focused strategies
delivering the best overall 
environmental outcomes
stock code aug
annual report  accounts 
for the year ended 31 december 2013 welcome
augean is one of the uk’s leading waste management businesses 
providing specialist services focused on managing hazardous wastes 
the augean group of companies provides a range of waste recovery 
recycling treatment and disposal solutions ensuring that our customers 
have a safe secure and environmentally compliant solution for all their 
waste management needs 
the group operates from nine locations across the uk from lerwick in the north 
to kent and avonmouth in the south the group’s head ofﬁce is located near 
wetherby west yorkshire 
at augean we are committed to providing appropriate waste management 
solutions for our customers our employees have expertise vital to delivering 
our services to exacting standards and understand the needs of our customers 
we continue to develop the range of technical compliance development and 
laboratory resources appropriate to a forwardlooking business working in the 
hazardous waste sector
investor website
we maintain a corporate website at wwwaugeanplccom 
containing a wide range of information of interest to institutional 
and private investors including
 latest news and press releases
 annual reports and investor presentations
wwwaugeanplccom stock code aug
for further information within this document  
and relevant page numbers
getting around this report augean plc annual report and accounts for the year ended 31 december 2013
01
read more on pages 04 and 05
qa with stewart davies
dr stewart davies joined the 
group as chief executive 
ofﬁcer in august 2013 inside 
he sets out his views on the 
augean business and where 
he sees opportunities for the 
future
read more on pages 22 to 27
performance
the group’s activities 
included continuing 
operations and discontinued 
operations during the year 
following the decision to 
close the waste network 
division all our continuing 
operations delivered 
improved ﬁnancial results 
in 2013
read more on pages 49 and 50
governance
good governance is 
essential to augean’s 
business working in the 
waste nuclear and oil  
gas sectors we are always 
mindful of the need to 
operate within strong internal 
control frameworks with a 
consistent focus in health 
safety and environmental 
compliance
what’s inside
narrative reports
strategic report 
overview
welcome to augean plc ifc
highlights  02
chairman’s statement 03
qa with stewart davies chief executive 04
reasons to invest in augean  06
our business and strategy
our business model 08
our organisation 10
marketplace 12
our strategy 14
case study technology 16
case study service 18
case study capability 20
our performance
operating review 22
– augean land resources 24
– augean oil  gas services 25
– augean north sea services 26
– augean waste network 27
corporate social responsibility performance 28
financial review 32
how the business manages risk  36
directors’ report 40
our governance 
board of directors 46
chairman’s governance introduction letter 48
corporate governance 49
audit committee report 51
nomination committee report 52
remuneration committee report 53
directors’ remuneration report 54
our financials 
independent auditor’s report 58
consolidated statement of comprehensive income 59
statements of financial position 60
statements of cash flow 61 
statements of changes in shareholders’ equity 62
notes to the financial statements 64
shareholder information 
notice of meeting 106
advisers and company information ibc revenue
£47123m 
11 2012 £42421m
adjusted pbt
£3172m 
22 2012 £2603m
ebitda
£6220m 
1 2012 £6255m
adjusted eps 
from continuing operations 
329p 
15 2012 286p
02
wwwaugeanplccom stock code aug
highlights
financial highlights
 adjusted proﬁt before tax for the group of £32m 
2012 £26m
 revenue from continuing operations increased by 19 
to £435m 2012 £367m 
 adjusted proﬁt before tax for continuing operations 
increased by 12 to £44m 2012 £39m
 adjusted earnings per share from continuing 
operations were 329p 2012 286p
 operating cash ﬂows of £59m supported capital 
expenditure and an increased equity stake in augean 
north sea services 2012 £58m
 proposed dividend of 035p per share 2012 025p
operational highlights
 improved performance from continuing operations 
driven by growth in key markets
 — reduction to total landﬁll volumes within land resources 
offset by disposal of higher margin waste
 — strong growth at augean north sea services ahead of 
board’s original targets
 — oil  gas services delivered positive ebitda and reduced 
year on year losses
 — east kent incinerator performance impacted by mechanical 
issues until quarter four
strategic developments
 closure of waste network division
 creation of augean integrated services business to 
focus on total waste management
 creation of radioactive waste services business to 
widen radioactive waste disposal opportunities
 purchase of a further stake in augean north sea 
services taking shareholding to 81
 long term planning permission secured at east 
northants resource management facility and 
thornhaugh landﬁll sites
post period end 
 sale of certain waste network sites for a consideration 
of £12m
 renewal of banking facilities through to july 2017 
providing debt funding of £150m
read more about our strategy on pages 14 and 15
key figures
£m unless stated
31 dec 
2013
31 dec
2012
change

combined continuing and discontinued operations
revenue 47123 42421 11
adjusted pbt 3172 2603 22
ebitda 6220 6255 1
operating cash flow 5862 5818 1
net debt 8491 6116 39
continuing operations only
revenue from continuing operations 43488 36694 19
