Solid Performance by Bord na Mona as Renewable Energy Plans Advanced

Bord na Mona has reported a slight drop in operating profits from Eur23.8m to Eur23.0m for the year ending March 2010 on turnover down 4% to Eur384.0m. The operating profit margin edged up to 6.0% compared to 5.9% the previous year.

“These figures reflect a very solid performance for Bord na Mona in a challenging business environment. Despite the unprecedented weather impact on our feedstock supply and stock losses due to severe flooding we managed to produce a result in line with our expectations,” comments Gabriel D’Arcy, chief executive of Bord na Mona. “Overall our 2009/10 results support our strategic decision to diversify the business of Bord na Mona away from a reliance on peat.”

Bord na Mona’s vision ‘A New Contract With Nature’ marks the beginning of a transition from traditional businesses, heavily dependent on peat and fossil fuels – to a new, more sustainable business, focused on resource recovery, wind energy, biomass, environmental products, district heating and ecotourism.

Renewable Energy

On the renewable energy front, last year lodged two new planning applications to expand its wind energy portfolio by 120 MW. The group recently received planning permission for a Eur120m 80 MW wind farm at Mount Lucas in Offaly. Progress is also being been made on Bord na Mona’s 300 MW Oweninny wind farm at Bellacorick, County Mayo, which will be the biggest on shore wind farm in Ireland. Bord na Mona advanced its co-fuelling agenda during the year with 7.8% of biomass feedstock replacing peat into its Edenderry Power station. This is part of our ongoing strategy to ensure the plant will be less peat dependent in the future.

Environmental

In 2009 Bord na Mona Environmental won some important new contracts in Hong Kong, Paris, the UK and Italy for its market leading environmental technology. Bord na Mona is now a global leader in removing odour and emissions from waste water and solid waste treatment plants using biological techniques. Indeed, the group has now completed some 600 installations in four continents with patented technologies using peat and seashells.

Resource Recovery and Sustainability

Bord na Mona’s Resource Recovery business grew in 2009/10 as it expanded its domestic customer base and won some major commercial contracts. The group achieved a diversion from landfill of some 54% and to accelerate this figure it is investigating a range of technology options including the feasibility of a Mechanical and Biological Treatment plant at its waste technology site in Drehid, County Kildare.

Over the past year Bord na Mona also made progress on all its key sustainability indicators. The co-fuelling of Edenderry Power with biomass rose from 2.3% to 7.8% while the rate of peat dilution in its horticultural growing media increased from 22.5 to 24%. The amount of waste diverted from landfill increased from 50% to 54%, and turnover from sustainable activities increased by 11% to Eur74.0m.

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