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Cleanaway Waste Management Provides Trading Update

03 May 2022  |  08:03:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Trading Update

Cleanaway Waste Management announced its FY 2022 second half (H2) performance is expected to be impacted by higher fuel and labour costs and one-off operational disruptions. Rising fuel prices are expected to result in $10m higher costs for the second half of FY 2022. Constraints on labour availability due to the pandemic continue to place pressure on the business, impacting its ability to service the customer and operate efficiently. The recent East Coast floods resulted in property damage and the loss of vehicles and equipment, which will be subject to insurance recoveries. The New Chum landfill is currently closed temporarily due to the floods to an expected $5 - 7m net EBITDA impact in H2 FY 2022.

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