adjusted pbt from continuing operations 4431 3939 12
adjusted earnings per share from continuing operations 329p 286p 15
proposed dps 035p 025p 40 “the board has proposed a 
40 increase in the dividend 
payment”
jim meredith
nonexecutive chairman
2013 was a year of signiﬁcant change for the group 
during which the business delivered improved revenues 
and proﬁt from continuing operations whilst continuing to 
grow in key markets 
net revenue for the year excluding landﬁll tax and inter
segment trading increased by 10 to £403m 2012 
£368m the total proﬁt attributable to our shareholders 
before exceptional items including impairment charges 
for the write off of assets and goodwill associated with 
the closed waste network division was £24m 2012 
£17m operating cash ﬂows of £59m 2012 £58m 
supported an enhanced level of capital investment and an 
increase to our stake in the augean north sea services 
business taking our holding to 81
the year began with the departure of paul blackler and 
the appointment of dr stewart davies as chief executive 
ofﬁcer stewart is now well established within the 
business and has brought the fresh thinking and insight 
the board hoped for at the time of his appointment the 
new strategy for the group developed by stewart and his 
management team with input from the board is outlined 
below conﬁrming our belief that augean has numerous 
realisable opportunities to support growth of the business 
in the coming months and years
during the year the group continued to be restructured 
and reshaped to ensure that the business was fully 
focused on our key markets in hazardous waste air 
pollution control residues apcr management 
radioactive waste disposal and north sea oil and gas 
these changes included the decision to close the waste 
network division and offer certain sites and assets for 
sale a process which is now complete 
as in the previous year there were improvements to health 
and safety performance during 2013 health and safety 
continues to be the number one priority of the board and 
management across the group and we were pleased to 
note a second consecutive year with a 25 decline in 
accidents the augean north sea services business led 
the way in safety standards recording eight years without 
a lost time incident in offshore operations the board is 
well aware of the dangers for our staff working in offshore 
environments as well as those onshore associated 
with the handling treatment and disposal of hazardous 
wastes this commitment to high standards of safety was 
underlined by the activities of the health  safety scrutiny 
committee led by a nonexecutive director and reporting 
directly to the board which further enhanced health and 
safety leadership within the business during the year 
i was pleased to note the addition of new shareholders to 
our register during the year and continued support from 
many of our longerholding investors the improvement in 
share price represented another step forward in ensuring 
that the group provides growth in the returns for all 
investors whilst the board remains focused on improving 
the returns from capital employed 
i believe that augean is stronger now than at any point 
during the past ﬁve years reﬂecting that conﬁdence 
the board has proposed a 40 increase in the dividend 
payment to 035p per share and has agreed to 
progressively increase the dividend in the coming years 
in line with improvements to business performance 
with improving economic conditions in the uk a 
refreshed strategy and several new opportunities under 
development i look forward to another year of growth and 
enhanced returns for shareholders during 2014
jim meredith
nonexecutive chairman 
25 march 2014
03
overview
augean plc annual report and accounts for the year ended 31 december 2013
strategic report
chairman’s statement q what will augean do to increase proﬁtability
a building our position in the growth markets and targeting 
further proﬁtable revenue growth from added value 
services are key drivers of proﬁtability improvement further 
margin growth will come from operational efﬁciencies as 
we progress initiatives to realise lower cost endtoend 
processing including accessing optimum energyfromwaste 
capacity
q what has changed in the strategy what will stop 
what will remain and what will be new
a the strategy which is summarised in the strategic report 
represents a further emphasis on getting closer to clients to 
deliver specialist services based on augean’s hazardous and 
radioactive waste management capabilities as a matter of 
principle we intend to stop lower margin value destroying 
activities thus reducing our dependence on broker trade 
and exiting national coverage of transfer stations the sale 
of our waste networks business exempliﬁes this as this 
business was based on broker trade and oneremoved 
from the waste producer thus preventing the clientfocused 
service strategy we remain committed to maintaining and 
developing the key assets in treatment and landﬁll that make 
augean a ‘goto’ company for specialist waste management 
capability what will be new is a focus on securing more 
longterm contracts where augean is providing direct clients 
with innovative solutions in which support services are a key 
component supported by a wider ‘integrator’ capability in 
addition we will be offering a broader array of north sea 
services and intensifying our radioactive waste focus
q what are the key market trends in waste management 
from augean’s perspective
a the latest environment agency data shows broadly 
ﬂat overall volumes of hazardous waste consigned by 
