A South West business which specialises in the recovery of precious metals has slipped to a pre-tax loss in its latest results amid cost pressures.
BASF Metals Recycling Limited operates a dedicated precious metal recovery and recycling facility in Cinderford, Gloucestershire, which employs operational staff, technicians, site services teams, and management.
The company specialises in the recovery of precious metals from scrap auto catalyst material and to provide sourcing of precious metals to the ECMS division.
BASF Metals Recycling Limited is an integral part of the BASF Environmental Catalyst and Metal Solutions (ECMS) division by recycling platinum group metals from the urban mine.
It is a wholly owned subsidiary of BASF, operating as part of the broader BASF Group, which includes several other UK-based entities.
Newly-filed accounts for the year ended 31 December 2024 show the company made a pre-tax loss of just over £1m compared to a profit of £3.6m the prior period.
Turnover also fell to £219.4m from £330.7m the previous year.
A statement accompanying the results said: “The financial performance deteriorated from the prior year mainly due to a reduced recovery of metals and the cost of financing metals in the supply chain.
“The results were also impacted by the lowering of platinum group metal prices and the reduction in the grade of material received for recovery.”
Looking ahead, it added: “The company will continue to source volumes to maximise the capacity of the BASF ECMS internal refining capability and investments. This supports the company strategy of increasing the sourcing of precious metals from recycling markets.
“The company will continue to be a key strategic partner for providing PGMs to the group trading, refining and smelting operations, including supporting new markets for the recovery of PGMs and other materials.”
