Cleanaway Waste Management Limited reported underlying earnings growth in FY26, alongside improvements in safety performance and the implementation of a refreshed Blueprint 2030 strategy. The company’s underlying EBIT increased by 14.2% to $470.2 million, while the Total Recordable Injury Frequency Rate improved by 21.3% to 3.7.
Material actions and disclosures
Cleanaway has made significant progress in safety management, with an independent review confirming the credibility and contemporary nature of its HSE strategy. The review identified opportunities to improve consistency in execution and strengthen feedback mechanisms closer to frontline operations. Implementation of these recommendations is underway through a Board-approved action plan with clear accountability and oversight.
Financial performance was supported by Solid Waste Services and Contract Resources, while Health Services and Industrial Services underperformed expectations. The company also made progress in strengthening cash generation and capital discipline, with free cash flow increasing materially in FY26.
Remuneration outcomes for FY26 reflected the company’s performance, with the safety gateway not being met due to fatalities, resulting in the safety component of the scorecard being forfeited. The FY26 Short-Term Incentive outcome for the CEO and Executive KMP was 17.5% of target, equivalent to 10% of the maximum opportunity.
Forward commitments
Cleanaway aims to deliver organic growth in its core Solid Waste Services business, supported by pricing, volumes, and productivity. The company expects recovery across Health Services, Oils & Technical Services, and Industrial Services, and incremental benefits from indirect cost actions already underway. Blueprint 2030 2.0 remains central to the company’s strategic direction, focusing on disciplined execution, improved returns, and stronger free cash flow.
Cleanaway continues to engage extensively with shareholders and proxy advisers to address concerns and improve alignment with shareholder experience. The company remains committed to transparent and demanding remuneration outcomes that reflect sustainable performance and long-term shareholder value.
These developments were outlined in the company’s 2026 Annual General Meeting addresses by the Chair and CEO.