Gränges’ half-year report 2026: Strong execution drives record volume and earnings

Second quarter 2026

• Sales volume increased by 5 percent to 167.1 ktonnes (159.1).
• Adjusted operating profit increased to SEK 580 million (436) and adjusted operating profit per tonne increased to 3.5 kSEK (2.7).
• Profit for the period increased to SEK 405 million (293) and diluted earnings per share increased to SEK 3.73 (2.62).
• Operating cash flow was SEK -155 million (445).
• Return on capital employed increased to 11.8 percent (11.2 on June 30, 2025).
• Financial net debt was 1.9x adjusted EBITDA (1.6x on June 30, 2025).
• Total greenhouse gas emissions intensity (scope 1+2+3) decreased to 5.6 tonnes CO2e/tonne (6.5), and the share of sourced recycled aluminium increased to 49.2 percent (45.6).

First half-year 2026

• Sales volume increased by 5 percent to 326.9 ktonnes (310.8).
• Adjusted operating profit increased to SEK 1,040 million (844) and adjusted operating profit per tonne increased to 3.2 kSEK (2.7).
• Profit for the period increased to SEK 727 million (554) and diluted earnings per share increased to SEK 6.69 (4.95).
• Operating cash flow was SEK -488 million (466).
• Total greenhouse gas emissions intensity (scope 1+2+3) decreased to 5.9 tonnes CO2e/tonne (6.9), and the share of sourced recycled aluminium increased to 47.8 percent (44.0).

Comments by Gränges’ CEO Jörgen Rosengren: Our best quarter so far

Gränges delivered record sales volume and record earnings in the second quarter. Despite hesitant end-user demand, market share gains drove sales volume growth to 5 percent. This marks our tenth consecutive quarter of year-on-year volume growth.

In Gränges Americas, market share gains and strong operational performance created good growth in a weak market. Sales volume, pricing, recycling, and productivity more than offset large cost increases, supporting another record quarterly result. In Gränges Europe, continued market share gains resulted in strong sales volume growth particularly in automotive applications. Sales volume and pricing improvements led to increased earnings, despite negative effects from currency and cost inflation. In Gränges Asia, operations were impacted by a fire at our Shandong facility. We moved quickly to protect customer deliveries, securing supply through alternative solutions. As a result, the sales volume loss in the quarter was confined to lower-margin business and the financial impact limited.

Gränges as a whole experienced negative currency effects, continued price pressure in Asia, and cost increases in all regions. Despite these factors, our record sales volume, good pricing, improved recycling volume and profitability, as well as strong productivity led to a 33 percent increase in adjusted operating profit to SEK 580 million. This is the strongest quarterly result in the history of Gränges.

We also had record-breaking sustainability performance, reaching our lowest-ever carbon emissions intensity and highest-ever recycling. These achievements strengthen our competitiveness and contribute to long-term profitable growth.

Third quarter outlook
Market demand remains difficult to predict, but we saw a record second quarter and have good momentum going into the third.

In Asia, we expect continued price pressure and a year-on-year sales reduction of approximately 10 ktonnes in the third quarter, mainly in low-margin industrial products. All costs related to the fire will be accounted for as items affecting comparability. See page 12 of this report for details. For the other regions, we expect third-quarter sales volume to grow at a mid-to-high single-digit rate compared to last year, driven by continued market share gains. As in the second quarter, we aim to offset cost increases through price, recycling, and productivity. Foreign exchange rates are currently expected to be relatively neutral compared to the third quarter last year.

At Gränges, people make the difference. I would like to thank all my colleagues around the world for delivering our best quarter ever thanks to outstanding commitment.

Webcasted presentation
CEO Jörgen Rosengren and CFO Oskar Hellström will present Gränges’ half-year report 2026 at a webcasted conference call Thursday July 16, 2026, at 10:00 CEST.

Join the live webcast here. To participate in the Q&A following the presentation, please register here. Upon registration, phone numbers and a conference ID to access the call will be provided. Please dial in a few minutes before the start of the webcast. The presentation will be in English.