Majestic Corporation has announced strong financial performance for the period ending 31 December 2024. The urban miner’s gross revenue soared by 66.7%, surpassing expectations and underscoring the company’s intent as a global leader in e-waste recycling.
The sustainable circular economy solutions provider, which specialises in recycling precious and non-ferrous metals, has delivered another year of revenue growth driven by increased volumes of recycled e-waste.
Majestic specialises in recycling e-waste such as mobile phones, solar panels and chipboards.
Investors will also be pleased to see Majestic successfully establish itself as a key player in the UK’s sustainable circular economy by expanding its client base and enhancing its operational capabilities.
A trading statement released on Monday reveals that revenue from continuing operations climbed to USD$49 million, compared to USD$29.4 million in the previous financial year, representing a substantial 66.7% increase.
This impressive growth reflects the expansion of the company’s e-waste recycling operations. The volume of materials containing recyclable precious and non-ferrous metals increased significantly, rising by 43.3% to reach 43,000 tonnes, up from 30,000 tonnes in the previous year.
Operationally, Majestic’s continued expansion has necessitated the search for larger facilities within the UK, a process which is currently underway. The company announced the conditional acquisition of Wales-based Telecycle last year, which is currently undergoing due diligence and awaits final approval.
Looking ahead to 2025, Majestic reports that its strong performance has continued into the new financial year, with growth observed across all recycled material volumes within its core business.
Despite metal prices and transportation costs remaining key variables affecting revenue and profitability, Majestic believes that its robust relationships with customers and smelters position it favourably for continued positive growth.
“We are very pleased with the growth of Majestic over the past year. The hard work or our team has driven significant growth in our topline performance which in turn we anticipate to positively impact our bottom line,” said Peter Lai, CEO and Founder of Majestic Corporation.
“The growth of the Company has enabled access to wider markets and a greater array of participants in the recycling and circular economy further strengthening Majestic’s position as a key player in the industry”