Derichebourg Group's Fiscal Year 2023/2024 Results

Derichebourg Group posted stable results for fiscal year 2023/2024, navigating a tough economic climate with strategic diversification. The Group's revenue for the year stood at €3.6 billion, virtually unchanged from the previous year. Key achievements included a significant 5.1% increase in Public Sector Services revenue, countering a slight 0.7% decline in the Recycling division.

Ferrous metal sales volume dropped by 5.7%, while non-ferrous metal revenue grew by 5.9%. Notably, investments in advanced sorting technologies have begun to yield returns, contributing an additional €5 million to recurring EBITDA in the second half. Despite a muted Recycling sector, the Group's strategic pivots have helped bolster non-ferrous metals revenue, which has surpassed that of scrap metal for the first time.

Public Sector Services achieved a robust growth of 5.1%, driven by new contracts in Reunion Island and Quebec. Derichebourg anticipates further improvements, forecasting a recurring EBITDA of at least €350 million for the next fiscal year, alongside significant capital expenditure constraints and a focus on maintaining free cash flow.