Sorpa reports lower than expected profits in Reykjavík as People’s Party criticizes board trip to Finland

Sorpa, the waste management company in Reykjavík, has reported profits below expectations for the first half of the year, amounting to 211 million Icelandic króna, which is 22% lower than anticipated. The company’s revenue increased by 11% compared to forecasts, while personnel costs were 6% under estimates. However, operational costs surged by 18% beyond projections, leading to an operational profit (EBITDA) that fell 18% short of expectations.

In light of these results, a representative from the People’s Party criticized the decision of Sorpa’s board to plan a trip to Finland for board members and municipal executives to observe advanced waste incineration techniques. The representative questioned whether the entire board needed to participate in such a trip, arguing that knowledge sharing could effectively occur domestically.

The statement emphasized, “The intention is to travel with a charitable group to explore advanced waste incineration technologies in Finland. While the People’s Party supports any effort to utilize the energy and materials found in waste, it raises the question of whether all Sorpa board members should be part of such an excursion. Knowledge can also be shared among people within the country.”

In total, six municipal representatives from different municipalities serve on Sorpa’s board.