Solid Waste & Recycling

Feature

Hot Sector News (April 01, 2001)

Several companies announced improved results following the major round of acquisitions and divestitures seen over the last two years.Waste Management Inc. of Houston, Texas announced that fourth quart...


Several companies announced improved results following the major round of acquisitions and divestitures seen over the last two years.

Waste Management Inc. of Houston, Texas announced that fourth quarter revenues declined 14.8 per cent to US$2.88-billion due to its international asset sale. The company recorded a profit of $39-million (versus a loss last year) and also decreased its debt by $3.3-billion to $8.5-billion in the fourth quarter. Allied Waste Industries of Scottsdale, Arizona announced a slight increase in fourth quarter revenues to $1.39-billion. However, earnings per share increased 22 per cent (to 22 cents). Waste Recycling Group plc of the United Kingdom announced that revenues increased to 175.2-million pounds versus 139.3-million last year while earnings per share increased 21 per cent to 21 pence. Since its recent acquisition of Hanson Waste Management, it handles 10 million tonnes of waste per year at 57 sites, and generates 64 megawatts of electricity from landfill gas. Vivendi Environnement SA of Paris, France announced that net income was 615-million euros versus a loss of 42.3-million euros last year.

Solid Waste Index

Solid Waste Index Symbol Exchange $Jan98 $Jan01 $Mar01 %Index %Change Shares $OrigValu $CurValu
Allied Waste Industries Inc. AW N.Y 20.38 15.81 14.8 10 -6.39 37 750 544.7
Capital Environmental Res CERI NASDAQ 11.00 3.69 2.75 10 -25.47 68 750 187.5
Casella Waste Systems Inc. CWST NASDAQ 24.75 7.06 9.13 10 29.32 30 750 276.5
Imco Recycling Inc. IMR N.Y 16.75 5.56 4.2 5 -24.46 22 375 94
Marsulex Inc. MLX T.O 6 2.3 2.35 5 2.17 63 375 146.8

Republic Services Inc. RSG N.Y 24 15.75 17.5 10 11.11 31 750 546.8

Safety-Kleen Corp. SK N.Y 15.75 0.45 0.42 10 -6.67 48 750 20

Vivendi Environnement (Euro) VIE Paris 34 42.5 48.98 10 15.25 22 750 1080.4

Waste Connections Inc. WCNX NASDAQ 12 26.38 31.69 10 20.13 63 750 1980.4

Waste Recycling Group plc WRC London 3.25 4.86 4.55 10 -6.38 231 750 1049.3

Waste Management Inc. WMI N.Y 23.75 25.81 25.57 10 -0.93 32 750 807.4

Total 100 $7,500 $6,733.8

(Note: numbers rounded, * denotes weighting change)

Statistics

Starting Point Jan 98 Nov 00 Mar 01 Percentage Return
Solid Waste Index 7500 6017 6734 11.92%
DOW 7322 10470 9504 -9.23%
TSE Composite 6700 9024 7639 -15.35%

Technical analysis: The Waste Index is calculated on a bimonthly basis. In order to maintain consistency and to meet the publishing deadline, it’s calculated on the last Friday of the second month of the given time period. The graph is plotted on a biweekly basis and the final point on the graph represents the closing values for the three indices Friday, March 23, 2001. The index was started at a value of 7500 points so that its magnitude is in the same range as the DOW and the TSE. It’s made up of a proportional representation of the firms listed, broken down by the itemized percentages. Share quotes ignore currency.


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