Slide 1: Q2 Half-year report 2025: Strong growth and good cash flow
Q2 Half-year report 2025 Strong growth and good cash flow
Slide 2: Strong growth and good cash flow
Strong growth and good cash flow • Sales volume increased by 22% • New business in Asia and market share gains overall • Adjusted operating profit was SEK 436 million (471) • Volume, price increases and productivity offset scrap and metal premium pricing effects… • …yielding a 5% growth in constant
Slide 3: Increased market share drove good growth
Increased market share drove good growth External year-on-year sales volume growth Q2, 2025 Specialty Automotive HVAC packaging Other niches Total Gränges Americas → 0% Gränges Asia 102% Gränges Europe → → → 2% Total 15% 13% -2% 54% 22% >+3% → -3% to +3% <-3% 3
Slide 4: Regionalized strategy minimizes impact of tariffs
Regionalized strategy minimizes impact of tariffs • Americas Europe • Large increase all-in primary External sales aluminium price, and even higher 153 ktonnes increase for scrap price —lower Share regionally “spreads” produced 100% • Domestic US production more competitive • Over time, tariffs coul
Slide 5: Strong sustainability performance in the quarter
Strong sustainability performance in the quarter • Record-high recycling Carbon emissions intensity Sourced recycled aluminium volume in Q2 and R12 tonnes CO2e/tonne R12m ktonnes R12m 12 100 400 • All-time-low carbon footprint Baseline 2017 in Q2 for both scope 1+2 and 0.9 -34% 80 scope 3 9 300 0.8
Slide 6: Multi-year capex expansion program to be finalized in 2025
Multi-year capex expansion program to be finalized in 2025 Capital expenditure for expansion SEK billion 1.5 Utilization and Utilization and Expansion Expansion optimization optimization 1.0 0.5 H2 H1 ~0 0.0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 6
Slide 7: Volume growth, price and productivity offset cost increases, but not currency translation
Volume growth, price and productivity offset cost increases, but not currency translation Sales volume Adjusted operating profit Adjusted operating margin ktonnes R12m SEK million R12m kSEK per tonne R12m 175 700 500 2,000 4 4 564 1,588 150 600 3.2 475 400 1,512 1,322 2.8 2.8 471 1,500 3 3 125 500 3
Slide 8: Financial overview Q2 2025
Financial overview Q2 2025 Q2 YTD SEK million 2025 2024 Δ 2025 2024 Δ Sales volume, ktonnes 159.1 130.9 21.6% 310.8 252.8 22.9% Net sales 6,974 6,145 13.5% 14,206 11,573 22.8% Adjusted operating profit1 436 471 -7.5% 844 827 2.0% Adjusted operating profit per tonne, kSEK 2.7 3.6 -0.9 2.7 3.3 -0.6 Op
Slide 9: Reduced net debt and leverage driven by good operating cash flow
Reduced net debt and leverage driven by good operating cash flow Change in financial net debt SEK million -2,000 Operating cash flow 1.7x 1.6x SEK 445 million -2,500 -3,000 -3,500 -62 -138 645 -107 -170 -4,000 -4 -4,004 -4,168 -4,500 Financial Adjusted Change in Capital Taxes paid Dividend FX & Fina
Slide 10: Gränges Americas Q2 2025: Improved price and mix offset cost increases
Gränges Americas Q2 2025: Improved price and mix offset cost increases • Sales volume remained stable Sales volume Adjusted operating profit vs last year ktonnes R12m SEK million R12m 75 300 400 1,600 • Share gain compensated for destocking in Packaging 238 221 234 300 1,061 1,200 • Operating profit
Slide 11: Gränges Asia Q2 2025: Growth from share gains and Shandong ramp-up
Gränges Asia Q2 2025: Growth from share gains and Shandong ramp-up • Sales volume increased Sales volume Adjusted operating profit by 94% vs last year1 ktonnes R12m SEK million R12m 60 200 125 500 • Significant sales growth 169 from Shandong ramp-up 100 400 • 22 ktonnes at above 45 150 295 303 break
Slide 12: Gränges Europe Q2 2025: Share gains compensated for soft demand
Gränges Europe Q2 2025: Share gains compensated for soft demand • Sales volume increased Sales volume Adjusted operating profit by 1% vs last year1 ktonnes R12m SEK million R12m 50 200 150 600 • Soft demand in all markets 167 176 compensated by share gain, 158 125 500 40 but operational issues held
Slide 13: Third-quarter outlook
Third-quarter outlook • Continued strong volume growth expected • Ambition to retain 20-25 ktonnes in Shandong at above break-even profitability • For the rest of the Group, we expect mid-to-high single-digit sales volume growth • Aim to offset any external pressure with sales volume growth, price i
Slide 14: Q&A
Q&A
Slide 15: Gränges
GRANGES