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rd Quarter 2021 INTERIM REPORT JANUARY - SEPTEMBER 2021 Growth and increased profit , but challenging near - term outlook Third quarter 2021 • Sales volume increased by 36.7 per cent to 118.5 ktonnes ( 86.7 ) and net sales to SEK 4,621 million ( 2,575 ) . Excluding acquisitions sales volume increased by 11.1 per cent to 96.3 ktonnes and net sales was SEK 3,888 million . o Sales volume excluding acquisitions was positively impacted by a continued year over year recovery from the COVID - 19 pandemic , but negatively impacted by a sequential slowdown in automotive demand due to the semiconductor shortage . O Adjusted operating profit increased to SEK 219 million ( 203 ) and adjusted operating profit per tonne was 1.8 KSEK ( 2.3 ) . Excluding acquisitions , adjusted operating profit was SEK 192 million . • Profit for the period increased to SEK 153 million ( 124 ) and includes no items affecting comparability ( -26 ) . o Diluted earnings per share decreased to SEK 1.44 ( 1.45 ) . o Cash flow before financing activities adjusted for expansion investments and acquisitions was SEK -135 million ( 380 ) . o Sustainability - Linked Bond of SEK 600 million issued . Financial summary SEK million Sales volume , ktonnes Net sales Adjusted operating profit² Adjusted operating margin , % Adjusted operating profit per tonne , kSEK Operating profit Operating margin , % Profit for the period Earnings per share basic , SEK Earnings per share diluted , SEK 2021 118.5 4,621 219 4.7 1.8 219 4.7 153 1.44 1.44 -220 Q3 2020 86.7 2,575 203 7.9 2.3 177 6.9 124 1.45 1.45 348 January - September 2021 • Sales volume increased by 52.3 per cent to 376.6 ktonnes ( 247.4 ) and net sales to SEK 13,272 million ( 7,858 ) . Exclud ing acquisitions sales volume increased by 23.8 per cent to 306.2 ktonnes and net sales was SEK 11,128 million . • Adjusted operating profit increased to SEK 870 million ( 455 ) and adjusted operating profit per tonne was 2.3 KSEK ( 1.8 ) . Excluding acquisitions , adjusted operating profit increased to SEK 745 million . o Profit for the period increased to SEK 618 million ( 257 ) and includes items affecting comparability of SEK -16 million ( -37 ) . • Diluted earnings per share increased to SEK 5.79 ( 3.02 ) . o Cash flow before financing activities adjusted for expansion investments and acquisitions was SEK 144 million ( 948 ) . O Net debt increased to SEK 3,810 million at 30 September 2021 ( SEK 3,292 million at 31 December 2020 ) , corre sponding to 2.2 times adjusted EBITDA¹ , 2 ( 2.2 times at 31 December 2020 ) . Δ 36.7 % 79.5 % 7.6 % -3.2 ppt -0.5 23.4 % -2.1 ppt 23.8 % -0.01 -0.02 n / a 2021 376.6 13,272 G GRÄNGES 870 6.6 2.3 854 6.4 618 5.81 5.79 -230 43.5 3,810 Jan - Sep 2020 A 52.3 % 247.4 7,858 68.9 % 91.2 % 0.8 ppt 0.5 104.5 % 1.1 ppt 140.4 % 2.79 2.78 n / a -0.2 ppt 998 455 5.8 1.8 417 5.3 257 3.02 3.02 695 43.7 2,812 GRÄNGES AB ( PUBL ) INTERIM REPORT JANUARY - SEPTEMBER 2021 12 months rolling Oct 2020 - Sep 2021 479.9 16,421 Cash flow before financing activities Equity to assets , % Net debt Return on capital employed , % ¹ Includes adjusted EBITDA for acquisitions as a part of Gränges Group for 12 months , see alternative performance measures page 25 for further information . 2 Adjusted for items affecting comparability , see Note 5 for further information . 1,063 6.5 2.2 1,020 6.2 724 7.09 7.07 -1,248 43.5 3,810 11.2 Full year A 2020 350.6 36.9 % 49.2 % 64.0 % 11,008 648 5.9 1.8 584 0.6 ppt 0.4 74.7 % 5.3 0.9 ppt 99.3 % 363 4.21 2.88 4.21 -322 2.86 287.3 % -0.2 ppt 518 43.7 3,292 8.1 3.2 ppt Page 1 of 27