The deteriorating economic situation contributed to a 10 per cent decrease in turnover for German scrap recycler Scholz AG in the first half of 2012 to €2.59bn. Total volumes also fell short of the prior-year level and stood at 5.4 million tonnes, according to the half-year report published by the company today. Lower commodity prices also left their mark. The company's pre-tax profit in the first half of 2012 was nearly €30m lower than one year before and stood at €23m.
The sovereign debt crisis and the increased incertainty resulting from it continue to affect the outlook for 2012. Against this background, Scholz AG forecast full-year volumes in 2012 to be "below average" and the net result to be lower than the prior-year level.