Järnmalmer continues to generate success in the recycling industry. The 2018/2019 financial year was in many ways an exciting and memorable one. Järnmalmer was named scrap recycler of the year in Sweden, while the year’s results were the strongest in the company’s 70-year history.
We have been good at thinking in a new way, developing and understanding our surroundings. In this way, we have also been able to create value for our customers and partners. For us, it is obvious today to be able to show customers what the environmental impact of recycling entails and that customers are given the opportunity to climate-compensate carbon dioxide emissions from their own material. Digitally in real-time.
During autumn 2019, we also launched an on-demand system for emptying our containers, “Swipe for zero”, whereby pushing a button on the container the customer can get it emptied, and carbon dioxide emissions from transport and recycling are climate compensated.
Our ambition has been to raise the category of recycling, so that our industry becomes an example in the environmental field, which can in turn inspire other companies and industries, and then we will really achieve change. The company is bubbling with ideas and activities, and we look forward to more development and more innovation. We call it “Together towards zero waste”.
Sales amounted to SEK 365 million in 2018/2019 and the profit after financial items reached SEK 27.9 million. The equity/assets ratio was 75% with a total balance sheet total of SEK 120 million and the net margin in the business increased from 5.8% to 7.7%.
The world economy has been strong for a long time, but we are now seeing a slowdown and global growth is decelerating. China continues to play a decisive role in global development, but the Chinese economy is also losing momentum. At the same time, it should be borne in mind that China still has expected annual growth of 6.0% in 2020 and on a declining scale to 5.4% in 2023, according to the National Institute of Economic Research’s state forecast from the last quarter of 2019. But annual growth in China can be compared with the entire Australian economy.
We assess that the market for iron and metal scrap will be more uncertain during the coming financial year of 2019/2020. We expect a tighter business cycle with lower growth and a more rapid slowdown of the Swedish economy than projected earlier.
With knowledge, financial strength and a strong drive for development, the company is moving into a new, exciting decade where our industry will be driven by new technology and distinctive industrial thinking.
Mattias Malmer, CEO