The Group performed strongly in 2023, with excellent performance from our operational assets and significant progress with the construction our Riverside 2 project, which will be operational in 2026.
Results like these do not happen by accident – our performance and progress in 2023 reflect the hard work and imagination of all our employees across the business, as well staunch support from our suppliers and our customers. I would like to thank you all!
Ben Butler
Chief Financial Officer
Revenue
£199.5 million
Revenue increased by 9.1 per cent compared with 2022, mainly due to an increase in contracted gate fees and higher electricity prices. Gains were offset by lower volumes of waste processed at the Barking site as operations were interrupted in the second half year to allow the relocation of waste equipment as part of the development of the new Riverside 2 transfer station.
Underlying
EBITDA
£81.2 million
EBITDA decreased slightly compared with
2022 – a reduction of 1.6 per cent. This decline, in
spite of higher electricity and waste prices, was due to the loss of c.92GWh of electricity export due to the disconnection of the Riverside 1 EfW plant from the electricity grid to allow planned maintenance works to be completed.
Non-recyclable waste diverted from landfill
936,000 tonnes
Processing at Riverside 1 has increased
by 1kt from the prior year. This gain is offset by a 34kt reduction in the waste processed into RDF at the Barking site due to the relocation of waste equipment during the year to facilitate the construction of the Riverside 2 transfer station.
Electricity
generated
476 GWh
Electricity generation decreased by 15.8 per cent compared with 2022. This was due to the disconnection of the Riverside 1 plant from the local electricity grid for 53 days to allow the local grid operator to carry out planned maintenance works. As a result, the plant generated 0.60MWh/tonne of waste processed compared with 0.72MWh/tonne achieved in 2022.
Recyclable waste sorted
75,000 tonnes
The volume of recyclable waste processed decreased by 2kt compared with 2022 mainly due to a reduction in the comingled recycling volumes received by the Smugglers Way MRF, which is consistent with a gradual reduction in household waste arisings observed since the Covid pandemic.
Annual Report 2023
Download our 2023 Annual Report to explore how we're turning our vision into action.
Report archive
| Date | June 2023 |
|---|---|
| Title | GRI Content Index 2022 |
| Document | 57KB |
| Date | June 2023 |
| Title | 2022 Sustainability Report |
| Document | 13,656KB |
| Date | June 2023 |
| Title | 2022 Annual Report |
| Document | 16,005KB |
| Date | February 2023 |
| Title | Modern Slavery and Human Trafficking Statement 2022 |
| Document | 123KB |
| Date | January 2023 |
| Title | Gender Pay Gap Report 2021/2022 |
| Document | 253KB |
| Date | June 2023 |
|---|---|
| Title | 2021 Annual Report |
| Document | 4,586KB |
| Date | February 2023 |
| Title | Modern Slavery Statement 2021 |
| Document | 239KB |
| Date | September 2022 |
| Title | GRI Content Index 2021 |
| Document | 24KB |
| Date | August 2022 |
| Title | Sustainability Report 2021 |
| Document | 4,510KB |
| Date | February 2022 |
| Title | Gender Pay Gap Report 2020/21 |
| Document | 247KB |
| Date | December 2021 |
|---|---|
| Title | Sustainability Report 2020/21 |
| Document | 13,272KB |
| Date | December 2021 |
| Title | Cory GRI Content Index |
| Document | 24KB |
| Date | May 2021 |
| Title | Annual Review 2020 |
| Document | 21,058KB |
| Date | February 2021 |
| Title | Modern Slavery Statement |
| Document | 164KB |
| Date | December 2020 |
| Title | Cory Riverside Energy Factsheet |
| Document | 836KB |
| Date | December 2020 |
| Title | CRE Green Financing Framework and DNV Assessment |
| Document | 707KB |
| Date | November 2020 |
| Title | Gender Pay Gap Report 2019 / 20 |
| Document | 258KB |
| Date | October 2020 |
| Title | GRI Assessment 2018 |
| Document | 450KB |
| Date | September 2020 |
| Title | Annual Review 2019 |
| Document | 19,920KB |
| Date | July 2020 |
| Title | Modern Slavery Statement 2019 |
| Document | 96KB |
| Date | June 2020 |
| Title | Materiality Assessment |
| Document | 1,615KB |
| Date | September 2019 |
| Title | Sustainability Report 2018 |
| Document | 4,080KB |
| Date | September 2019 |
| Title | Gender Pay Gap Report 2018 / 19 |
| Document | 675KB |
| Date | May 2019 |
| Title | GRI Assessment 2018 |
| Document | 450KB |
| Date | March 2019 |
| Title | Gender Pay Gap Report 2017 / 18 |
| Document | 283KB |
| Date | February 2019 |
| Title | Modern Slavery and Human Trafficking Statement 2018 |
| Document | 141KB |
| Date | October 2018 |
| Title | Follow-up to Submission to HM Treasury Plastic Consultation |
| Document | 265KB |
| Date | October 2018 |
| Title | A response to UKWIN's Climate Change Impacts Report |
| Document | 455KB |
| Date | August 2018 |
| Title | The River Thames: An Untapped Asset |
| Document | 7,148KB |
| Date | March 2018 |
| Title | Gender Pay Gap Report 2016 / 2017 |
| Document | 210KB |
| Date | January 2018 |
| Title | Carbon Report |
| Document | 9,691KB |
| Date | April 2017 |
| Title | ESAET Rethinking Waste Crime |
| Document | 6,131KB |
| Date | March 2017 |
| Title | Modern Slavery and Human Trafficking Statement 2017 |
| Document | 269KB |
| Date | March 2016 |
| Title | Modern Slavery and Human Trafficking Statement 2016 |
| Document | 190KB |
