Gränges' Year-end Report January-December 2014

Improved earnings and stable volume in fourth quarter
Fourth quarter 2014

• Sales volume reached 37.7 ktonnes (37.6).


• Net sales totalled SEK 1,217 million (1,065), an increase of 14.3%.

• Adjusted operating profit amounted to SEK 103 million (84), corresponding to
an adjusted operating margin of 8.4% (7.9).

• Operating profit amounted to SEK 97 million (230). Operating profit for the
corresponding quarter last year included insurance compensation of SEK 136
million.

• Profit for the period was SEK 89 million (162). Earnings per share amounted to
SEK 1.19 (2.17).

January–December 2014

• Sales volume reached 160.0 ktonnes (158.6), an increase of 0.9% compared to
the previous year.

• Net sales totalled SEK 4,748 million (4,642), an increase of 2.3%.

• Adjusted operating profit amounted to SEK 463 million (371), corresponding to
an adjusted operating margin of 9.7% (8.0).

• Operating profit amounted to SEK 422 million (456).

• Profit for the period was SEK 319 million (309). Earnings per share amounted
to SEK 4.27 (4.14).

• Gränges has a sound financial position. At 31 December 2014, the equity/assets
ratio amounted to 47.9% and net debt corresponded to 1.2 times adjusted EBITDA
(on a rolling 12-month basis).

• The Board of Directors proposes a dividend of SEK 1.50 per share.

Comments from Gränges CEO Johan Menckel:
“Gränges performed well during the fourth quarter with a sales volume in line
with the previous year and improved earnings. Adjusted operating profit rose to
SEK 103 million, corresponding to an adjusted operating margin of 8.4%.
Continous improvements and more efficient production, in combination with
favourable foreign exchange rates contributed positively and offset higher
central costs as a result of that we now are listed and an impairment loss on
assets in Finspång.”

“The global vehicle production weakened at the end of 2014. We expect this trend
to continue during the first half of 2015. Somewhat improved growth figures are
expected during the second half of the year.”

“Overall, we still feel comfortable ahead of 2015. We have a leading global
position and a clear growth strategy where Asia and North America are
prioritised geographical areas. Our aim is to secure and further strengthen
our position with continued good profitability”, says CEO Johan Menckel.

Webcasted telephone conference
On Wednesday, 4 February 2015 at 10.00 CET, CEO Johan Menckel and CFO Oskar
Hellström will present Gränges’ year-end report for January-December 2014 via a
webcasted telephone conference. The webcast can be accessed on Gränges website
www.granges.com/investors. To take part in the telephone conference, please call
+46 851999030 (Sweden), +44 2076602077 (United Kingdom) or +1 8552692607 (USA).

For additional information, please contact:
Pernilla Grennfelt
Director Communications and Investor Relations
pernilla.grennfelt@granges.com
 (pernilla.grennfelt@granges.com)Telephone +46 (0) 702 90 99 55

The information in this year-end report 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
Wednesday, 4 February 2015 at 07.30 CET.

About Gränges
Gränges is a leading global supplier of rolled products for the brazed aluminium
heat exchanger industry. The Group develops, produces and markets advanced
materials that enhance both production economy during the customer manufacturing
process as well as the performance of the final products, the brazed heat
exchangers. Gränges has its headquarters in Stockholm, Sweden, and operates in
three geographical regions: Europe, Asia and the Americas. The company has
production, research and development facilities in Finspång, Sweden, and
Shanghai, China, with total annual capacity of approximately 210,000 metric
tonnes. Gränges was founded in 1896 and the company started its present
operations in 1972 when it started to develop material for brazed heat
exchangers. Gränges has some 950 employees and net sales in 2014 totalled
approximately SEK 4 748 million. For more information about Gränges, you are
welcome to visit www.granges.com.