Growth and wise investment mean Viridor in line for strong 2020
27th November 2019
Viridor looks set to enjoy a strong 2020 after promising half year results, announced by owners Pennon Group Plc.
The company has an excellent track record and is well-positioned to make the most of strong market dynamics and a favourable UK environment policy environment.
Focused on its infrastructure model and de-risking through long-term contracts, Viridor's investment in its portfolio of 10 Energy Recovery Facilities (ERFs) across the country has seen it enjoy profitable growth and helped it to perform consistently.
And the company's recycling division is growing, with a new world-class plastics processing facility at Avonmouth on track to create a centre of excellence for UK recycling, showcasing cutting edge innovation and technology.
Chris Loughlin, chief executive of Viridor's parent company Pennon, said: "Viridor continues to deliver sustainable growth in UK recycling and residual waste management.
"Our existing portfolio of Energy Recovery Facilities (ERFs) is consistently outperforming our investment case returns. This underpins Pennon’s earnings growth for 2020 and beyond.
"Our recycling division is on a growth trajectory with a new plastics processing facility on track to add much needed capacity in the UK market.
"With its diversified complementary operations and unique competitive advantages, Viridor is well positioned to take advantage of strong market dynamics and a favourable UK policy environment."
Other elements which contributed to Viridor's impressive performance include:
- Robust volumes and pricing in landfill and landfill gas, strong engine availability and gas collection
- Resilient performance in recycling with continued focus on quality
- Driving ongoing efficiencies in indirect costs
- Confidence in the long-term market outlook
- Growth through further investment in ERFs, plastics recycling activities and the developmment of energy parks
- Visible pipeline for future growth projects
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