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Augean (AUG)

Business description

Augean manages hazardous waste through five divisions: Radioactive Waste Services (3% of group revenues), Energy & Construction (33%), Industry & Infrastructure (30%), Augean Integrated Services (13%) and Augean North Sea Services (21%).

Investment summary

Revenue was +11% in FY17 and op. profit fell to £6.4m (FY16 £7.8m), the result of increased costs, issues with a legacy contract at Colt and lower volumes in the soil market. Year-end net debt was £10.8m but the recent disposal of AIS and Colt (for c. £1m) and the absence of dividend payments will have a beneficial impact on cash flow in FY18. Augean also recently announced that it had been advised by HMRC (in relation to its dispute regarding landfill taxes) that it intends to issue assessments of £37.6m for the period August 2013-August 2017 and is considering reducing the amount of the previous five assessments issued, from £12m to £7.5m. Augean does not expect a rapid conclusion to the dispute with HMRC.

Last updated on 27/07/2018

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2016A 76.0 14.3 7.2 6.47 6.6 3.4
2017A 84.7 12.9 6.0 5.59 7.6 4.2
2018E 79.5 14.0 8.1 6.27 6.8 2.9
2019E 79.2 15.0 8.8 7.07 6.0 3.0

Last updated on 19/07/2018

Latest video

Executive Interview - Augean

Industry outlook

A growing trend towards treatment, recovery and recycling in the waste hierarchy supports Augean's specialist industry knowledge model.

Last updated on 27/07/2018

Key management

Jim Meredith, Chairman
Mark Fryer, FD

Company address

Unit 4,
Rudgate Court,
Walton,
Wetherby,
LS23 7BF
United Kingdom
+44 (0) 1937 844 980
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