Published January 11, 2023, 3:25 pmUpdated January 11, 2023, 3:45 pm
“Goldilocks” and the landfill. It could be the intonation of a fairy tale, it is in fact the scenario with which Derichebourg, thanks to an exuberant context, signs one of the best performances of the Paris Stock Exchange since the beginning of the year (+14%). The shares of the company specializing in metal recycling today gain another 3.5%, to 6,305 euros, while the price of copper is back to flirting, in London, with the threshold of 9,000 dollars per ton. Not only that, thanks to the end of the zero-Covid policy in China, metal prices (the most expensive of those that the company recycles) reach six-month highs, but energy costs are also deflating. Copper is particularly used in the building and energy sectors.
Gas prices in Europe – an area from which the Parisian company derives almost all of its income – have been at their lowest for almost a year (at 65 euros per megawatt hour today). “Exploding energy costs are directly affecting the business of Derichebourg’s major customers”private bank Oddo BHF recently explained. Furthermore, very logically, the management announced at the beginning of December, on the occasion of the publication of its 2021-2022 accounts, that “the dissipation of fears about the availability of electricity, with a consequent drop in prices, and slightly more favorable economic expectations would probably lead to a recovery in volumes. »
+60% in three months
During the past financial year, which ended at the end of September, Derichebourg recorded record profitsthanks in particular to metal prices which reached record highs in March, before being overtaken by recession fears.
The acquisition of its main competitor, Guy Dauphin Environnement, based in the Luxembourg holding company Ecore, has allowed it to increase its exposure to rising metal prices.
For a turnover of 5.3 billion euros (+46% approximately), the company’s net profit was 237.6 million euros, an increase of 36.5% compared to the already historical one of the previous year.
Derichebourg shares have gained more than 20% since the publication of the annual accounts, fueling the rebound underway since October (+62% from the low of 3 October).