Gränges (GRNG) Q4 2025 earnings summary

Executive summary

• Achieved record sales volume and operating profit for the fifth consecutive year in 2025, driven by strong market share gains and growth in all regions despite weak HVAC demand, volatile market conditions, and currency headwinds.

• Sustainability performance reached new highs, including record-low carbon intensity and record recycling volumes, keeping ahead of 2030 targets.

• Completed multi-year capacity expansion phase, shifting focus to optimizing utilization, price, mix, and productivity.

• Improved cash generation due to lower expansion capex and finalized capacity investments.

Financial highlights

• Q4 sales volume up 17% year-over-year to 152.4 ktonnes; full year up 22% to 616.6 ktonnes.

• Q4 net sales grew 17% to SEK 7,222 million; full year up 21% to SEK 28,362 million.

• Q4 operating profit rose 15% to SEK 373 million; full year EBIT reached SEK 1,614 million.

• Q4 profit for the period increased to SEK 251 million (+43% YoY); full year profit up 5% to SEK 1,058 million.

• Earnings per share hit a record SEK 9.54 for the year.

Outlook and guidance

• Forecasts low to mid-single-digit sales volume growth in Q1 2026, mainly from market share gains and new business.

• Negative currency effects of around SEK 80 million and higher aluminum prices expected to weigh on Q1 2026 operating cash flow.

• No significant capacity expansion CapEx planned for 2026–2027; CapEx for 2026 guided at SEK 600 million.