Challenging year with strong performance

Despite a challenging market environment, the Stena Metall Group achieved an EBITDA result of SEK 2,530 million SEK for the financial year 2022/2023, marking the third-best performance in the group's history.

Throughout the year, investments were made in new facilities, including a quarter of a billion kronor in a facility for recycling lithium-ion batteries, as well as in the development of recycling technology and expertise.

"The cost environment has been primarily driven by increased production costs, but we have managed to maintain a focus on cost efficiency. On the positive side, demand for our products and services has been high, allowing us to strengthen our market position in many industries and continue to invest in developing the business for the future," said Kristofer Sundsgård, CEO of the Stena Metall Group.

One of the major investments of the year has been in a new battery recycling facility in Halmstad, with the capacity to recycle 10,000 tons of spent batteries per year, equivalent to batteries from approximately 30,000 electric cars.

"The electrification of society has only just begun. The recycling of lithium-ion batteries from vehicles and other products will grow rapidly in the coming years, and we are building a strong platform in this area. Stena Metall's ambition is to promote a circular strategy for battery production. Therefore, we have continued to make strategic investments in battery recycling," said Kristofer Sundsgård.

Ambition for Sustainable Development

As one of the first European companies in the recycling and waste management sector, Stena Recycling joined the Science Based Targets Initiative (SBTi) in August 2023, outlining its goals for greenhouse gas reduction. Stena Aluminium has also committed to formulating climate goals based on SBTi. In the coming year, the company will continue to develop its goals and begin the work of reducing emissions in line with the Paris Agreement.

"Sustainability is integrated into everything we do and is a natural and essential part of all operations. One of Stena Metall's missions is to drive sustainable development and deliver genuinely sustainable solutions and services to partners, customers, and society at large. Despite the challenges ahead, I am confident that with maintained financial discipline and ongoing investments in technology and personnel, our market position will remain strong and competitive," concluded Kristofer Sundsgård.