The waste and resource management company reported that earnings before interest, tax, depreciation and amortisation (EBITDA) rose to \u00a3241.5m million, up from \u00a3211.3 million in 2023\/24, which it described as being \u201cdriven by strong operational and commercial performance\u201d across its core activities.\u00a0<\/p>\n
Operating profit increased to \u00a3140.1 million, compared with \u00a3116\u00a0million the previous year, reflecting improved trading performance.\u00a0\u00a0<\/p>\n
However, this was overshadowed by losses linked to discontinued sites, which pushed the group to a loss for the year of \u00a369.2 million, compared with a \u00a375.7 million profit in 2023\/24.\u00a0<\/p>\n
As a result, the group recorded a total comprehensive loss of \u00a340.6 million for the year, compared with total comprehensive income of \u00a376.3 million in 2023\/24.\u00a0<\/p>\n
Continuing operations at Viridor, nevertheless,\u00a0generated an underlying profit of \u00a384.8m.\u00a0<\/p>\n
Closure of Avonmouth facility\u00a0<\/p>\n
The losses\u00a0may be\u00a0linked to the Avonmouth facility, which was\u00a0closed in November 2024,<\/a>\u00a0following what it described as a \u201cdetailed strategic review\u201d of the facility, which opened in March 2022.\u00a0<\/p>\n The company said its UK mechanical recycling operations had been \u201cnegatively impacted by persistently and increasingly challenging market conditions\u201d,\u00a0alongside the absence of planned legislation to increase plastic recycling rates.\u00a0<\/p>\n In a statement\u00a0at the time of the closure, Viridor blamed delays to policies outlined in the 2018 Resources and Waste Strategy, saying the failure to implement measures on schedule had materially undermined the financial viability of domestic plastic recycling.\u00a0<\/p>\n The company also pointed to broader global pressures, including overcapacity in virgin polymer production in lower-cost markets outside Europe, which has significantly reduced demand and prices for recycled plastics.\u00a0\u00a0<\/p>\n The company\u2019s Rochester site has also stopped its operations<\/a>.\u00a0\u00a0<\/p>\n Progress on energy recovery\u00a0<\/p>\n Alongside the financial results, Viridor highlighted progress on several major infrastructure and innovation projects.\u00a0<\/p>\n Construction of the\u00a0Westfield Energy Recovery Facility<\/a> (ERF), a joint venture with\u00a0Equitix, achieved first burn in December 2024, becoming the 12th facility in Viridor\u2019s ERF fleet. The site has now completed comissioning.<\/p>\n