North America’s largest waste management company has closed both the 2015 fiscal year and the fourth quarter with a downtick in revenues. In financial results released in late February, Waste Management Inc. (WM) reported consolidated net income of $753m (€680.26m) for the year, a drop of 44 per cent compared to earnings of $1.33bn in 2014.
Earnings before interest, taxes, depreciation and amortisation (Ebitda) nonetheless amounted to $3.43bn, up slightly from $3.34bn the year before. The waste group also saw a slight year-on-year decrease in operating revenues at $13bn, down from $14bn (€12.65bn; $1 = €0.90). The full year decreases partially reflected a fall of approximately 17.5 per cent in average recycling commodity prices as well as a 5.5 per cent decline in volumes, said the company.
WM reported a $157m increase in internal revenue growth from its traditional solid waste business and said acquisitions contributed an additional $174m to revenues in the full year 2015. The increases were offset by a $762m decline from divestitures, the company said, as well as decreases in recycling revenues and fuel surcharge revenues and the negative impact of currency fluctuations.