Alba SE posts jump in first-half turnover despite declining volumes

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Scrap metals recycler Alba SE reported favourable business developments in the first half of 2022. The German group’s turnover and earnings increased significantly, according to its interim report published in mid-August. However, the outlook for the second half of the year is far more pessimistic. The group’s management, led by Eric Schweitzer, reiterated the plans to sell off Alba SE, as previously announced in March.

Alba Europe Holding owns all but the approximately 6 per cent of shares of Alba SE in free float, and is itself a 100 per cent subsidiary of Berlin-based Alba Group KG. Since July of this year, Alba Group KG has been wholly owned by Eric Schweitzer and his children. Prior to the split, his brother Axel Schweitzer, who at that time held half of Alba Group, assumed ownership of specific business areas including the plastics recycling and Asian activities and then transferred them to a new group called Interzero. This had completed the realignment of the Alba Group that was announced one year ago, Alba SE said in its half-year report....

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