Denmark-based wood pellet producer and trader CM Biomass on June 25 released results for the company’s 2023-’24 fiscal year, reporting record earnings despite significant challenges experienced by the biomass industry.According to CM Biomass, the biomass industry faced significant challenges during 2023-’24, including a mild and late winter season, which reduced demand for wood pellets and caused prices to drop. Despite those challenges, CM Biomass reported earnings before taxes (EBT) of EUR 41 million, the best results achieved in the company’s 15 years of operations.&nbsp;According to CM Biomass, the company trades approximately 3.6 million metric tons of biomass annually. It also owns, directly or through joint ventures, 11 production facilities in the U.S. and Denmark.&nbsp;“We’re incredibly proud to deliver year on year positive results, this year being no different, and even record-breaking,” said Morten Buchgreitz, CEO of CM Biomass. “Much of this success can be credited to our organization and the many dedicated people, who run production, trading, and back-office functions. It would not be possible without their dedication.”“Our business model as a flexibility provider has especially in a year with lower demand allowed us to accommodate our clients, storing or buying back any excess products,” he added. “This grows trust and builds strong partnerships with clients, that leads to better business.”&nbsp;

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Denmark-based wood pellet producer and trader CM Biomass on June 25 released results for the company’s 2023-’24 fiscal year, reporting record earnings despite significant challenges experienced by the biomass industry.

CM Biomass reports record earnings despite industry challenges

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