Gränges (GRNG) Q1 2026 earnings summary

Executive summary

• Achieved record first quarter with 5% organic sales volume growth and up to 14% net sales increase year-over-year, outperforming weak and volatile market demand in all regions.

• Ninth consecutive quarter of year-on-year sales growth, driven by significant market share gains across Americas, Europe, and Asia.

• Strong operational performance and productivity improvements enabled rapid response to market opportunities and offset cost increases and negative currency effects.

• Sustainability performance improved, with lower carbon footprint and increased recycled aluminum usage, achieving AAA MSCI ESG rating.

Financial highlights

• Net sales increased 13.9% year-over-year to SEK 8,237 million.

• Adjusted EBIT/operating profit rose 12.4% to SEK 459 million, the highest ever for a first quarter; in constant currency, EBIT would have increased by 33% to SEK 544 million.

• Profit for the period increased by 24% to SEK 322 million; EPS rose to SEK 2.97.

• Operating cash flow was negative SEK 333 million, impacted by higher aluminum prices and seasonal working capital buildup.

• Net debt increased by SEK 517 million to SEK 4.6 billion; net debt/EBITDA at 1.8x, within target range.

Outlook and guidance

• Expect continued mid to high single-digit volume growth in Q2 2026, driven by ongoing market share gains.

• Plan to offset negative currency and cost effects with pricing and productivity improvements.

• Higher aluminum prices expected to continue weighing on cash flow and working capital in Q2.

• Positive year-over-year effects from improved scrap spreads and metal premiums anticipated in Q2 and Q3.

• Market demand remains weak and unpredictable, especially in Asia and automotive segments.