Cleanaway’s FY26 EBIT guidance steady at $470 million with new CFO Nigel Simonsz starting soon

Executive Transition at the Helm of Finance

Cleanaway Waste Management Limited (ASX:CWY) is set for a leadership shuffle with the departure of long-serving Chief Financial Officer Paul Binfield after more than five years. Binfield’s exit marks the end of a significant chapter, during which he played a pivotal role in steering the company through major acquisitions and embedding financial discipline aligned with the firm’s Blueprint 2030 strategy.

Stepping into the CFO role on 27 July 2026 is Nigel Simonsz, a seasoned executive with a track record in public companies. His experience spans leadership positions at United Petroleum, Sigma Healthcare Limited, and Australian Agricultural Company, bringing a blend of financial acumen and commercial insight that Cleanaway’s CEO Mark Schubert highlighted as valuable for advancing the company’s capital allocation and cash generation priorities.

Binfield will remain through the first half of FY27 to oversee the FY26 reporting process and ensure a smooth handover, signalling a measured transition rather than an abrupt change in the company’s financial stewardship.

FY26 Earnings Outlook Maintains Mid-Range Guidance

Alongside the executive update, Cleanaway reaffirmed its FY26 underlying EBIT forecast at approximately $470 million. This figure sits near the midpoint of the guidance range first communicated in April 2026, reflecting a steady outlook despite external pressures such as elevated fuel costs and geopolitical tensions impacting the Middle East region.

The confirmation of this guidance comes after a period of adjustments earlier in the year, where Cleanaway trimmed its EBIT expectations by up to $20 million due to rising operational costs. The company’s ability to hold steady within its forecast range suggests effective mitigation strategies and operational resilience.

Investors will be looking ahead to the full year results release scheduled for 20 August 2026, which should provide a more detailed breakdown of financial performance and insights into how the company is tracking against its Blueprint 2030 goals, including margin expansion and cash flow improvements.

Strategic Focus Remains on Sustainable Growth

Cleanaway’s leadership changes and earnings update underscore a continued commitment to its long-term strategic vision. The Blueprint 2030 framework, emphasising disciplined capital allocation and sustainable growth, remains central to the company’s trajectory. CEO Schubert’s remarks on welcoming Simonsz and acknowledging Binfield’s contributions highlight a balance between continuity and fresh leadership as Cleanaway navigates the evolving waste management and environmental services landscape.

With a workforce of around 10,000 and operations spanning Australia, New Zealand, and the Middle East, Cleanaway is positioned to leverage its scale and operational footprint. The incoming CFO’s experience in diverse sectors could prove instrumental in driving the next phase of financial and commercial performance.