Toxfree has provided an update across its target markets: industrial, resources, infrastructure and health and technical.
In a public presentation to the UBS Australasia Conference 2017, Steve Gostlow, Toxfree Managing Director, highlighted Toxfree’s target market as valued at $4.6 billion in 2016.
Toxfree’s total market was valued at $15.8 billion and also includes: commercial and government, households and the construction industry.
The company’s growth has been aided by strategic acquisitions, organic growth and investment, allowing it to diversify. It now boasts 1,564 employees in 81 operating locations and 895 vehicles.
Some of the key growth drivers behind its growth in the health sector including an ageing population, advances in medical treatments, new waste streams and increased regulation.
In the infrastructure sector, population and metropolitan growth and increased government infrastructure expenditure has helped boost this area.
The industrial sector has meanwhile seen additional demand through increased landfill costs, product stewardship schemes and increased regulations. Civil infrastructure in Victoria and NSW continues to drive strong utilisation and earnings.
The resources sector has seen growth in LNG, iron ore and coal production, a greater focus on productivity and increased safety and environmental responsibilities.
Notable acquisitions over the years include Daniels Health, which covers the medical sector. Daniels Health continues to meet Toxfree’s financial expectations, up 13 per cent on the same time last year. The acquisition of Wanless also helped it with its Queensland expansion.
Toxfree has grown its e-waste recovery base through its HazPak systems and BluBox technologies , which allows it to safely handle hazardous waste.
The company forecasts the second half of FY18 to be stronger than the first, as existing contracts gain momentum in Darwin and soil remediation projects commence. New contracts with Inpex, FMG, Rusca Environmental Services (Shell Prelude) are also expected to gain momentum in the second half. The expansion of total waste management services to Daniels customers is also underway in Sydney and Melbourne.