The ferrous and non-ferrous scrap recycling operations of German group Alba SE closed the first six months of 2014 with a profit. The division recorded pre-tax earnings of €0.6m, the company reported on 14 August. In the same period last year, the scrap recycling operations had recorded a pre-tax loss of €10.8m.
Lower prices resulted in a decline in the scrap recycling division's turnover from €719.3m in the first half of 2013 to €595.2m in 2014. The amounts of both ferrous and non-ferrous scrap handled were slightly higher than last year and stood at 1.18 million tonnes in the case of ferrous scrap and 171,000 tonnes in the case of non-ferrous scrap.
"These results clearly show that we are on the right track with the integration of the steel and metals recycling in the waste management and recycling divisions of the Alba Group, and that our cost reduction and portfolio optimisation strategy is taking effect,”, commented Axel Schweitzer, the chairman of the company’s administrative board.