Annual Report
Toxfree Solutions Ltd
ABN 27 058 596 124
CONTENTS
FY17 HIGHLIGHTS 02
BOARD AND MANAGEMENT 04
CHAIRMAN AND MANAGING DIRECTOR'S LETTER 24
REVIEW OF OPERATIONS 26
SUSTAINABILITY REPORT 40
DIRECTORS' REPORT 49
CORPORATE GOVERNANCE STATEMENT 88
AUDITOR'S INDEPENDENCE DECLARATION 89
FINANCIAL REPORT
CONSOLIDATED STATEMENT OF PROFIT OR LOSS 90
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 91
CONSOLIDATED BALANCE SHEET 92
CONSOLIDATED STATEMENT OF CASH FLOWS 94
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 95
CONTENTS OF THE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 97
DIRECTORS' DECLARATION 185
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS 186
SHAREHOLDER INFORMATION 190
CORPORATE DIRECTORY 193
FY17Highlights
Toxfree partners with customers to deliver tailored,
Underlying Non IFRS Results 2017
Revenue EBITDA* NPATA* Dividend Cash Conversion**
innovative and efficient waste management solutions
and produced strong underlying earnings growth
$496.1m $82.8m $28.6m 9.5cps
26% 14% 14% 6%
91%
Statutory IFRS Results 2017
Revenue EBITDA NPATA Dividend Cash Conversion
$496.1m $68.7m $16.8m 9.5cps
26% 15% 12% 6%
110%
Acquired Daniel's Health - Australia's largest provider of healthcare waste
treatment services
Maintained successful track record of contract wins - awarded contracts
totalling over $100m of revenue in FY17
Australia Business Awards winner for Human Resource Management 2016 - "Closing the Gap" initiative re-defined approach to indigenous engagement
Diversification strategies successfully reduced earnings concentration risk
Focused on improving return on invested capital - undertook effective asset swap with JJ Richards1
Demonstrated leadership in environmental sustainability - developed Toxfree Fuel solution, transforming waste into fuel
1. Asset swap at equivalent earnings (EBITDA) and asset value
02** Gross operating cast flow to EBITDA
*Non-IFRS Financial Information - Normalised for non-operational adjustments - see Table 2 on page 30
Experienced Board of Directors and Executive teamDedicated directors with over 150 years of combined corporate experience
ROBERT McKINNON
Non-Executive Chairman
STEVE GOSTLOW
Managing Director
MICHAEL HUMPHRIS
Non-Executive Director
2017 Annual Report
Extensive operating network with nationwide coverage
Strong executive team with significant industry, financial and technical expertise
RICHARD ALLEN
Non-Executive Director
KATHY HIRSCHFELD
Non-Executive Director
DAVID McARTHUR
Company Secretary
1,564Employees
81Operating locations
895Vehicles
Strong reputation for innovation and technical excellence
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248
2
14 21
293
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18
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134
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180
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MICHAEL CONSTABLE
Chief Financial Officer
SARAH BAGSHAWE
04Executive General Manager Human Resources
PETER GOODWIN
Chief Operating Officer
JOSH BOVELL
Chief Information Officer
JASON DIXON
Executive General Manager Corporate & Risk
Toxfree's deep technical expertise across a broad range of hazardous and specialty waste streams reflects a capability and passion for developing effective, safe technology solutions with a positive environmental impact.
Toxfree will continue to commit significant resources to technical improvement and innovation, to meet
evolving customer needs and provide best-practice waste management solutions.
Tox Free Solutions Limited published this content on 30 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 August 2017 09:07:03 UTC.
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