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Gränges makes non-cash inventory write-down
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 in accordance with the company’s financial calendar. A webcast presentation will be held the same day at 10.00 CEST.
For further information, please contact:
Oskar Hellström, CFO and Deputy CEO
oskar.hellstrom@granges.com, phone: +46 8 459 59 00
This information is information that Gränges AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-01-20 14:20 CET.
About Gränges
Gränges is an aluminium technology company who drives the development of lighter, smarter, and more sustainable aluminium products and solutions. The company offers advanced materials that enhance efficiency in the customers’ manufacturing process and the performance of the final products. Gränges’ innovative engineering has transformed the industry for more than 125 years, and the company holds leading positions in rolled products for thermal management systems, speciality packaging and selected niche applications. Gränges has production facilities and conducts sales in three regions: Asia, Europe, and Americas. The total annual production capacity amounts to 570 ktonnes. Gränges has 2,700 employees and the share is listed on Nasdaq Stockholm. More information is available at www.granges.com.
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