Brief: Granges Expects Q3 Sales Volume To Decline YoY

Granges AB

14/07/2023 07:20

July 14 (Reuters) - Granges AB  GRANG.ST :
    * GENERAL ECONOMIC SLOW-DOWN COMBINED WITH HIGH DOWNSTREAM
INVENTORY LEVELS CONTINUED TO PUT PRESSURE ON DEMAND IN MOST
CUSTOMER GROUPS
    * IN ASIA, WE ALSO SAW A STRONG RECOVERY FROM Q2 2022, WHICH
WAS
IMPACTED BY COVID-19 LOCKDOWN
    * IN Q3, WE EXPECT SOFTER YEAR-ON-YEAR DEMAND IN MOST
MARKETS BUT
STABLE DEMAND FROM AUTOMOTIVE CUSTOMERS
    * WE INTEND TO CONTINUE TO MEET DEMAND VARIATION WITH
FLEXIBILITY
AND NEW BUSINESS GROWTH
    * IN TOTAL, WE EXPECT SALES VOLUME IN Q3 2023 TO DECLINE
YEAR-ON-YEAR BY A MID-TO-HIGH SINGLE-DIGIT PERCENTAGE
    * POSITIVE TIMING EFFECTS FROM SURCHARGE CLAUSES IN CUSTOMER
CONTRACTS IN Q2 ARE NOT EXPECTED TO RECUR IN Q3
    * WE EXPECT OPERATING PROFIT PER TONNE IN Q3 TO BE WEAKER
SEQUENTIALLY BUT STRONGER YEAR-OVER-YEAR

Source text for Eikon:  ID:nMFN1RyPpv 
Further company coverage:  GRANG.ST 

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