Derichebourg SA — Cyborg Score 6/10

Solid
Environmental Services & Waste Management

Strategic Profile

The company operates a capital-light, diversified service model with strong geographic footprint across Europe and growing presence in Americas and Asia-Pacific regions. By combining commodity-exposed recycling operations with more resilient contracted services business, Derichebourg balances cyclical exposure with recurring revenue streams. Strategic positioning in high-growth environmental and sustainability sectors positions it favorably for long-term ESG-driven market trends.

Cyborg Score Rationale

Derichebourg demonstrates solid fundamentals with established market presence, diversified business model, and strategic positioning in growing environmental services sectors. However, recent revenue decline (-7.5% FY2025) and cyclical metal recycling exposure moderate the outlook. Strong governance ratings and battery recycling JV signal strategic adaptation to energy transition themes.

Top Insights

  • Dual-division model provides stability: Recycling (~94% of revenue) with Multiservices (growing facilities management segment) creates resilience against commodity cycles
  • Battery recycling JV with LG Energy Solution (April 2025) signals strategic pivot toward EV and lithium-ion supply chains—critical for long-term growth
  • Geographic concentration risk: 69% of sales from France with only 24% from rest of Europe and 6.5% from Americas; geographic diversification needed
  • FY2025 financials show mixed signals—revenue declined 7.5% but earnings surged 63%, suggesting margin expansion and operational efficiency improvements despite top-line pressure

Named Competitors

  • Waste Management & Environmental Services — Global environmental services and waste management
  • Waste & Environmental Services — Environmental and water management solutions
  • French Waste Management — Waste processing and environmental solutions

Recent Developments

  • (April 2025) Joint venture established with LG Energy Solution for battery recycling operations
  • (FY 2025) Revenue declined 7.5% to €3.34B but net earnings increased 63% to €122M, reflecting operational improvements
  • (October 2025) ISS Governance QualityScore: 8/10, indicating solid corporate governance standards

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