Cleanaway Waste Management Limited (ASX:CWY) Announces 1H FY25 Financial Results
Financial Performance
Cleanaway Waste Management Limited (ASX:CWY) reported its FY25 half-year financial results, with gross revenue rising 3.7% to $1,940.2 million and net revenue increasing 4.6% to $1,659.4 million. Statutory EBIT grew by 7.5% to $174.1 million, while underlying EBIT saw a 12.2% rise to $195.2 million, achieving an EBIT margin of 11.8%. Underlying NPAT and EPS both increased by more than 13%, reflecting disciplined price and cost management.
Dividend
The company declared a fully franked interim dividend of 2.80 cents per share, up 14.3%, representing a payout ratio of 67.1% of underlying NPAT. The dividend will be paid on 10 April 2025 to shareholders on the register on 6 March 2025.
Future Outlook
Cleanaway remains on track to deliver its FY25 EBIT guidance of $395 to $425 million and is confident in achieving its FY26 ambition of over $450 million in EBIT. This outlook is supported by continued operational excellence and strategic growth initiatives, including the rollout of their Branch Optimisation program and the commencement of new projects in decommissioning and remediation services.
Executive Comments
CEO Mark Schubert stated, “Delivering double-digit earnings growth and improved returns is further evidence of our strong track record of delivering shareholder value. Disciplined execution of our Blueprint 2030 strategy is realising operational benefits at the branch level—where our earnings are made—and from across our national network, positioning Cleanaway for sustained long-term value creation.”
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