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The Annual General Meeting of Gränges AB will be held at 17.00 CET on Thursday 27 April 2023 at IVA Konferenscenter (Wallenbergsalen), Grev Turegatan 16, Stockholm. Registration begins at 16.30 CET.
English translation for information purposes only. If there are differences between the English translation and the Swedish original, the Swedish text will take precedence.
Gränges has published its Annual and Sustainability Report 2022 including a version in European Single Electronic Format (ESEF). The report is from today available on the company’s website and in the file attached.
Polestar 0 is a project with the ambition to create a truly climate-neutral car by 2030. With leading expertise in rolled aluminium, Gränges will contribute to research and development of circular and low-climate impact aluminium materials and processes in this partnership.
A stable fourth quarter concluded a record year
Fourth quarter 2022
To meet the growing demand for battery components in Europe, Gränges plans to invest SEK 600 million over two years to double its capacity for battery cathode foil production in Finspång, Sweden. The new capacity is planned to come online during 2025.
As a result of impairment review, Gränges will make a non-cash inventory write-down relating to raw materials imported by Gränges Americas in the first three quarters of 2022. The write-down will affect the full-year adjusted operating profit by approximately SEK -80 million.
The amount stated in this press release is preliminary and unaudited. Gränges will not make any further comments on the financial development until the year-end report for 2022 has been published.
Gränges’ year-end report for the period January–December 2022 will be published at 07.30 CEST on Thursday, 26 January 2023.
Gränges has entered two new credit facility agreements and refinanced part of the debt portfolio.
Gränges Americas Inc. has successfully achieved dual certification against the Aluminium Stewardship Initiative’s (ASI) Performance Standard and Chain of Custody Standard, covering three production facilities as well as the corporate office in the US. This was announced by ASI today.
Improved earnings and cash flow despite challenges
Third quarter 2022
