Gränges AB reports higher rolled aluminium sales volume to 350.6 kilo tonnes in 2020; Carbon emissions reduce 8%

Swedish rolled aluminium firm Gränges AB has reported its full-year results for 2020, saying that it has been a challenging yet productive year in many ways. The company’s sales volume increased, although marginally by 0.9 per cent, to 350.6 kilo tonnes versus 347.3 kilo tonnes in 2019.  Gränges accomplished sustainability achievements like significantly reducing carbon emissions and increasing the adoption of renewable energy.

Gränges said that it reduced total carbon emissions by 8 per cent from 2019 levels and 18 per cent from 2017 baseline levels, largely due to the higher use of recycled aluminium. The firm increased using recycled aluminium to 22.5 per cent of its total sourced metal inputs and grew the usage of renewable energy to 13 per cent of its total consumption.

Johan Menckel, Gränges CEO, said: “Sustainability is a strong driver and enabler of Gränges’ long-term competitiveness and value creation. We are committed to reducing the climate impact from our business and along the value chain, and we contribute to a circular and sustainable economy by leveraging the unique properties of aluminium which improve customers’ and end-users’ resource efficiency and climate performance. We are since 2016 a signatory to and support the principles of the UN Global Compact and we are also committed to helping fulfil the 2030 Agenda and Sustainable Development Goals (SDGs).”

Coming to the financial results, Gränges’ net sales decreased 8.1 per cent from SEK 11,978 million in 2019 to SEK 11,008 million in 2020. Adjusted operating profit amounted to SEK 648 million last year, reflecting a decline of 25.1 per cent from SEK 866 million in 2019. Adjusted operating profit per tonne was 1.8 kSEK in 2020 versus 2.5 kSEK in 2019. Profit for the period came in at SEK 363 million, down by 39.5 per cent from SEK 600 million in the previous year.

Johan Menckel said, “Gränges is financially strong with dedicated and competent employees who deliver world-class solutions and products. With a stronger position in growing markets and a broader offering for future transportation solutions we can further drive the development of sustainable customer offerings. With a strong commitment to continuously improve and develop, Gränges is well- positioned for continued profitable growth. Gränges will celebrate its 125th anniversary this year and I am looking forward to a prosperous 2021.”