Earnings hit, but Genan responds to energy crisis with greater efficiency
Despite the energy-saving measures implemented in recent years, Genan’s facilities remain relatively energy intensive (Photo: Genan) Despite its turnover increasing 4.6 per cent to more than 62 million euros in 2022 – a new record for the company – tyre recycler Genan reports that decreasing steel prices and significantly higher energy and freight costs more than halved its year-on-year earnings to less than 1.5 million euros. In response, the company is now speeding up its ongoing work to invest in renewable energy sources.
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