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Cleanaway Waste Management Ltd CWY

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Swift Economic Rebound Delivers a Rosy Fiscal 2022 Outlook for Cleanaway’s New CEO; FVE Increased 3%

Grant Slade, CFA Senior Equity Analyst

Analyst Note

| Grant Slade, CFA |

With the Australian economy staging a robust recovery from the coronavirus shock, Cleanaway’s newly announced CEO, Mark Schubert, is set to take the reins at an opportune time. We’d previously anticipated a sombre recovery in Cleanaway’s waste volumes would take hold in fiscal 2022, following a fiscal 2021 where waste generation has been hampered by the pandemic. However, with the Australian economy’s performance in recent quarters outpacing our prior expectations, a marked recovery in waste generation is likely underway economy-wide.

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Company Profile

Business Description

Cleanaway Waste Management is Australia’s largest waste management business with a national footprint spanning collection, midstream waste processing, treatment and valorisation, and downstream waste disposal. Cleanaway is active in municipal and commercial and industrial, or C&I, waste stream segments and in nonhazardous and hazardous liquid waste and medical waste streams following the acquisition of Toxfree in fiscal 2018. While Cleanaway is allocating greater capital to midstream waste processing and treatment, earnings remain skewed toward waste collection. Cleanaway is particularly strong in C&I and municipal waste collection with strong market share in all large Australian metro waste collection markets.

Contact
441 St Kilda Road, Level 4
Melbourne, VIC, 3004, Australia
T +61 383975100
Sector Industrials
Industry Waste Management
Most Recent Earnings
Fiscal Year End Jun 30, 2021
Stock Type
Employees 5,900

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