AVR Annual Report 2025
• Financial recovery following the 2023 fire continues
• Operational capacity in Rozenburg largely restored
• Commissioning of new turbine installation in 2026 to structurally improve energy efficiency and security of supply
For AVR, 2025 was marked by recovery, stabilisation and preparing for the future. Following the fire in 2023, an extensive and complex recovery programme was carried out under Project Phoenix. The financial results for 2025 clearly reflect the recovery of operations. Revenue increased significantly compared to 2024, driven by the restart of incineration lines and higher waste processing volumes. In addition, all insurance proceeds related to the 2023 fire were received and fully settled in 2025, removing financial uncertainty surrounding the recovery.
During 2025, a large part of the operational capacity in Rozenburg became available again, allowing core activities to be gradually resumed. Project Phoenix will be completed in 2026 with the commissioning of a new turbine installation, which will result in structurally higher energy efficiency and improved security of supply.
2025 in figures
Operating result amounted to €124.5 million. Compared to 2024, this is lower, due to the exceptionally high insurance-related result recognised in that year. In 2025, both the cost structure and operational performance further normalised. The decrease in costs for third-party waste processing reflects the increased availability of AVR’s own installations. Net result after tax amounted to €68.9 million.
Operating cash flow was very strong at €225.2 million, mainly driven by the receipt of insurance proceeds, combined with improvements in working capital due to a reduction in outstanding receivables. After investments and financing activities, this resulted in a net increase in cash and cash equivalents of €16.2 million.
Focus on structural emission reduction
The resumption of operations has led to higher production levels and emissions, while at the same time forming the basis for structural improvements in sustainability, safety and reliability. CO2 emissions increased in 2025 compared to 2024. This increase is a direct result of the restart of incineration activities and therefore reflects operational recovery.
Total energy output remains below pre-fire levels but is expected to increase substantially once the new turbine installations are fully operational in 2026.
Renewed and visual annual overview
The annual report Progress in motion has been published in a renewed, visual format and presents a clear overview of the key developments of the past year through six short videos. The full report can be found here, including videos covering our daily operations, working environment, safety, good employment practices and innovation. Together, they demonstrate how AVR has continued to develop and prepare for the future in 2025.