(Boursier.com) — After 3 months of activity at the end of December 2022, the group’s turnover Derichebourg increased by +12.4% compared to last year. It stands at 1.078 billion euros. It includes the contribution of Ecore group recycling centers.
Current EBITDA at the end of December 2022 stood at 85.9 ME, a figure slightly lower than that of last year (90.1 ME). As already announced when the annual results were published, the first months of the fiscal year were marked in the Environmental Services business by sales volumes held back by high energy prices and cautious economic forecasts. Average selling prices for scrap and non-ferrous metals are lower than last year: -12% and -14% respectively, but unit margins have remained at satisfactory levels.
Outlook
The outlook for the coming months is improving:
– electricity prices on the spot market and on the futures markets have fallen sharply since last autumn, which allows the main steel customers in the electricity sector to envisage increased production
– Turkey has increasing scrap needs, which supports prices
– demand for non-ferrous metals is on the rise again compared to the last quarter of calendar year 2022, in particular for aluminum
The group has kept the disposal commitments made before the European Commission in order to be authorized to acquire Ecore: in January 2023, it sold the 8 sites it had agreed to sell.
In the Multiservices business, the steps prior to the extraordinary shareholders’ meeting of Elior Group to vote on the proposed contribution of this division are continuing, in accordance with the schedule set.
The long-term fundamentals of the businesses remain buoyant:
– raw materials from recycling contribute to the fight against global warming, compared to the primary production of metal. Several electric arc steelworks construction projects should see the light of day in Europe in the years to come.
– companies continue to outsource services to focus on their core business.
©2023 Boursier.com