Göteborg, Sweden — The recycling division of Stena Metall Group showed another strong quarterly result ending at ebitda € 39.7 million (last year € 24.2 million). According to Chief Ececutive Officer Anders Jansson, the results in all countries are above last year, driven by higher volumes and increased prices resulting in higher margins.
Stena Nordic Recycling Center in (SNRC) Halmstad and the Shredder Light Fraction plant in Grenå continue to be successful and are proceeding according to plan. A customer event took place at SNRC in Halmstad with more than 300 participants from several countries. The event was much appreciated. During the first quarter production started at the new precious metal recycling investment in SNRC. However, the production was not yet running at full capacity, leading to higher inventory levels and lower results during Q1. Ebitda after Q1 ended at – € 0,3 million (€ 0,7 million).
The integration of IL Recycling follows the set out plan helping this quarter’s result. IL Recycling was not a part of Stena Recycling during Q1 last year.
The aluminium division is benefitting from the strong business cycle resulting in higher demand for aluminum products, especially from the automotive industry. The ebitda after Q1 ended at € 1,9 milion (€ 1,4 million).
The financial year has started well for the Stena Metall Group. A continued strong market development has entailed good volumes at the same time as ferrous- and non-ferrous prices have stayed relatively stable during the period. The strong business cycle supports the raw material prices. Steelmills are performing well and the demand for scrap iron is high. Related to the price development Stena Metall continues to position itself in the front end. Focus on delivering high quality to its customers in parallel with taking the next step in the value chain (Stena Nordic Recycling Centre) makes Stena well positioned for the future.
Source: Stena Metall Group