CFO Transition Positive, FY26 EBIT in-line

研报英文原文证据摘录

CFO Transition Positive, FY26 EBIT in-line

Australia | Environmental Services

Cleanaway EquityJulyResearch22, 2026

TARGET | ESTIMATE CHANGECFO Transition Positive, FY26 EBIT in-line

On 22 July 2026, Cleanaway has announced the retirement of CFO, Paul RATING BUY

Binsted, after 5 years with the business. Following a search process, Nigel PRICE AUD2.29^

Simonsz has been appointed as the incoming CFO, and will commence in PRICE TARGET | % TO PT AUD3.05 (AUD3.21) |

the role on 27 July 2026. Management also have reaffirmed that underlying +33%

52W HIGH-LOW AUD2.96 - AUD2.14

FY26 EBIT is approximately $470mn, inline with us ($470.7mn) and slightly

FLOAT (%) | ADV MM (USD) 78.8% | 19.88

ahead of market expectations (VA consensus $467.5mn).

MARKET CAP AUD5.1B | $3.6B

Appointment of new CFO: Nigel Simonsz, who is the incoming new CFO is highly credentialed, TICKER CWY AU

^Prior trading day's closing price unless otherwise

with prior roles including CFO / CEO of United Petroleum, CFO of Sigma Healthcare and CFO of noted.

Australian Agricultural Company. In addition to Nigel's focus on tighter capital allocation and

cash flow generation, we view his commercial and operational experience as supportive of the

successful execution of BluePrint 2030 2.0. FY (Jun) CHANGE TO JEFe JEF vs CONS

2026 2027 2026 2027

FY26 EBIT: The delivery of EBIT of ~$470mn is modestly ahead of the consensus estimate REV NA NA +10% +10%

of $467.5mn, but importantly, it also demonstrates management's strong execution, having EPS NA -9% -1% -2%

achieved the FY26 EBIT of >$450mn set in 2022 (adjusting for acquisitions and fuel impact

in 2H26). This is achieved against a challenging macroeconomic backdrop and operational 2026 (AUD) 1Half 2Half FY

disruptions from fires and floods. EPS -- -- 0.10