 KSEK from 995,933 KSEK year-over-year.
Equity at period end was -237,686 KSEK, reflecting continued losses and negative equity.
Significant unrealized currency loss of 5,721 KSEK due to SEK/USD and SEK/NOK fluctuations.
Investments in H1 2026 totaled 45,182 KSEK, mainly for ESIA study and mine restart preparations.
Outlook and guidance
FID for Sydvaranger targeted for Q3 2026, but timing depends on ongoing financing and investor decisions.
Current working capital is insufficient for all planned activities over the next 12 months, creating material uncertainty about going concern.
Management believes project financing for Sydvaranger can be secured in 2026, combining equity and debt.
- Losses deepened and liquidity tightened as Sydvaranger financing nears decision phase.GRANGEX
Q1 2026 - Sydvaranger’s restart secures 25 years of DR grade iron ore sales to Anglo American, enabling rapid, low-risk growth.GRANGEX
Stora Aktiedagarna 2026 - Sydvaranger restart advances with improved results, key financing, and strong project outlook.GRANGEX
Q4 2025 - Restarting Sydvaranger, Grangex targets premium green steel markets with high-grade iron ore.GRANGEX
Investor presentation - Improved results and project progress, but funding and liquidity risks remain.GRANGEX
Q3 2025 - DFS confirms US$1.5bn NPV, 25-year life, strong ESG, and full permitting for 2026 restart.GRANGEX
Investor Update - Improved results and project progress, but liquidity shortfall poses going-concern risk.GRANGEX
Q2 2025 - Revenue fell and losses widened in Q3 2024 as Sydvaranger integration and studies advanced.GRANGEX
Q3 2024 - PEA confirms $1.2B NPV, 19-year life, and green steel focus with production by 2027.GRANGEX
Investor Update
Next Grangex earnings date
Next Grangex earnings date
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