Augean was formed in September 2004 and listed on the Alternative Investment Market (AIM). The Group strategy is to build and grow a specialist company competent to deliver extremely high standards of service to our clients underpinned by modern technology led infrastructure and to become the market leader in delivering solutions to difficult to handle waste streams from industrial society.

The Group strategy is underpinned by European Directives
transposed into UK regulations:
Landfill Directive
Hazardous Waste Directive
Integrated Pollution Prevention & Control Directive
Waste Framework Directive

The Directives focus on recognising waste as a resource, that
the UK infrastructure for handling waste needs to be modernised
and that difficult and hazardous wastes need specialist facilities and
technologies to manage them more responsibly.

The board delivers shareholder value by focusing on the management
of specialist wastes, usually of a hazardous nature and often in niche
markets, using proven technology, trained and highly skilled staff
utilising internationally recognised management systems.


http://www.augeanplc.com/

Interim results
Financial highlights
From continuing operations and excluding exceptional items
· Adjusted revenue before landfill tax increased by 6% to £32.9m (2017: £30.9m1)
· Adjusted profit before taxation2 increased 36% to £4.5m (2017: £3.3m)
· Adjusted EBITDA3 increased by 43% to £8.0m (2017: £5.8m)
· Net cash flows4 increased to an inflow of £8.1m from £0.8m outflow in H1 2017
· Net debt improved to £2.7m (at 31 December 2017: £10.8m). Net debt as at 13 September is £0.4m. The rate of cash generation will slow in H2 as the capital spend to maintain landfill capacity will increase
· Basic adjusted earnings per share5 increased by 21% to 3.18 pence (2017: 2.62p)

Operational highlights
· Good progress on business optimisation programme including cost savings, coherent incentivisation of sales, operations and staff to enhance shareholder value
· Double digit growth from residues from Energy from Waste (EfW) plants despite customers having a disproportionate amount of "downtime"
· Strong growth in framework radioactive waste with revenues up around one third
· Recovery in the market position for soils with the appointment of a reinstated focused team toward the end of H1 - however volumes down by around a third in H1
· Further investment in soil wash plant to extend soil market opportunity
· Increased overall profit at all treatment sites except East Kent
· Continued further diversification in North Sea into industrial services and waste management with reduced drilling volumes has resulted in profit more than doubling
· Strong pipeline of new EfW residue contracts which are expected to enter operation in 2019

+6.93% today.

Trading update
RNS
RNS Number : 9663H
Augean Plc
21 November 2018


21 November 2018

Augean plc
("Augean" or "the Group")
Trading update


Augean, one of the UK's leading specialist waste management businesses provides the following trading update. Due to stronger Group trading performance through the second half, the Group's adjusted profit before tax* for the year is expected to be materially ahead of market expectations. Results from continuing business have benefitted from higher contaminated soil volume, increased radioactive waste profit and strong performance of both the treatment and North Sea businesses.
The Group can confirm that, as expected, it has now moved to a cash positive position with all bank debt repaid.
The Group has exchanged contracts to sell the freehold of a property in Hull for £1.3m, with no profit or loss on sale, with completion of the transaction expected on December 20th.

The Group is performing a strategic review of the operation of the East Kent High Temperature Incinerator facility.

There has been no further update on the assessment notifications from HMRC recently made by the Group.


* adjusted profit before tax is measured as profit from continuing operations before amortisation of intangibles, income and share based payments, exceptional items and taxation

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New highs