Cleanaway Waste Management (CWY) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional custodians and safety instructions for attendees.

• Introduction of board members, executive team, auditor, and explanation of hybrid meeting format.

• Agenda included Chairman's address, CEO and Managing Director's addresses, formal business, and Q&A.

• Voting procedures and question submission guidelines outlined for both in-person and online participants.

Financial performance review

• FY24 net revenue was AUD 3.195 billion, up 7.7% from FY23.

• Underlying NPAT increased 14.8% to AUD 170.6 million; EBIT rose 18.9% to AUD 359.2 million.

• EBIT margin improved to 11.2%, and ROIC increased to 5.5%.

• EPS rose 15.2% to 7.6 cps; net operating cashflow grew 12.5% to AUD 542.1 million.

• Net debt to EBITDA ratio at 1.89x, with strong liquidity and no refinancing due until August 2025.

Board and executive committee updates

• Robert Cole appointed as non-executive director in March 2024, standing for election.

• Ingrid Player offered for re-election, highlighting her governance and risk management experience.

• Board renewal acknowledged with thanks to retiring director Terry Sinclair.