Market conditions in 2024 continued to be tough for the recycling industry as a whole and we, along with others, had to manage reduced margins and volume.
However, there are reasons for Genus Recycling to be optimistic as we take on 2025. A small uptick in demand and price for packaging grades greeted us at the start of this year and the development work that our commercial team has carried out in the past 18 months will stand us in good stead.
Although volume in general has reduced we now have a wider range of outlets and options than we did back in 2022/2023.
Our geographic spread for export tonnes was previously concentrated on Germany (75%) and the Netherlands (25%) but has expanded to a more evenly distributed spread that now takes in Belgium, France, Austria and others.
At the same time our number of end user customers has also increased by around 50% and we continue discussions with other prospective customers that we hope to convert in 2025.
All of this has been supported by our increased number of VAT registrations so that DDP deliveries are possible across the EU with a range of transport routes possible ensuring maximum convenience for our customers as we take care of all customs and VAT arrangements. We are now registered in France, Belgium, Netherlands and Germany.
The development work continues as we strive to have the maximum options possible for all our partners and we have made exciting progress in our efforts to source recyclates down stream by dealing with more direct at source clients. More on this later!