The company’s annual results show it handled 1.82 million tonnes of waste in Europe in 2022, up from 1.67 million tonnes in 2021, representing an increase of almost 9%.
Geminor’s CEO, Kjetil Vikingstad, attributed the slower-than-anticipated development to a “turbulent 2022”, adding that the waste industry was adapting to a “new reality” in Europe.
Geminor noted that refuse derived fuel (RDF) and solid recovered fuel (SRF) accounted for more than two-thirds of the total volume it handled, having grown by 14% since 2021.
The second largest fraction after RDF was waste wood for material recycling and energy from waste (EfW), which fell by 4.5% last year, the results stated. They also said that the amount of cardboard and paper the company handled fell by 21%.
In terms of hazardous waste, Geminor said that while the tonnages it handled were “modest” compared to the bigger fractions, it had seen an increase of 41% in 2022.
The handling and treatment of waste plastic has been “a focus area” for Geminor and partner company Quantafuel, having more than tripled in 2022 compared to 2021, the results continued.
‘Turbulent year’
Reflecting on the year, Mr Vikingstad said: “It is gratifying to see that we have managed to increase our volumes quite significantly from 2021. At the same time, we had expected a somewhat larger increase.
“A turbulent year caused by high energy prices, strong inflation and lower business activity has led to a reduction in waste volumes and hence a new market situation.”
Changing markets
Mr Vikingstad said the international common denominator for 2022 was a “substantial” increase in the competition for waste volumes in the market.
He said the recycling industry had felt the consequences of the political and economic changes in 2022, some triggered by Russia’s invasion of Ukraine, with Geminor having to adapt to “a new reality” in some European markets. For example, he said, Germany and Finland went from being exporters to importing markets.
“In the UK, an increasing number of national industry players have taken a larger share of the waste volumes, leading to less export of waste resources,” Mr Vikingstad added. “We have increased our tonnage in the UK by securing more national offtake in 2022.”
In Norway, Geminor’s largest market, it handled “roughly the same” tonnages as in 2021. Last year, Geminor experienced a “more stable but competitive” Norwegian market, Mr Vikingstad noted.
Southern Europe
On the other hand, Geminor said, it has increased shipments from the surplus markets of southern and eastern Europe. “This export and supply have assisted in balancing and stabilising the market,” the company explained.
According to Geminor, Italy has been an important export market and has sent supplies of high-demand waste resources to players in both central Europe and the Nordic region. And, the Polish market continues to develop, the firm says, having seen several deliveries of RDF to Germany and others.
Mr Vikingstad highlighted that Geminor had had “a good year” in Denmark, where it increased exports “significantly” within waste wood.
He concluded by saying that the company aims to contribute to developing new surplus markets, such as France, to secure the supply to European offtakers in the coming years.
Geminor says it has an annual turnover of approximately €155 million (£136 million) and holds contracts with more than 350 waste producers and 260 EfW and recycling facilities.
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