Geminor grows in a turbulent 2022

January 19, 2023
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Geminor handled 1.82 million tonnes of waste in Europe last year, an increase of almost 9 percent from 2021. At the same time, this is a more modest growth than the company expected. "The industry has had a turbulent year with significant changes in several markets," says Kjetil Vikingstad, CEO of Geminor.

The tonnage handled by Geminor in 2022 reached a total of 1 815 281 tonnes - up from 1 670 907 tonnes in 2021. Residual waste to energy recovery (RDF/SRF) is growing by as much as 14 percent and last year accounted for over 2/3 of the total volume handled by the company in Europe.

Waste wood for material and energy recovery, which is the second largest fraction after RDF, fell by 4.5 per cent last year, while cardboard and paper (RCP) fell by 21 per cent. Volumes of hazardous waste for landfill make up a modest share of the total, but increased last year by 41 per cent. The handling and treatment of waste plastics, which has been a focus area for Geminor together with its partner company Quantafuel, more than tripled in 2022 compared to the previous year.

General Manager of Geminor, Kjetil Vikingstad.

- It is gratifying to see that we have managed to increase our volumes quite significantly from 2021, and we can be satisfied with last year overall. At the same time, we had expected a somewhat larger increase, but a turbulent year caused by the war in Ukraine, high inflation, high energy prices and lower business activity has led to reduced waste volumes and a new market situation," explains Kjetil Vikingstad, CEO of Geminor.

Significant changes in individual markets

"The changes we see in 2022 have created different consequences for the recycling industry in the countries where Geminor has offices," says Vikingstad.

- We have had to adapt to a new reality in some of the markets in Europe. For example, countries such as Germany and Finland have moved from exporting to importing markets. In the UK, more and more national players are taking a larger share of waste volumes, with less going for export. "Here we have secured more national sales in the past year," says Vikingstad.

- In Norway, which is our largest market, we have handled almost the same volumes as in 2021. In 2022, we are experiencing a more established and stable market," says Vikingstad.

- "The international common denominator for 2022 is a clear increase in competition for waste volumes in the market," says Vikingstad.

Growth in the South and East

At the same time, the newer surplus markets in Southern and Eastern Europe have shown growth for Geminor, helping to supply other countries and balancing and stabilising the market.

- In 2022, Italy has been a significant export market for us, securing supplies of important waste resources to players both in Central Europe and in the Nordic region. The market in Poland also continues to develop, and we have had several RDF deliveries, including to Germany. We have also had a good year in Denmark, and we have managed to significantly increase exports of waste wood," says Vikingstad.

- If 2022 has taught us anything, it is the importance of being present in multiple markets. Therefore, our ambition is to help develop new surplus markets, including France, so that we can safely supply the European industry players in the future," concludes Kjetil Vikingstad, CEO of Geminor.