"The financial year has started well for the Stena Metall Group," said CEO Anders Jansson in the Swedish recycling concern's financial report for the first quarter of its 2017/18 year. Mr Jansson reports that continued strong market development had brought good volumes of ferrous and non-ferrous scrap at comparatively stable prices. Compared to the prior-year period, growth in revenues and earnings ran into the double digits.
Group sales reached SEK6.708bn (around €687m) in the reporting quarter, which ran from the beginning of September to the end of November 2017. This was an increase of 31 per cent. Earnings before interest, taxes, depreciation and amortisation (Ebitda) improved still more, rising by 42 per cent to SEK462m (about €47m).
The company's core business, its recycling and waste management activities, contributed SEK392m to the consolidated Ebitda. This was an increase of 64 per cent, to which all the countries where the division is active had contributed, namely Sweden, Denmark, Finland, Norway and Poland. The concern reported SEK244m (€25m) in consolidated profit before taxes, an increase of 55 per cent over the prior year.
