We believe that our economic performance must take ecological limits into consideration, and that our financial performance rests on the very idea of preserving a healthy planet. Our business strategy builds on the idea of recycling waste back to material resources. In this circular economy, sustainable financial management becomes a crucial component.
"In short, sustainable finance for Ragn-Sells indicates that economic profit goes hand in hand with an ecosystem in balance."
Madeleine Ljunggren CFO Ragn-Sells Group
During 2020, we have seen rapid advancements in the field of sustainable finance. For our business, the Swedish adoption of a national strategy for circular economy clearly connects circularity and financial imperatives. This political initiative will advance behaviour change and market demand and ultimately strengthen the climate for business and innovation so that even more circular companies can grow and develop. This is clearly in line with the European sustainable growth strategy toward climate-neutrality as expressed in the European Green Deal.
Sustainable financial flows create incentives for investments in environmentally friendly technologies, improve global environmental standards and support the industry to innovate. We warmly welcome this development and look forward to continuing our own investments in product development, production ability, and sales improvement in order to further accelerate the circular movement. A stable economic performance is a prerequisite for us to be able continue to develop our business in line with our strategy.
The operation behind our sustainable finance is divided in to three business areas working according to our general strategy and is broken down in business plans and effective target management. Each business area has clearly defined Key Performance Indicators (KPI’s). Deviations from goal completion are reported to top management in the Business Review Meetings (March, September, December) in order for an action plan to be set up, with continuous follow-up. An external management audit is conducted once every year.
In 2020, Ragn-Sells’ turnover was 6,582 MSEK, which indicates an increase of 173 MSEK, compared to 2019. Our total economic profit was 211 MSEK. In the table below, we display a complete list of our 2020 economic results.
Financially, 2020 has been yet another good year for us, despite the challenging Covid pandemic, with high volumes of material going into our treatment facilities. According to plan, we continued our journey towards a more sustainable future in 2021.
|DIRECT ECONOMIC VALUE GENERATED (MSEK)|
|DISTRIBUTED ECONOMIC VALUE|
|Suppliers and public sector*||-4,903|
|Sum of distributed value||-6,422|
|Profit from associated company||18|
|Providers of capital||-38|
Table showing: Direct economic value generated and distributed by Ragn-Sells Group 2020 (MSEK).
*Including duty rates such as waste tax, oil tax, electricity tax etc.