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    GRNG   SE0006288015

GRÄNGES AB (PUBL)

(GRNG)
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Delayed Nasdaq Stockholm  -  11:29 2022-08-09 am EDT
87.70 SEK   -2.23%
07/15TRANSCRIPT : Gränges AB, H1 2022 Earnings Call, Jul 15, 2022
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Gränges : Gränges commits to climate neutrality by 2040 and joins the Science-Based Targets initiative

06/20/2022 | 05:14am EDT

During the last five years, Gränges has delivered strong progress towards ambitious sustainability targets. Total carbon emissions intensity has been reduced by 19 per cent versus baseline 2017, equal to an annual reduction rate of 5 per cent. The emission reduction has mainly been driven by increased circularity, and recycled volumes more than tripled in the same period. Sustainability and recycling are two critical parts of Gränges' business model, and strong drivers of the company's long-term competitiveness and value creation.

- We continue to focus on decarbonizing our business and leading the way in offering aluminium solutions that are clearly differentiated from a sustainability perspective. Committing to carbon neutrality and joining the SBTi are the natural next steps for us. Together with our customers and suppliers, Gränges can make an enormous difference, says Jörgen Rosengren, President and CEO.

Joining the SBTi demonstrates Gränges' strong sustainability commitment and dedication to reduce the climate impact from its business and along the value chain. Gränges has previously established ambitious carbon emission reduction targets for 2025 (from a 2017 baseline), and the company's new ambitious long-term target is to reach climate neutrality by 2040.

- Our new ambitious target to reach net-zero carbon emissions by 2040 clarifies the speed and magnitude of the decarbonization actions we need to take. I look forward to working with our customers and suppliers worldwide to raise the sustainability bar further and building an even stronger and more circular company for the future, says Sofia Hedevåg, SVP Sustainability.

About SBTi
The SBTi is a global partnership between Carbon Disclosure Project (CDP), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). Science-based targets provide a clearly defined pathway for companies and financial institutions to reduce greenhouse gas emissions, helping prevent the worst impacts of climate change and future-proof business growth. Targets are considered science-based if they are in line with the level of decarbonization required to keep global warming to well-below 2°C above pre-industrial levels and pursuing efforts to limit warming to 1.5°C.

Disclaimer

Gränges AB published this content on 20 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 June 2022 09:13:02 UTC.


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Financials
Sales 2022 25 087 M 2 469 M 2 469 M
Net income 2022 1 034 M 102 M 102 M
Net Debt 2022 3 968 M 391 M 391 M
P/E ratio 2022 9,01x
Yield 2022 4,16%
Capitalization 9 323 M 918 M 918 M
EV / Sales 2022 0,53x
EV / Sales 2023 0,48x
Nbr of Employees 2 650
Free-Float 98,1%
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Number of Analysts 3
Last Close Price 87,70 SEK
Average target price 102,67 SEK
Spread / Average Target 17,1%
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Managers and Directors
Jörgen Fritz Rosengren President & Chief Executive Officer
Oskar Hellström Chief Financial Officer & Deputy CEO
Knut Fredrik Jochum Arp Chairman
Kent Schölin Senior Vice President-Research & Innovation
Bilal Chebaro Chief Information Officer