Trash management company - Largest waste management company Remondis experiences a decline.
Germany's top waste management company, Remondis, has announced a decline in revenue for the first time in several years. Their earnings dropped to approximately 12.1 billion euros in the previous year, which is a decrease of 0.5 billion euros compared to 2022, as reported in Lünen, North Rhine-Westphalia, following an inquiry. Information on profits was not disclosed.
The decrease in revenue stems from the slow global economy, causing a drop in prices for scrap metals, old paper, and other materials. This has led to less money for Remondis. Yet, the company has seen an increase in the number of employees, with job positions rising to around 43,000 - an increase of about 2,000 from previous figures.
Remondis handles various waste management services including waste incineration plants, sewage treatment plants, water treatment facilities, composting facilities, landfills, facilities for processing construction waste, wood, and glass. They also have a prominent role in waste collection across several locations. Recycling plays a crucial role in the company's operations, and they oversee sorting plants for plastics as well as providing services related to waste management.
The dominance of Germany's waste management sector is noticeable, with Prezero from Neckarsulm in Baden-Württemberg as the second largest player. Prezero generated a turnover of 3.9 billion euros in the 2022/23 business year. Additionally, French waste management giant Veolia recorded a turnover of 2.8 billion euros in Germany during the 2023 fiscal year.
The German waste management industry is looking at a promising future, as the notion of the circular economy gains prominence and enjoys political support. The objective is to consider waste not as something to be discarded but as a resource that can be transformed into a new product through recycling, maintaining the material in circulation. This is especially significant for plastics, given the environmental damage they cause to landscapes and seas. However, only a fraction of the disposed plastics in Germany are repurposed into new products - the remainder is usually burned or shipped overseas.
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Despite the decline in revenue at Remondis, the largest waste management company in Germany, the company has managed to increase its workforce. The number of employees at Remondis, which is based in Lunen, North Rhine-Westphalia, has risen to around 43,000, an increase of about 2,000 from previous figures.
The German waste management sector, which includes companies like Remondis, Prezero, and Veolia, is looking forward to a promising future with the rise of the circular economy. According to political support, the aim is to consider waste as a resource that can be transformed into new products through recycling, maintaining the material in circulation.
While companies in the German waste management industry, such as Remondis, are making strides in recycling and waste management, the country still faces challenges, particularly with regard to plastics. Only a fraction of the disposed plastics in Germany are repurposed into new products, with the remainder often being burned or shipped overseas.
