Derichebourg expects outlook to improve in 2020/21

Derichebourg benefitted from higher scrap
prices in October and November.
10.12.2020 − 

French recycling and services group Derichebourg closed out its 2019/20 business year with lower sales and, while earnings fell, the concern still recorded a profit. Even though the economic consequences of the Covid-19 pandemic had negatively impacted results for the reporting year, company chairman and CEO Daniel Derichebourg sees “a promising outlook for growth” in the current business year. Overall, the diversity of its businesses enabled the group to “remain resilient during this unusual year,” Mr Derichebourg added.

The group’s revenues in the business year ended 30 September declined by 9 per cent to about €2.46bn. According to the financial report published on 3 December, operating profit fell by 42 per cent, from €97.5m to €56m, while net profit shrunk from €55.6m to €21.3m. The board of directors proposed that net income be allocated to retained earnings and that no dividend should be paid out for the 2019/20 year.

In the recycling and environmental services division, the downtrend was partially offset by the contribution from the Spanish metals recycler Lyrsa, which has been consolidated since January 2020. Thanks to the strong presence of this company in non-ferrous metals recycling, revenues and sales volumes in this segment were each up by around 3 per cent at €693m and 552,300 tonnes, respectively.

The full article on Derichebourg's performance in 2019/20 and its prognosis for the current business year can be read in the current issue of EUWID Recycling & Waste Management 25/2020. Premium Subscribers can read the full article right away in our e-paper issue:

E-Paper - EUWID Recycling & Waste Management

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