The positive trend for Järnmalmer continued during FY 2017/2018. Sales and earnings reached the highest level the company has seen in its near 70-year history.
We are experiencing a strong momentum based on a long-term strategy and focus on sustainable business. Sales increased by 4% compared with the previous fiscal year to SEK 458 million and the profit after financial items reached SEK 26.7 million, an increase of just over 15%.
The global economy developed positively during the latest performance period and we experienced a relatively stable market for iron and metal scrap, with high price levels both in Sweden and internationally. In all probability, we are reaching the end of a long boom period but we are still seeing good conditions in the markets we are represented in over the current fiscal year.
Järnmalmer has invested for the future and we are now seeing the effect of the investment in new, electrically-driven production technology that significantly improves efficiency and enables greater volumes at scrapyards. The company has also recruited talented employees in production, finance, purchasing and sales to meet the greater need for services and to strengthen our position in the market.
At the start of 2018, we launched the sustainability concept “Together towards zero waste”, a system that shows real-time CO2 emissions from the recycling of our customers’ waste. The product has been developed with Chalmers Technology consultants and shows the positive effects of recycling in real time, compared to using up finite resources from our planet. Our customers are also offered the option to climate-compensate 100% of their CO2 emissions on our web portal, a unique system that we are the first to market and position Järnmalmer as one of the country’s leading players in environmental technology.
Through strong team building, we are continuing to underpin our position through long-term and innovative thinking. We want to push the recycling category forward and influence people to change their processes towards more circular and eco-friendly alternatives.