IT recycling company Vyta reports group revenues of €8m

Demand for its services increased in the last financial year, as organisations carried out large IT refreshes

Trade

Giles Ward, Faye Thomas, and Philip McMichael, Vyta

IT recycling company Vyta has grown group revenues to €8 million for its financial year ending 31 May 2021. This marks an 11% increase on the previous financial year’s €7.2 million and reflects the growth in demand for its services across Ireland and the UK. A solid start to the current financial year sees Vyta on track to increase its annual revenues to €10.5 million by May 2022.     

Vyta saw increased demand for its services in the last financial year, as organisations carried out large IT refreshes to enable greater workforce mobility. Businesses disposed of newly redundant equipment, while updating IT systems that would support remote working.

Brexit has also contributed to Vyta’s growth, as some UK competitors have struggled to compliantly deliver services to businesses that had offices in the Republic of Ireland. As a result, Vyta became a trusted partner for multiple IT disposal operators with a customer presence in both markets.

Further contributing to Vyta’s growth was the implementation of new asset tracking software that streamlined the collection process and led to an increase in referrals. By enabling Vyta to complete more jobs and faster, the new software allowing Vyta to carry out 12 months’ work in nine months.

Faye Thomas, chief commercial officer, Vyta, said: “2021 turned out to be a very strong year for us, despite the restrictions imposed by the global pandemic. Sustainability, security concerns, and data regulations have not gone away: they continue to be in the forefront of business leaders’ minds and are vital to our business.

“We want to educate our customers about the benefits of recycling and using refurbished devices that not only reduce their carbon footprint, but also comply with stringent and ever-changing data regulations. Our business objective is to help customers get the most value from their old devices and minimise the risk of harmful data leaks by using the most technologically advanced equipment and processes. We continue to be the most certified IT asset disposal and data destruction company in Ireland.”

Vyta holds 12 international ISO and quality standards. It is the only Irish company accredited to the global ADISA IT disposal standard, and one of only four globally to achieve distinction with honours. It is also the only organisation globally to have two sites certified to distinction with honours.

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