WasteCo Group (WCO) H2 2025 earnings summary

Executive summary

• Revenue grew from $48.2M to $56.4M year-over-year, driven by organic growth and the Civic Waste acquisition.

• Operating EBITDA increased by $1.27M, but the group reported a comprehensive loss of $9.85M, impacted by one-off restructuring and acquisition costs.

• Strategic expansion into the North Island and a $15M investment from Empire Waste Technology supported growth.

• Health and safety initiatives intensified following a fatal workplace accident, with a company-wide review and new safety programs.

• Secured a major $40M, nine-year contract with Ashburton District Council, expanding municipal services.

Financial highlights

• Revenue: $56.4M (up from $48.2M year-over-year).

• Operating EBITDA: $4.64M (up from $3.37M year-over-year).

• Comprehensive loss: $9.85M (2024: $4.14M loss), mainly due to $1.76M restructuring, $605K acquisition costs, and $5.1M finance costs.

• Cash at year-end: $5.85M (2024: $1.75M).

• Net assets: $15.3M (2024: $16.4M).

Outlook and guidance

• Entering FY2026 with a leaner operating model and focus on translating recent investments into consistent financial performance.

• Positioned for growth as macroeconomic conditions improve, with further acquisitions under consideration.