2022 was a landmark year for the Group. Whilst continuing to deliver operational excellence with its existing assets in London, the Group also made a significant acquisition in East London and reached financial close on our Riverside 2 energy from waste project, which has essentially doubled the scale of the Group. Cory’s river-based business model is unique in the UK, and I am proud of our teams across the business who have all played a part in securing this vital new infrastructure for our capital city and its surrounds.

Ben Butler
Chief Financial Officer

Key performance indicators

 

Download 2022 Annual Report

Underlying revenue

 £181.8 million

Revenue increased by 30.8% compared with 2021 as a result of the addition of £21.7m of revenue from the Barking operations aquired at the start of the year. Like-for-like revenue is £161.1m (+15%) due to strong revenue growth through increased processing and higher electricity prices. Average gate fee prices increased by 4.7% compared with 2021.

Underlying
EBITDA

£82.5 million

EBITDA increased by 12.2% compared with 2021 as a result of additional electricity revenue, additional waste volumes received and an increase in gate fees. Like-for-like operational costs increased by 7% compared with 2021, mainly as a result of higher energy input costs.

Non-recyclable waste diverted from landfill

969,000 tonnes

Processing at Riverside 1 has increased by 7kt from the prior year. A further 180kt of non-recyclable waste has been processed at the newly-acquired Barking facility.

Electricity generated

565 GWh

Electricity generated increased by 6.2% on 2021. This was due to an increase in the efficiency of the plant with 0.72MWh of electricity generated from each tonne of waste processed compared with 0.68MWh in 2021 (+5.9%). The volume of waste processed by the Riverside 1 EfW plant also increased (+1.0%), which contributed to the volume of electricity exported.

Recyclable waste sorted

77,000 tonnes

The volume of recyclable waste processed increased by 6kt compared with 2021, due to the addition of Barking recycling operations.

Cory_ARSR23_assets.jpg
Annual Report 2022

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Report archive

Date June 2023
Title GRI Content Index 2022
Document 57KB
Date June 2023
Title 2022 Sustainability Report
Document 13,656KB
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 July 2022
Title Cory Tax Strategy 2022
Document 91KB
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 CRE Green Financing Framework and DNV Assessment
Document 707KB
Date December 2020
Title Cory Riverside Energy Factsheet
Document 836KB
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 January 2020
Title Cory Riverside Energy Tax Strategy
Document 128KB
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

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