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Genan Hits Record Turnover
Source: Tyre & Rubber Recycling
This turnover represented a 4.6 per cent increase on the previous year, however, earnings dropped from almost EUR3.5 million in 2021 to EUR 1.5 million in 2022. According to Genan this was largely due to high energy and freight prices. Recovery from steel dropped in value as steel prices fell throughout 2022. Genan’s CEO, Poul Steen Rasmussen said,” 2022 turned out to be a most challenging year, for us as well as many other companies; and it is a year that new will not soon forget. The price of electricity multiplied at a very short notice – especially during the third quarter of 2022, when our monthly electricity bill went from EUR7 – 800,000 to around Eur 2.2 million. Read the full story here.
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