RE-MATCH HOLDING A/S
RE-MATCH HOLDING A/S is a Danish industrial recycling company focused on processing end-of-life artificial turf into reusable raw materials. The group operates through a manufacturing footprint in Denmark and development activities in the Netherlands, with a joint venture presence in France.
Fiscal year 2023 · change from previous year
Development 2020–2023
Business
Share of revenueCollection and processing of end-of-life artificial turf into reusable material streams.
Recovered material outputs sold for use in downstream products and applications.
Development and operation of recycling facilities and related process capabilities.
Customers
The company sells into industrial and downstream material value chains that can use recycled input from artificial turf. Its customer base likely includes processors, manufacturers, and partners involved in circular materials and waste diversion, rather than end consumers. Demand is tied to the ability to turn turf waste into saleable material streams that fit new-product applications.
Buy recovered material streams for use as inputs in new products.
Work with the company to source, process, and divert artificial turf waste.
Use the company's recycled outputs in downstream product formulations.
Support factory development through grants, permits, or project collaboration.
Strategy
The company’s strategic focus is to scale factory-based turf recycling and broaden its production footprint. Reported priorities include rolling out additional factories, securing capital to support expansion, and building capacity through partnerships such as the French joint venture.
More sites increase processing capacity and extend geographic reach for turf recycling.
New projects and facilities require financing to fund build-out and working capital.
Local partners can help enter markets and expand recycling operations efficiently.
Geography
The group is anchored in Denmark, where it operates a factory used for artificial turf recycling. It also has development activity in Tiel, the Netherlands, and a 60% interest in Re-Match France, extending its footprint into continental Europe.
Risks
The business is exposed to execution risk in scaling new recycling factories, including construction, commissioning, and utilization risk. It also faces financing, counterparty, and foreign-currency exposure as it operates across several European jurisdictions and depends on selling recovered materials into downstream markets.
- Expansion and commissioning riskImpact: HighLikelihood: High
New recycling sites must be built, ramped, and stabilized before they generate consistent output.
Exposure: Factory rollout and development sites
- Financing and liquidity riskImpact: HighLikelihood: Medium
The group needs capital to support facility expansion and ongoing operations.
Exposure: New factory rollout and growth funding
- Market acceptance of recycled materialsImpact: HighLikelihood: Medium
The model depends on selling all or most recovered material into usable downstream applications.
Exposure: Recovered material sales
- Foreign currency riskImpact: MediumLikelihood: High
Invoices are issued in local currencies, creating cash flow exposure to exchange rate changes.
Exposure: Cross-border European operations
- Credit riskImpact: MediumLikelihood: Medium
Trade and other receivables depend on counterparties meeting payment obligations.
Exposure: Customer receivables and group receivables
Accounting
Judgemental itemsCompleted and ongoing development costs affect intangible or fixed asset balances and future amortization.
Impact: Can materially change reported assets and earnings timing
Management estimates for finite-lived assets determine depreciation and impairment sensitivity.
Impact: Can shift profit recognition across periods
The 60% interest in Re-Match France is accounted for using the equity method.
Impact: Affects earnings share, carrying value, and disclosure
The bond is measured at fair value through profit or loss.
Impact: Can create P&L volatility from valuation changes
Grants related to the Dutch production site affect project economics and reported funding support.
Impact: Can reduce net project cost or be recognized over time
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Last updated: 24/10/2026