Mo i Rana, 27 August 2025: Rana Gruber ASA reports second quarter and first
half of 2025 results, with progress on strategic actions, cash control and
advancing to higher quality.
Highlights from the quarter:
o Strong production despite planned maintenance
o Cost discipline in a volatile environment, reducing cost in absolute terms
o Annual maintenance completed - upgrades progressing to improved quality
o Board of directors has decided to distribute NOK 24.5 million/DPS of NOK 0.66,
for Q2-2025.
Financial Performance:
Net profit for the second quarter was NOK 49.7 million (adjusted net profit of
NOK 34.7 million). The reduction in revenues compared to the same quarter last
year is primarily due to a lower iron ore prices and volume sold. Cash cost
development reduced from previous quarter and the same period last year.
In the second quarter, concentrate production reached 440 000 tonnes, up from
421 000 tonnes produced in the same period of 2024. First half production is
also up from 2024, to 913.000 tonnes produced. Magnetite production for the
quarter was 38 000 tonnes, up from 34 000 tonnes produced in the second quarter
of 2024. Going forward we gradually expect increased magnetite volumes as we
move over to the new open pit, Stensundtjern.
"In the second quarter, we successfully executed key maintenance and improvement
projects that strengthened our operational foundation, including preparatory
work for two new fine screens to be installed in the third quarter. At the same
time, the Board has decided to move forward with establishing infrastructure at
Storforshei with an investment frame of NOK 230 million. The investment is
expected to be recovered over Stensundtjern's lifetime and will also support
future deposits in the area, directly underpinning our long-term cash cost
target of USD 50-55 per tonne. The financing is secured through external debt
backed by Eksfin guarantees, and we also expect support from public schemes to
further enhance profitability. This will strengthen Rana Gruber's long-term
competitiveness," says Gunnar Moe, CEO.
Rana Gruber remains committed to deliver return to our shareholders and ability
to create profitability over time. For the eighteenth quarter in a row Rana
Gruber distribute dividends to our shareholders and the board of directors has
decided to distribute NOK 24.5 million/ DPS of NOK 0.66.
Please find enclosed the report and the presentation for the second quarter of
2025. The financial results will be presented by CEO Gunnar Moe and CFO Erlend
Høyen, 27. August at 08.00 CEST.
The presentation and a following Q&A session will be made available as a webcast
which can be reached through the following link: https://bit.ly/RG_Q2-25
A recording of the presentation and Q&A session will be available on
https://ranagruber.no/investors/
For more information, please contact:
Gunnar Moe, Chief Executive Officer: +47 941 47 650
Erlend Høyen, Chief Financial Officer: +47 902 02 741
About Rana Gruber
Rana Gruber is a Norwegian iron ore producer established in 1964, with
operations based on more than 200 years of mining experience. The company's
products are based on natural mineral resources, which are processed and
exported to customers worldwide. Key customers include steel producers and
participants in the chemical industry. The company has about 370 employees and a
production capacity of 1.8 million metric tons of iron ore concentrates.
This information is subject to the disclosure requirements pursuant to Section
5-12 in the Norwegian Securities Trading Act.
This stock exchange announcement was published by Vegard Nerdal, IR at Rana
Gruber AS on 27 August 2025 at 07:00 CEST.