Brief: Granges Q4 Adjusted Operating Profit Falls To SEK 139 Mln

Granges AB

27/01/2022 06:34

Jan 27 (Reuters) - Granges AB  GRANG.ST :
    * GRÄNGES’ YEAR-END REPORT JANUARY–DECEMBER 2021
    * TOUGH ENDING TO 2021 - AIMING FOR RECOVERY
    * Q4 ADJUSTED OPERATING PROFIT DECREASED TO SEK 139 MILLION
(193)
    * STRONG MARKET IN GENERAL BUT WEAK IN AUTOMOTIVE.
    * AS EXPECTED, DEMAND FROM AUTOMOTIVE CUSTOMERS REMAINED LOW
IN Q4
AS A RESULT OF SEMICONDUCTOR SHORTAGES.
    * Q4 PROFIT FOR PERIOD DECREASED TO SEK -23 MILLION (106)
    * ANALYSTS CURRENTLY FORECAST SHORTAGE OF SEMICONDUCTORS TO
NEGATIVELY IMPACT AUTOMOTIVE PRODUCTION DURING AT LEAST FIRST
HALF OF 2022.
    * WE THEREFORE EXPECT VOLUMES IN Q1 TO INCREASE SEQUENTIALLY
TO
APPROXIMATELY SAME LEVEL AS IN STRONG Q1 OF 2021.
    * COMBINED WITH A STRONG FOCUS ON COST AND PRODUCTIVITY IN
ALL OUR
UNITS, WE EXPECT THESE INCREASES TO OFFSET A LARGE PART OF COST
INCREASES DURING Q1 OF 2022.
    * Q4 SALES VOLUME INCREASED BY 8.7 PER CENT TO 112.3 KTONNES
(103.3) AND NET SALES TO SEK 4,857 MILLION (3,149)
    * BOARD OF DIRECTORS PROPOSES A DIVIDEND OF SEK 2.25 (1.10)
PER
SHARE, CORRESPONDING TO 40 PER CENT (32) OF PROFIT FOR YEAR.

Source text for Eikon:  ID:nMFN9D19yh 
Further company coverage:  GRANG.ST 

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