Granges AB (FRA:9GR)
€ 10.86 0.13 (1.21%) Market Cap: 1.14 Bil Enterprise Value: 1.41 Bil PE Ratio: 14.33 PB Ratio: 1.43 GF Score: 87/100
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Q3 2023 Granges AB Earnings Call Transcript

Oct 26, 2023 / 08:00AM GMT
Release Date Price: €7.8 (+2.23%)
JÃ;rgen Rosengren;nges AB;President;CEO
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Good morning, ladies and gentlemen. My name is Jörgen Rosengren, and I'm the CEO of Gränges, and I'd like to welcome all of you to this earnings call for the third quarter of 2023. With me here, I have our CFO, Oskar Hellström.

Let's start with the comments on the third quarter, which was on, in many, many respects, a very good quarter. Most of all, we're proud of the strong profitability and the record cash flow in the quarter. We saw in the third quarter stable sales volumes of 115,000 tonnes compared to 120,000 tonnes last year. This is slightly down, as you can see, and that's more or less in line with the market development we've had and sales development that we've had earlier in this year of 2023.

The background to that is that in automotive, we see stability in the demand. But in the large HVAC segment, we see our return to the normal seasonality in that segment, which is, of course, weaker in the fall and stronger in the spring. And in the past years, that

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