A surge in orders, a return to profit in the Environment business and a delayed plant in Abu Dhabi: Kanadevia’s half-year figures show how much the Japanese group now depends on Waste-to-Energy.
Kanadevia is the Osaka-based owner of Swiss WtE specialist Inova. The company lifted its order intake by 36 per cent to 416.7 billion yen in the six months to September 2026. Net sales rose 12 per cent to 298.5 billion yen. The operating loss typical of the group’s first half narrowed from 7.8 billion yen to 3.5 billion yen. Net income reached 5.0 billion yen, helped by gains on the sale of two non-core businesses.
Orders Running to 2052
Behind the headline figure are two design-build-operate contracts for Waste-to-Energy plants in Japan. Their operating terms stretch into the 2050s. There is also a retrofit of the Geneva plant for Inova. As a result, the order backlog has grown to 2,460.4 billion yen. More than 60 per cent of it is long-term operation and maintenance business.
The picture is not uniformly bright. Kanadevia has cut its full-year operating profit forecast from 25.5 billion yen to 23.0 billion yen. The company points to order delays and additional project costs at Inova. Moreover, the WtE plant under construction in Abu Dhabi is running around three months late. The company’s share of Japan’s own WtE market tells a story of its own.
Which projects are driving the backlog, why Inova’s profit barely moved despite a 29 per cent rise in sales, and what Kanadevia expects from the Japanese and EMEA markets: the WtE Monitor+ analysis has the details.
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