producers augean is growing revenues in this market 
because ﬁrstly we are focused on growth sectors 
particularly hazardous and radioactive wastes arising from 
oil  gas nuclear decommissioning and energy from waste 
and secondly we are progressing our strategy of carrying 
out more added value treatment and services
q how is augean organised to address its preferred 
sectors
a we have carried out some reorganisation to align our 
business with the key markets conﬁrmed by our recent 
strategy work the oil  gas sector is served by augean 
north sea services the subsidiary company in which the 
group now owns 81 the division previously titled oil  
gas services will be renamed to conﬁrm its focus on the 
reﬁnery chemicals and manufacturing sectors the creation 
of the new radioactive waste services division provides a 
direct face to the nuclear and radioactives markets with a 
remit to grow addedvalue services land resources will 
continue to sharpen our focus on the fast growing energy 
from waste sector as well as the continuing importance of 
the soils and demolition waste market our new integrated 
services division will accelerate the development of our 
services to total waste management customers 
in the first annual report 
since his appointment as ceo 
dr stewart davies shares his 
views on the augean business 
and the future for the group
04
wwwaugeanplccom stock code aug
qa with stewart davies chief executive q where is augean strong and where must augean build 
capability
a augean has strong positions in uk hazardous waste owning 
approximately half of the forward landﬁll capacity in the uk 
with planning and permitting secured we have an excellent 
reputation for our rigorous approach to technical issues and 
compliance including being the only waste management 
operator to have a ukasaccredited laboratory which 
ensures that our decisions are based on the highest 
standards of testing we are proud of the expertise of 
our people be they frontline employees carrying out our 
stringent waste management procedures frontofﬁce staff 
interfacing with our customers or directors meeting with 
regulators and policy makers to discuss the most effective 
way to deliver the uk’s strategy and policies for hazardous 
waste management
 we will build on our expertise in our key markets so that 
we can fulﬁl a more innovative partnering role with our 
customers as we address together the developing waste 
management needs of their sector our capability in 
delivering solutions for customers that include services 
and clientsite facilities will be developed learning from the 
successes of the north sea services business and the ﬁrst 
contracts of augean integrated services
q how will you approach investment and dividend 
payments
a with a three year track record in improving proﬁtability 
a commitment to taking this further and a strong list of 
opportunities for the group to invest for growth augean is 
wellpositioned to pursue a strategy which will grow returns 
from investments we do not see this as tightly linked to 
the uk macroeconomic cycle as the group’s key markets 
are more strongly inﬂuenced by investment in infrastructure 
in sectors that have different drivers for example north 
sea decommissioning as a growth company augean 
will continue to have opportunities to provide returns on 
investment projects that exceed the return required by 
shareholders – our project hurdle rate is 15 internal 
rate of return pretax thus to progress the strategy most 
effectively investment for growth will be required whilst 
seeking to progressively increase dividend payments year 
on year 
q how will you utilise the group’s debt facilities
a our strategy is to increase cash from operations providing 
funds for growth supported by appropriate debt facilities 
as long as there continue to be investment opportunities 
that advance the group’s strategy and deliver returns 
over the hurdle rate investing in these opportunities will 
use a combination of operating cash and debt the new 
debt ﬁnancing arrangements with hsbc conﬁrm that the 
business is in shape to carry up to the £15m debt facility 
q what principles guide augean’s approach to 
acquisitions
a buying our way into new markets risks destroying 
shareholder value unless there are operational and market 
synergies that we are conﬁdent can be delivered our most 
recent experience buying into north sea services has 
beneﬁted from the ability to process materials internally 
within the group and sell the combined capabilities to the 
market successfully we will apply this learning in the future 
as we consider potential acquisitions that would accelerate 
the group’s strategy and enhance shareholder returns
q where will the group be in three years time
a we expect to be more proﬁtable larger scale and more 
strongly positioned as a leader in our target market sectors 
more of our business will be in long term contracts with 
tier 1 wasteproducing customers who value the solutions 
we provide on their sites as well as in our own facilities 
the group will generate a higher proportion of its proﬁts 
coming from services and treatment and will be recycling 
and recovering resources from more of the waste it is 
managing recognised as an expert and innovative player 
in the industry we will be at the toptable discussing the 
development of the uk’s hazardous waste management 
strategy the increased resilience of our businesses 
will support shareholder conﬁdence and should sustain 
improved shareholder returns
05
overview
augean plc annual report and accounts for the year ended 31 december 2013
strategic report market leadership
