Posted by Claire Jennings on 2nd Feb 2023
Kollect records highest ever monthly revenues
Kollect - the ever-growing online waste platform - has increased their total revenue by 61% year-on-year and their recurring revenue by 106% according to a trading update released on April 13 last. Despite the ongoing Covid-19 pandemic, Kollect who “make is easy for domestic and commercial customers to book waste services online” more than doubled their recurring revenues from March 2020.
Kollect offer a number of services to suit the needs of their customers - all of which increased revenue in the last 12 months. Revenues from Domestic Bins were up 33% from March 2020 and Commercial Bin revenues were 6% higher than March 2020.
The Commercial Skip business continued to perform well with revenues up 19% compared to February 2021 despite many construction sites remaining closed under Covid-19 restrictions. Commercial Junk increased by 131% compared to the same period, despite the same restrictions, though is a smaller portion of overall revenues, however, than Commercial Skips.
BIGbin revenues in March 2021 were up 71% from March 2020 following the successful acquisition that the Company made in November 2020.
Head of Commercial at Kollect Morgan Lalor says one of the keys to success was a “hard-working, flexible team”.
“Its been a crazy rollercoaster getting to this point because a company growing really fast is changing just as fast,” Morgan said. “For me and my team, we embrace this change as we knew that every bit of new technology we implemented was contributing to our company mission of creating simple ways to have all waste collected and recycled.”
Commenting on the new Kollect Commercial App, Morgan said that it has “massive potential”.
“The app will be easy to use and allow our customers to book our waste solutions at a time that works best for them,” Morgan said. “It will service a nationwide audience with a one stop shop waste solution offering a range of services such as skip hire, skip bag hire, junk removal, grab hire and bulk soil removal (muck away). We will also provide our customers with other innovative features from reporting to statistics that they can use to make their lives easier and make their business more productive. 2021 is going to be an exciting year for Kollect, in particular and I am thrilled about what the new app will offer our customers as we add new features.”
Chief Financial Officer at Kollect, Jamie Walsh says that he is “excited for the future”.
“To record our highest ever monthly revenues, breaking through the SEK 5M barrier for the first time is a significant milestone for the Company and one we are very proud of,” Jamie said. “The credit must go to the whole team for their dedication and hard work. Going forward, with our industry leading customer service team and our brilliant sales and marketing teams, all underpinned by our ever-developing technology, we are excited for the future.”