Derichebourg reports strong first-half growth

scrap yard with crane
The group's recycling and environmental activities
benefited from the takeover of Spanish group Lyrsa.
25.05.2021 − 

The French recycling and services group Derichebourg says it delivered "exceptional performance” in the first half of its current business year. In particular, the concern's recycling and environmental activities benefited from the "early effects of the recovery in global economic activity and the successful integration of the businesses acquired last year in Spain,” Derichebourg said last week. The newly acquired Spanish activities comprise the metals recycling group Lyrsa, which has been consolidated since the beginning of 2020.

Derichebourg’s recycling and environmental division increased its turnover in the six-month period ended 31 March by around 42 per cent to €1.22bn. Overall, first-half revenues for the group rose by 27 per cent to €1.65bn and operating profit improved from €42m to €115.5m. Net profit attributable to shareholders reached €73.6m, more than three times the previous year’s first-half level of €22.4m.

Derichebourg expects that the favourable conditions for the recycling business that prevailed in the first half will continue in its second financial half, "with a high price environment for raw materials”. The company pointed to the strong demand for steel in China, where import duties on steel and steel scrap were abolished as of 1 May.

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