Register for weekly alerts

Viridor earnings grow despite recycling price slowdown

Date: Wed, 25 Mar 2015 | Author: Paul Sanderson

Image for Viridor earnings grow despite recycling price slowdown

Earnings at recycling and waste management company Viridor are expected to exceed last year, according to its owner Pennon Group.

This is despite a fall in the value from recycling than it previously expected.

In a pre-close trading statement, Pennon Group said that earnings from energy recovery facilities at Viridor are expected to more than offset declines in landfill and recycling.

The statement said: “Recycling revenues are being adversely affected by current market conditions with lower recycling EBITDA in 2014/15 than expected. The recent fall in commodity prices has led to a decline in recyclate prices and UK power prices, which could impact profitability next year should these market conditions continue.”

Pennon Group also said that Viridor has now “reached a point of inflexion in its ongoing transformation from being predominantly a landfill business to becoming a leading renewable energy and recycling provider”.

 

Category: Recycling
Recoup Conference 2017Recycling UKNovelis Every Can CountsHanicke Robins Sanderson