Augean Plc Contract Renewals & New Contract Wins (9451P)

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RNS Number : 9451P

Augean Plc

14 February 2019

Augean plc

("Augean" or "the Group")

Contract Renewals and New Contract Wins

Augean, one of the UK's leading specialist waste management businesses, is pleased to announce that it has renewed contracts, with terms of up to four years, with certain of its strategically important customers in Energy from Waste ("EfW") and North Sea oil and industrial services. These generated over one third of the Group profit in the year ended December 2018.

In addition to contract renewals with existing customers, the Group has recently been awarded new contracts, with terms of up to three years, for ash from several EfW plants across the UK. The annual volume of ash from these new EfW plants is around half of the Group's existing annual ash volumes. The additional volume from these contracts is expected to impact incrementally from late 2019 through 2020 as these EfW plants are commissioned, with the greater impact expected through 2020 onwards. These wins underpin current market expectations for 2019 and growth during 2020 and beyond.

Finally, the Group is also pleased to announce the signing of a three-year framework agreement with Land & Water Ltd, the market leading specialist for dredging of inland waterways, to preferentially treat and landfill (hazardous) materials arising from their dredging activities, which again underpins current market expectations.

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Enquiries:

 
 Augean plc 
  Jim Meredith, Executive Chairman 
  Mark Fryer, Group Finance Director    01937 844 980 
 N+1 Singer 
  Shaun Dobson 
  Jen Boorer 
  Rachel Hayes                          020 7496 3000 
 

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February 14, 2019 02:01 ET (07:01 GMT)