Slide 1: Q3 Interim Report 2025: Market share gains drive strong growth
Q3 Interim Report 2025 Market share gains drive strong growth
Slide 2: Continued market share gains, strong growth and good cash flow
Continued market share gains, strong growth and good cash flow • Sales volume increased by 25% • Large market share gains across regions and markets… • …more than offset weak demand • Adjusted operating profit was SEK 398 million (420) • Volume, price increases and productivity offset higher cost fo
Slide 3: Increased market share drove good growth
Increased market share drove good growth External year-on-year sales volume growth Q3, 2025 Specialty Automotive HVAC packaging Other niches Total Gränges Americas → → +1% Gränges Asia +95% Gränges Europe → +17% Total +24% -9% +14% +64% +25% >+3% → -3% to +3% <-3% 3
Slide 4: Regionalized strategy minimizes impact of tariffs
Regionalized strategy minimizes impact of tariffs • Americas Europe • Increase market price for primary External sales aluminium and for scrap 153 ktonnes Share regionally • Increased pricing power of produced domestic US production 100% • Over time, tariffs could drive inflation and/or lower demand
Slide 5: Successful integration and ramp-up Shandong
Successful integration and ramp-up Shandong • Enabled 88% sales volume growth in Asia in the third quarter • Operates in line with ambition of 90 ktonnes annual volume at increasing profitability • Successful IT integration between Shandong Shandong Shanghai and Shanghai completed Yunnan • Hard work
Slide 6: Stable sustainability performance
Stable sustainability performance • Continued reduction of Carbon emissions intensity Sourced recycled aluminium carbon emissions intensity tonnes CO2e/tonne R12m ktonnes R12m 12 • Stable recycling volume but 11.4 Baseline 2017 100 400 lower recycling share in a tight scrap market 9 8.5 -35% 80 300
Slide 7: Multi-year capex expansion program finalized in 2025
Multi-year capex expansion program 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 7
Slide 8: 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 175 700 600 2,000 4 4 594 150 600 3.1 1,566 3.1 1,443 1,492 466 483 450 1,500 3 3 125 500 2.6 1
Slide 9: Financial overview Q3 2025
Financial overview Q3 2025 Q3 YTD SEK million 2025 2024 Δ 2025 2024 Δ Sales volume, ktonnes 153.4 122.7 25.0% 464.2 375.5 23.6% Net sales 6,933 5,750 20.6% 21,140 17,322 22.0% Adjusted operating profit1 398 420 -5.3% 1,242 1,247 -0.4% Adjusted operating profit per tonne, kSEK 2.6 3.4 -0.8 2.7 3.3 -0
Slide 10: Good operating cash flow drove continued reduction in net debt
Good operating cash flow drove continued reduction in net debt Change in financial net debt SEK million -2,000 Operating cash flow 1.6x SEK 317 million 1.6x -2,500 -3,000 -3,500 -118 -170 605 -61 -77 -4,000 -3,825 -4,004 -4,500 Financial Adjusted Change in Capital Taxes paid FX & Financial net debt
Slide 11: Gränges Americas Q3 2025: Share gains compensated for weak HVAC market
Gränges Americas Q3 2025: Share gains compensated for weak HVAC market • Sales volume increased Sales volume Adjusted operating profit by 1% vs last year ktonnes R12m SEK million R12m • Share gains compensated for 75 300 400 1,600 quite weak HVAC market 235 232 222 1,089 • Operating profit was 50 20
Slide 12: Gränges Asia Q3 2025: Growth from share gains and Shandong ramp-up
Gränges Asia Q3 2025: Growth from share gains and Shandong ramp-up • Sales volume increased Sales volume Adjusted operating profit by 88% vs last year1 ktonnes R12m SEK million R12m • Significant sales growth from 60 193 200 125 500 Shandong ramp-up • 22 ktonnes at increasing 45 150 100 327 400 prof
Slide 13: Gränges Europe Q3 2025: Share gains compensated for weak demand
Gränges Europe Q3 2025: Share gains compensated for weak demand • Sales volume increased Sales volume Adjusted operating profit by 17% vs last year1 ktonnes R12m SEK million R12m • Weak demand in all markets 60 183 200 150 600 compensated by share gains 159 171 50 125 500 • Operational performance 1
Slide 14: Fourth-quarter outlook
Fourth-quarter outlook • The fourth quarter is always the most difficult quarter to predict • Market share gains expected to compensate for continued weakness HVAC and Automotive • Currency • Sales volume • Continued strong volume growth expected • Scrap pricing • Price • Gränges Asia at or above cu
Slide 15: Good performance in volatile environment
Good performance in volatile environment • Regionalization, Sustainability and Electrification – trends driving our growth • Tariffs, metal pricing, demand shifts, inflation – all in the day’s work • Multi-niche strategy – to balance demand swings and optimize mix • Large capacity for growth – multi
Slide 16: Q&A
Q&A 16
Slide 17: Gränges
GRANGES