Gränges AB, a rolled aluminum producer in Sweden, announced that the company's sales in the third quarter grew by 6.7% quarter on quarter to 122,700 tons, and the net sales went up by 3.1% quarter on quarter to 5,750 million Swedish krona.

During that period, the company's adjusted operating profit was 420 million Swedish krona, down by 4.3% from the preceding quarter. The profit reached 285 million Swedish krona, a quarter-on-quarter drop of 14.2%. The diluted earnings per share were 2.67 Swedish krona, falling from 3.12 Swedish krona in the second quarter.

In the first three quarters of this year, Gränges' sales amounted to 375,500 tons, a year-on-year growth of 5.6%. The net sales slid by 1.3% year on year to around 17,300 million Swedish krona.

In addition, Gränges' recycled aluminum usage hiked to 46.5% from 41% in the first three quarters of 2023.

The company forecasted to see an increase in fourth-quarter sales by a high-single-digit percentage compared to 2023 despite an unpredictable market demand.