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ARGO's nine owner municipalities have just approved the structure of the future ARGO Group. At the same time, the company's annual results show that ARGO is facing the coming competitive tendering of the waste industry with a solid economy.
A profit of DKK 68.6 million and some of the country's most competitive rates for waste incineration. These are ARGO's recently published annual results for 2023. The municipal councils in ARGO's nine owner municipalities have now approved the company's structure for the future ARGO Group with a solid financial foundation.
ARGO can therefore enter the competition for converting waste suitable for incineration into resources well equipped. This will happen on January 1, 2025, when the country's waste and energy companies will be exposed to competition.
We have worked well with the owners to transform ARGO into a public limited company. At the same time, ARGO delivers a satisfactory annual result, which gives the future ARGO Group a solid financial foundation for the competition that lies ahead. We are therefore optimistic about the future and the exposure to competition," says Tomas Breddam, Chairman of the Board of ARGO.
ARGO's robust economy means that the company will lower several fees from next year. These include the municipalities' payment for ARGO to operate recycling centres, handle and forward waste for treatment. At the same time, the company is significantly lowering the fee for food waste management by just over DKK 200 per tonne. The fees are included in the municipalities' setting of household waste fees.
At ARGO's 14 recycling centres, we handled more than 145,000 tonnes of waste in 2023 and sent 81.5 percent of the waste for recycling. At the same time, ARGO's three second-hand stores sold approximately 345,000 returned items,saving approximately 4,400 tonnes ofCO2. By 2024, ARGO expects to further increaseCO2 savings by launching direct reuse at all its recycling centres.
This means that citizens and businesses will have better access to drop off items for reuse, while also being able to take items from the same area for free. This gives ARGO, citizens and businesses new opportunities to prevent waste and contribute even more to the green transition," says Tomas Breddam, Chairman of the Board of ARGO.
With a goal of establishing carbon capture by 2030 - and preferably earlier - ARGO will in 2024 also have a strong focus on preparing a future carbon capture plant. The company has already invited potential business partners from all parts of the value chain for market dialogue.