Alba SE hit by European sovereign debt crisis


The German recycling group Alba SE recorded declining turnover and earnings in the first half of 2012. Turnover generated by the company, which had operated under the name Interseroh SE until July, stood at €1.055bn, a decrease by 6 per cent compared with the same period last year. The group’s earnings before interest and tax (Ebit) were 20 per cent lower at €20.5m, and pre-tax earnings declined by almost €6m to €13.4m.

"The market for raw materials and therefore also secondary resources has clearly shown that the European national debt crisis has now also affected the German real economy. In view of the obvious signs of economic trouble, we therefore expect challenging times,” commented managing board chairman Axel Schweitzer.
In the face of declining prices and demand on the secondary raw materials market, Alba SE considers itself well positioned thanks to a wide range of services a “clear orientation towards profitability”. "Our efficiency programme to optimise structures and costs, already implemented in the first half of the year, will be continued", commented Mr Schweitzer, adding that strategically important decisions would not be neglected.

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