Derichebourg reports weaker earnings

Derichebourg's recycling division recorded a 7 per cent
decline in ferrous and non-ferrous scrap volumes
05.12.2019 − 

The Sino-US trade ware and other geopolitical developments adversely impacted Derichebourg's recycling activities in the financial year ended 30 September. The French group reports that revenues from its recycling and environmental services division were down by 13 per cent to around €1.85bn for 2018/19. The volume of ferrous and non-ferrous scrap it handled was also lower than in the previous year, having fallen 7 per cent to 3.98 million tonnes, according to the company's figures published in Paris on Wednesday.

On a consolidated basis, Derichebourg recorded a 7 per cent decline in revenues, bringing the figure to around €2.71bn for the financial year. Net income came to €56m, compared with €71m a year earlier. The 22 per cent decline could be attributed almost entirely to higher taxes, said the French concern.

Derichebourg described business in its recycling division during the first two months of the current financial year as relatively quiet in terms of volumes. Scrap prices had now begun to rise again after bottoming out in October 2019.

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