Environmental company Blue Phoenix will end the 2023/2024 financial year with a profit of DKK 125 million. Significant investments in new technology will drive future growth.
The Danish economy is strong, but the construction industry continues to be affected by macroeconomic uncertainty. Despite this, Blue Phoenix, with its 18 reception and treatment facilities for soil and construction waste in Denmark, is reporting excellent results for 2023/2024.
The accounts are the first since Blue Phoenix transferred the wastewater business in Stigsnæs, now under the name Industrial Water Solutions (IWS), to DSV Miljø Group. Revenue from the sale is included in the accounts.
Blue Phoenix CEO, Nicolai Søegaard, puts the result into words:
"We are proud to deliver the best underlying operating result for our land and recycling business to date. The waste treatment area in Denmark is developing rapidly and new ambitious legislation for selective demolition and resource recycling means, together with our own sustainability ambitions, that our business must develop significantly within the coming years. That is why we are investing in the future and expanding with two high-tech sorting facilities in Copenhagen this year as well as a brand new receiving facility near Herning after the summer. Customers are demanding increased recycling and waste data, and we are going to deliver that. At the same time, the electrically powered plants will reduce our overall climate footprint and ensure that more resources end up higher in the waste hierarchy than is the case today.
The investments in the robot sorting plant for construction waste and the soil washing plant for soil represent a total of around DKK 70 million. The acquisition of the reception and treatment facility in Gadstrup and the new establishment of a reception facility in Fasterholt are also noteworthy investments.
In Dutch hands
Blue Phoenix has been in an international sales process, which resulted in the company being acquired, following strong buying interest, by the Dutch Blue Phoenix Group (BPG), which belongs to the infrastructure funds InfraVia Capital Partners and Daiwa International Capital Partners, on April 8, 2024. BPG specializes in the processing of incineration slag and operates globally.
As part of BPG, Blue Phoenix is expected to achieve better opportunities for international sales and secure access to new technologies for resource recycling.
Read Blue Phoenix's management report 2024 here:
Press Contact
Blue Phoenix
Simon Leed Krøs, Head of Communications
+45 3051 6140
sl**@*******ic.com
