Rana Gruber achieved record high revenues and adjusted net profit for the fourth quarter of 2023. The board of directors decided to pay out a quarterly dividend ofNOK 4.27 per share. This marks the 12th consecutive quarter of dividends from the company, with a total payout per share ofNOK 12.36 for the financial year of 2023. Revenues for the fourth quarter came in at record highNOK 620.2 million , up fromNOK 382.8 million in the fourth quarter of 2022. The increase is driven by higher realised prices, increased sales volumes, as well as currency effects from a weakened Norwegian krone. Together with a total cash cost ofNOK 243.2 million , this resulted in an increased operating profit (EBITDA), which ended atNOK 350.5 million . The adjusted net profit amounted toNOK 226.1 million , up fromNOK 158.1 million in the fourth quarter of 2022. For the financial year net profit came inn atNOK 490 million and adjusted net profit came in atNOK 655 million . ForRana Gruber 2023 therefor stands out as one of the best financial results in the company's nearly 60-year history. "The fourth quarter is a solid end to a remarkable year forRana Gruber . Production reached record high volumes in 2023 and we have at the same time achieved a steady increase in quality on our main product, Hematite. We expect the strong production and quality trend to continue," saysGunnar Moe , CEO ofRana Gruber .Rana Gruber has recently completed the analysis of the exploration drilling which was performed in the Ørtfjell area during the summer of 2023. The results were successful and enables a one year extension of the open pit activities in the Ørtfjell area. This extension will giveRana Gruber additional time to develop more cost-efficient production strategy for the Steinsundtjern deposit. The production volumes in the quarter were as announced in the production update in January, 453 thousand metric tons. This represents a slight decrease from 461 thousand metric tons produced in the same quarter in 2022, due to a longer planned maintenance stop than the year before. This stop was a crucial part of the strategic project to increase the magnetite production going forward. ----- Please find enclosed the report and the presentation for the fourth quarter of 2023. The financial results will be presented by CEOGunnar Moe and CFOErlend Høyen , 15 February at08.00 a.m. CET . The presentation and a following Q&A session will be made available as a webcast which can be reached through the following link: https://bit.ly/ranaQ4-23 A recording of the presentation and Q&A session will be available on https://ranagruber.no/investors/ For more information, please contact: CEO,Gunnar Moe +47 941 47 650 Gunnar.moe@ranagruber.no CFO,Erlend Høyen +47 902 02 741 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 370 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 February 2024 at07:00 CET .
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