Q2 2024 Granges AB Earnings Call Transcript
Key Points
- Achieved an all-time high quarterly adjusted operating profit of SEK471 million, a 5% increase year-on-year.
- Sales volume grew by 9% year-on-year, reaching 131,000 tons.
- Continued successful decarbonization efforts, with recycled aluminum now approaching 50% of input material.
- Strong performance in specialty packaging and other niche markets, contributing significantly to new business gains.
- Record sustainability performance, with a 30% reduction in carbon emissions intensity compared to 2017.
- Muted demand in core segments like automotive and HVAC, leading to subdued market growth.
- Continued price pressure and wage inflation impacting profitability, despite productivity improvements.
- Lower average fabrication prices affecting net sales growth, which increased only by 2% compared to a 9% increase in sales volume.
- Increased depreciation costs by SEK6 million due to completed expansion projects.
- Negative impact from changes in foreign exchange rates, amounting to SEK15 million.
Good morning, ladies and gentlemen, and welcome to this results presentation for Granges. I'm my name is Jörgen Rosengren. I'm Granges's CEO. And with me here is Oskar Hellstrom, our CFO.
And so Arlanda helium, who's our Head of Communications and Investor Relations. This is the second quarter of 2024 that we're going to present today, but it also happens to be the 40th quarter of greatness as listed companies since our IPO in 2014 are affected.
We're celebrating with presenting some what we call at least very good results in this quarter, and we're going to be referring to throughout the presentation two of our presentation, the PowerPoint presentation, which is available on our investor website and also broadcast here.
Turning then to the beginning of this presentation, Tom, we think that it's fair to say that this quarter has been characterized by stability and by profitability. And we set out entering this year to achieve two commercial objectives to gain new business and to protect our margin. And I'm
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
