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ARGO's new annual report shows that based on a good annual result in 2022, the company returned almost DKK 49 million to customers and thus ended up with an overall bottom line that was approximately in balance.
The profit in 2022 reflects an overall robust operating economy in ARGO, which is a prerequisite for stable and low prices for ARGO's customers. At the same time, the healthy operating economy lays the foundation for ARGO to continue to be a key player in the green transition, where the focus is on maximizing recycling and reuse in waste management.
Secure energy supply and low prices
Roskilde The CHP plant utilized 348,204 tons of residual waste during 2022, which means that ARGO has supplied power to 64,400 households and district heating to 50,300 households without using oil, gas or coal. ARGO thereby contributes to reduced CO2 emissions as well as secure and stable energy production that is not dependent on imports of gas, for example.
Over 25% of the residual waste utilized for energy is foreign waste, namely non-recyclable residual waste that would otherwise have been landfilled in other European countries to the detriment of the climate and environment. The energy recovery of the foreign residual waste provides a global climate benefit by, among other things, replacing fossil fuels, and in 2022, the total global emission of CO2 is estimated to be reduced by approximately 10,000 tons as a result of ARGO's import of residual waste.
Unfortunately, however, the good financial results for the CHP plant have partly been achieved against a sad background, namely the international crisis caused by the war in Ukraine. ARGO produces electricity at Roskilde CHP plant, and the high market prices have made it possible to generate an abnormally large profit.
It's clear that 2022 has been a special year, characterized by the international crisis and high energy prices. As ARGO currently operates on a non-profit principle, the extraordinary profit from the sale of electricity should benefit customers, so the Board of Directors decided to return DKK 40.1 million to waste and heating customers. Specifically, this was done by reducing the district heating price and reducing the fee for waste disposal from DKK 420 per ton of waste to DKK 360 per ton of waste. The reduction in the heating price can help neutralize any price increases on other fuels
Niels Hörup, Chairman of the Board of ARGO
Good result for the recycling centers
ARGO's recycling centers also generated a good financial result in 2022, partly due to increased revenue from the sale of recyclable materials. The company's board of directors therefore chose to return part of the profit to consumers by distributing a total of DKK 8.7 million to the municipalities for which ARGO operates recycling centers.
Significant contribution to the treasury
In addition to ARGO ensuring low prices for customers, the waste and energy company also contributes to the treasury. In 2022, the company paid DKK 195.6 million in the form of taxes and CO2 quotas.
Of this, almost DKK 50 million comes from the energy recovery of imported, non-recyclable residual waste. As mentioned, the energy utilization of foreign residual waste thus provides both a global climate benefit, better security of supply for Danish district heating and a contribution to the national treasury.
Social responsibility and initiatives
ARGO has a social responsibility, and this is exercised, among other things, by collaborating on a number of charitable initiatives, where ARGO's second-hand shops 'Gensalg' are the focal point. The second-hand shops supply, among other things, used items for various socially beneficial purposes.
ARGO contributes to bringing people on the edge of labour market into ordinary employment. In collaboration with the Prison and Probation Service, job centers, and municipalities, ARGO has had 32 people employed in Gensalg and 25 people in special workshops outside ARGO throughout 2021. In addition, ARGO has had a number of citizens in flex jobs, community service, work trials and internships.
ARGO's annual report can be read by clicking here
Further information
Questions can be directed to Director Trine Lindegaard Holmberg on mobile 2928 8844 or email tlh@argo.dk
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Facts about ARGO
ARGO is a waste and energy company that treats waste for citizens and businesses in nine municipalities on Zealand. ARGO's mission is to create sustainable waste solutions that promote the green transition. As much waste as possible must be reused and recycled, and energy utilization must be done in an environmentally sound manner and with the greatest possible yield in the form of electricity and district heating. ARGO has a turnover of approximately DKK 786 million annually (2022) and 170 employees spread across recycling stores, recycling centers, CHP plant, landfill and administration. ARGO is environmentally and health and safety certified according to the standards ISO 14.001 and ISO 45.001.
ARGO Board of Directors 2022-2025:
Chairman of the Board Niels Hörup (Solrød Municipality), Vice Chairman Tomas Breddam (Roskilde Municipality), Torben Hoffmann (Greve Municipality), John Harpøth (Holbæk Municipality), Martin Schwartzbach (Kalundborg Municipality), Jonas Peter Bjørn Whitehorn (Køge Municipality), Bjørn Lykke Sørensen (Lejre Municipality), Thomas Nicolaisen (Odsherred Municipality) and Flemming Petersen (Stevns Municipality).