Cleanaway Waste Management Ltd. · ASX:CWY
Cleanaway Waste Management — Merger or Acquisition (March 2025)
19 slides from Cleanaway Waste Management's merger presentation, Mar 20, 2025
Slide 1: Strategic and complementary acquisition of Contract Resources
Strategic and complementary acquisition of Contract Resources 20 March 2025
Slide 2: Acknowledgement of country
Acknowledgement of country Cleanaway acknowledges the Traditional Owners of the lands on which we operate and in the communities in which we exist. We pay our respect to all Aboriginal and Torres Strait Islander peoples. Artwork by Marcus Lee, a proud Aboriginal descendant of the Karajarri people fr
Slide 3: Disclaimer
Disclaimer This presentation contains summary information about the current activities of Cleanaway Waste Management Limited (“CWY”) and its subsidiaries that should be read in conjunction with CWY's Consolidated Financial Report for the six-months ended 31 December 2024 as well as CWY’s other perio
Slide 4: Transaction highlights
Transaction highlights Disciplined acquisition of a strategically aligned, complementary business that is a market leader in production-critical, technical services for the oil & gas industry for 5.9x EV / FY25F EBITDA post synergies Adds a stable and recurring earnings stream with an attractive g
Slide 5: Disciplined acquisition of a high-quality business and growth platform
Disciplined acquisition of a high-quality business and growth platform Repositions and expands Cleanaway’s industrial services offering to include production-critical, higher-margin, technical services Transaction overview Contract Resources overview Strategic rationale • Agreed to acquire 100% of C
Slide 6: Contract Resources business overview and strategic rationale
Contract Resources business overview and strategic rationale Pictured: Catalyst unloading on top of a vessel on an industrial site CLEANAWAY Strategic Acquisition of Contract Resources 6
Slide 7: Leader in production-critical, higher-margin, technical services
Leader in production-critical, higher-margin, technical services Stable, recurring, growing earnings stream; track record of profitable growth built on best-in-class service delivery A recognised market Reputation for safely Strong structural tailwinds leader in critical path delivering complex of e
Slide 8: Specialist in catalyst handling, decontamination & chemical cleaning
Specialist in catalyst handling, decontamination & chemical cleaning Contract Resources’ services revolve around onshore and offshore turnkey, critical path services, in turn creating a platform to offer additional, integrated industrial services Production-critical services required for the operati
Slide 9: Long-term customer relationships built on delivery track record
Long-term customer relationships built on delivery track record Highly-valued by customers for their expertise in safety, execution and innovation which delivers improved safety and efficiency outcomes Commitment to Zero Harm Safety (TRIFR1) Leader in innovation enables unique, safe, outstanding ser
Slide 10: Track record of delivery has underpinned growth
Track record of delivery has underpinned growth Ability to leverage core services and customer relationships has created a platform from which they have been able to provide additional services and expanded successfully into the Middle East Proven track record in growing its share of customer spend
Slide 11: Accelerates DD&R growth strategy; expands the addressable market
Accelerates DD&R growth strategy; expands the addressable market The combination of Cleanaway and Contract Resources creates an attractive platform to pursue this new growth vector Decommissioning, decontamination Industrial services offering and remediation value chain Strengthened spear-tip into D
Slide 12: Financial impacts and FY25 outlook
Financial impacts and FY25 outlook Pictured: Contract Resources employee at Lytton Refinery CLEANAWAY Strategic Acquisition of Contract Resources 12
Slide 13: Delivering growth, earnings and returns with balance sheet strength maintained
Delivering growth, earnings and returns with balance sheet strength maintained • Stable and recurring revenue stream underpinned by long-term customer relationships and provision of best-in-class critical path services, with attractive margins and low capital intensity • Attractive growth outlook as
Slide 14: Summary
Summary Disciplined acquisition of a strategically aligned, complementary business that is a market leader in production-critical, technical services for the oil & gas industry for 5.9x EV / FY25F EBITDA post synergies Adds a stable and recurring earnings stream with an attractive growth outlook,
Slide 15: Appendices
APPENDICES CLEANAWAY Strategic Acquisition of Contract Resources 15
Slide 16: Glossary
Glossary Catalyst A substance that increases a chemical reaction rate without itself being consumed during the reaction. Catalyst handling Removal of old and loading of fresh catalyst from reactors. Cold cutting Procedure for cutting material without using heat or flames and without sparks. Critical
Slide 17: Example of Contract Resources 'in situ'
Example of Contract Resources ‘in situ’ Provision of specialised services across the whole site Tank and environmental services Catalyst handling • Tank cleaning, maintenance and repairs • Blind-to-blind catalyst change-out services • Vacuum trucks rated for hydrocarbon • Catalyst loading and unload
Slide 18: Contract Resources' historical financials
Contract Resources’ historical financials CAGR ($m) FY22 FY23 FY24 FY25F (FY22 – FY25F) Revenue 222 237 276 325 13.5% EBIT1 20 22 30 35 21.0% EBIT margin (%) 1 9.0% 9.5% 10.8% 10.9% - 1. EBIT including diligence adjustments CLEANAWAY Strategic Acquisition of Contract Resources 18
Slide 19: Contacts
CONTACTS Investor contacts: Josie Ashton Bruce Song Head of Investor Relations & Senior Manager, Investor Relations Sustainability & Sustainability + 61 416 205 234 + 61 426 386 006 josie.ashton@cleanaway.com.au bruce.song@cleanaway.com.au Registered office: P +61 03 8397 5100 Level 4, 441 St Kilda
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