Rana Gruber achieved record high production in the third quarter of 2023, and pays outNOK 3.23 per share as dividend.Rana Gruber produced 503 thousand metric tons iron ore concentrate in the quarter. This represents a significant increase and marks the strongest production quarter in the company's history. What's particularly satisfying is that we manage to maintain high quality even as production volume increases, and we are taking further steps towards Fe65. The revenues came in atNOK 470.1 million , up fromNOK 230.5 million in the third quarter of 2022. The increase is explained by higher realised prices, increased sales volumes, and currency effects from a weakened Norwegian krone. Together with a total cash cost ofNOK 228.7 million , this resulted in an increased operating profit (EBITDA), which ended atNOK 251.2 million . The adjusted net profit amounted toNOK 171.2 million , up fromNOK 55.4 million in the third quarter of 2022, and the board of directors decided to pay out dividends per share ofNOK 3.23 . "The third quarter marks a milestone inRana Gruber's history with the highest quarterly production ever recorded. At the same time, we continue to generate value to our shareholders and pay out 70 per cent of the adjusted net profit as dividends - for the eleventh quarter in a row," saysGunnar Moe , CEO ofRana Gruber . Please find enclosed the report for the third quarter and the presentation for both the third quarter and capital markets update. The financial results will be presented by CEOGunnar Moe and CFOErlend Høyen , 15 November,09.00 a.m. CET , followed by a capital markets update. Both presentations will be held at Haakon VIIs gate 2 inOslo . They will also be made available via a live webcast through the following link: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20231115_10 Recordings of both the presentation for the third quarter and the capital markets update event will eventually be available on https://ranagruber.no/investors/ For more information, please contact: CEO,Gunnar Moe +47 94147650 Gunnar.moe@ranagruber.no CFO,Erlend Høyen +47 90202741 Erlend.hoyen@ranagruber.no AboutRana Gruber Rana Gruber is a Norwegian iron ore producer established in 1964, with operations based on more than 200 years of mining experience. The company's products are based on natural mineral resources, which are processed and exported to customers worldwide. Key customers include steel producers and participants in the chemical industry. The company has about 300 employees and a production capacity of 1.8 million metric tons of iron ore concentrates. This information is subject to the disclosure requirements pursuant to Section 5-12 in the Norwegian Securities Trading Act. Thisstock exchange announcement was published by Vegard Nerdal, IR atRana Gruber AS on15 November 2023 at08:00 CET .
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