Brief: Granges Q3 Adjusted Operating Profit Increased To SEK 345 Million

Granges AB

20/10/2022 06:35

Oct 20 (Reuters) - Granges AB  GRANG.ST :
    * Q3 SALES VOLUME INCREASED BY 1.1 PER CENT TO 119.8 KTONNES
(118.5)
    * Q3 ADJUSTED OPERATING PROFIT INCREASED TO SEK 345 MILLION
(219)
    * EXTRAORDINARY UNCERTAINTY LAST TWO YEARS APPEARS TO HAVE
BECOME
NEW NORMAL
    * WE EXPECT STABLE DEMAND IN NORTH AMERICA AND ASIA DURING
NEXT
QUARTER.
    * OUR BIGGEST NEAR-TERM CHALLENGE IS SITUATION IN EUROPE,
INVOLVING BOTH INCREASING COST AND FALLING DEMAND
    * UNPRECEDENTED EUROPEAN ENERGY PRICES RISK DRIVING UP OUR
COST BY
AS MUCH AS HALF A BILLION SEK ON A FULL-YEAR BASIS
    * WE INTEND TO OFFSET SUCH COST INCREASES WITH PRODUCTIVITY
AND
PRICE INCREASES
    * TIME LAG BEFORE NEW PRICE INCREASES TAKE HOLD WILL IMPACT
SEQUENTIAL MARGIN DEVELOPMENT IN Q4.
    * IN COMING QUARTER EUROPEAN END-CUSTOMER DEMAND IS EXPECTED
TO BE
STABLE IN AUTOMOTIVE, BUT VERY WEAK IN MANY OTHER SECTORS
    * OUR SALES WILL BE FURTHER DAMPENED BY CONTINUED HIGH
DOWNSTREAM
INVENTORY LEVELS.

Source text for Eikon:  ID:nMFNc8QHGq 
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