Final Results 2012/13

Final Results 2012/13

An Interview with Peter Dilnot

In this interview Peter Dilnot, Group Chief Executive, discusses Shanks' year-end 2013 results.

Results highlights

  • Resilient performance against the backdrop of very challenging Solid Waste markets.
  • Revenue, underlying profit before tax and underlying EPS down at constant currency.
  • Total cost savings of £17m delivered, with £11m operational savings plus £6m savings through structural cost programme, including headcount reduction of 310 full time employees.
  • Robust balance sheet, with lower than expected core net debt at £177.3m and EBITDA ratio of 2.0x.
  • Final dividend maintained at 2.35p per share, reflecting confidence in medium term growth.
  • Non-trading and exceptional charges of £61.8m in line with guidance previously reported and principally reflecting restructuring and impairment in Solid Waste.

Business overview

  • Business reorganised into market-facing segments: Solid Waste, Hazardous Waste, Organics and UK Municipal.
  • Good profit performances in Organics (up 7%*), UK Municipal (up 80%) and Hazardous Waste unchanged maintaining record prior year performance.
  • Solid Waste (down 50%*) affected by impact of recessionary markets and record construction lows.
  • Structural cost programmes on track to reduce costs by £20m per annum by 2015/16.
  • Investment programme continues to deliver expected returns, is well funded and has a promising pipeline.

At constant currency

Previous results

Interim Results 2012/13

Important information:

On 28 February Shanks Group plc merged with Van Gansewinkel Groep BV to form Renewi plc. Information on this website is no longer being updated and is for historical reference only. Please visit www.renewi.com for latest information, or continue to the historic Shanks Group plc website.