STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Gränges AB (STO:GRNG)
Targets and strategic plans to the year 2020, involving a sharper focus on growth and innovation, will be presented at Gränges’ capital markets day in Stockholm on Tuesday. Gränges ambition for 2020 can be summarised thus:
· Grow significantly above the market rate
· Market leading position in all geographical regions
· Maintain strong and sustainable profitability
Gränges’ strategic direction is the development and strengthening of its leading position globally in aluminium heat exchange materials.
“We have a unique position in our industry. Through innovation and expansion, we believe that we will grow faster than the market in the coming years. Indeed, our goal is to be the market leader in all geographical regions by 2020, with growth driving strong and sustainable profitability,” says Gränges’ CEO Johan Menckel.
The development of new products and processes will support continued strong growth in Gränges’ existing operations. Gränges also intends to expand its presence by adding new capacity, primarily in North America and Asia. These initiatives will ensure that Gränges has a market leading position in all regions by 2020. The market Gränges is referring to is the global production of light vehicles, which, according to analysts IHS, is forecast to grow 3 % per year between 2016 and 2020.
Growth in the years ahead is set to maintain solid and sustainable profitability. By increasing our focus on sustainability issues, we can build long-term value. Another important area is our continual rationalisation of operations, which in Gränges’ case is closely linked to climate and environmental issues. Increased use of recycled aluminium, reduced energy use and improved diversity are some of the overarching goals for Gränges.
Gränges’ long-term financial goals remain unchanged. These indicate that Gränges will grow at least in line with the market, generating a yield on capital employed of 15-20 %, and net debt in the range of 1-2 times the EBITDA-result.
Gränges capital markets day 2016 will be held in Stockholm on Tuesday, March 15 2016. Presentations will be made available at granges.com/investors the following day.
The information in this press release is such that Gränges must disclose pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication on Tuesday, 15 March 2016 at 13.30 CET.
Gränges is a leading global supplier of rolled products for brazed aluminium heat exchangers. The company develops, produces and markets advanced materials that enhance efficiency in the customer manufacturing process and the performance of the final products; brazed heat exchangers. The company’s geographical markets are Europe, Asia and the Americas. Its production facilities are located in Finspång, Sweden, and Shanghai, China, and have a combined annual capacity of 220,000 metric tonnes. Gränges has some 950 employees and net sales in 2015 totalled SEK 5,494 million. The share has been listed on Nasdaq Stockholm since October 2014. More information on Gränges is available at granges.com.
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