augean is the market leader in uk hazardous landﬁll incinerator ash management 
low level radioactive waste disposal and treatment of wastes from offshore oil and gas 
exploration
serviceled customer focus
providing a great service to our customers including the development of appropriate 
waste management solutions ensures key customers are retained recent changes to 
our business have meant that over 40 of revenues are delivered through contracts and 
frameworks
planning permissions  environmental permits
each of our sites holds a broad range of planning permissions and environmental 
permits giving us the passport to operate in the hazardous waste industry
commitment to environmental compliance
the environment is at the heart of everything we do and we maintain a strong focus 
on delivering the best available environmental outcomes from our waste management 
activities
high standards of health  safety
the safety of our staff and the public is our number one priority evidence by a 25 
reduction in accidents in both of the last two years
1
2
3
4
5
read more about our performance in our operating review on pages 22 to 27
at augean we aim to deliver 
consistent improvements to  
the returns available to our 
shareholders
here are 10 reasons to invest in augean plc
06
wwwaugeanplccom stock code aug
reasons to invest in augean lorem ipsum dolor sit amet 
consectetur adipiscing elit 
curabitur scelerisque non 
velit et interdum
lorem ipsum dolor sit amet 
consectetur adipiscing elit 
curabitur scelerisque non 
velit et interdum
alignment with regulation
the waste industry is based on eu directives and uk regulation and the augean 
business has been developed to align with the direction of regulatory development
great assets 
our asset base includes a range of modern industryleading technologies allowing us 
to deliver recycling and recovery from hazardous waste not simply relying on landﬁll 
disposal
technical expertise
our people are highly qualiﬁed and have experience of a range of hazardous waste 
management markets this expertise allows our sales and operational teams to 
understand how to provide the best solutions to our customers
high quality support services
the group has invested in technical regulatory planning permitting business 
development project management and laboratory skills our central laboratory has 
ukas accreditation
experienced leadership team
our management board has over 100 years combined experience in our key markets 
and activities 
the combination of the right assets planning permissions and permits a focus on safety 
and compliance and signiﬁcant industry expertise represent barriers to entry in each of 
the group’s key markets and this provides a platform for future growth
6
7
8
9
10
07
overview
augean plc annual report and accounts for the year ended 31 december 2013
strategic report customer 
focus
service
solutions
specialist
waste
expertise
we understand our chosen 
market sectors and what drives 
value for our customers
we are trusted to deliver our 
clients’ critical but noncore 
operational services
we are known as the ‘go to’ company 
for hazardous and radioactive waste 
management that is fully compliant 
and resilient for the future
developing sustainable market positions
customer focus
 we focus on market sectors which are attractive and 
where we can build competitive advantage
 augean has the expertise to understand these markets 
and what drives value for speciﬁc customers
 we start with customer needs and address these 
innovatively taking a long term perspective
service solutions
 being close to customers enables us to work with the 
outcomes they need not just the speciﬁcation they 
have procured to
 we deliver services that are critical for our customers’ 
operations safety compliance time quality cost but 
are not their core capabilities
 augean has a successfully growing trackrecord in 
service solutions 
specialist waste expertise
 augean has the knowhow assets and permissions 
that make us a ‘go to’ company for hazardous and 
radioactive waste management 
 our strategic perspective on regulatory and market 
developments provides clients with assurance that 
augean’s treatment and ﬁnal disposal is fully compliant 
and resilient for the future
 resource efﬁciency is a growing part of the solutions 
we provide through recovery and recycling
08
wwwaugeanplccom stock code aug
our business model growth in 
asset base
investments returning
15 irr
retained proﬁt
growth 
in profit
growing 
proﬁtable business
improving margins
growth 
in returns
increasing free 
cashﬂow
appropriate 
funding model
… to increase shareholder value
growth in profit
 maintaining position in growth markets and investing in 
new markets and services support growth in revenues 
 further reduction in endtoend processing costs 
drives margin improvement
growth in asset base
 prioritised approach to strategic projects ensures 
quality of investments
 maintaining hurdle rate 15 for investment projects
growth in returns
 the maintenance capex for the assetintensive parts 
of the business remains stable hence increasing free 
cash ﬂow
 appropriate funding model will use debt to fund 
growth so far as that optimises returns to shareholders
 dividends to progressively increase in line with 
improvements to business performance
developing sustainable 
market positions to increase 
shareholder value
09
strategic report
augean plc annual report and accounts for the year ended 31 december 2013
our business  strategy
strategic report key services
 drilling waste management
 water treatment
 marine services
 hazardous waste management
 industrial services
key services
 industrial wastewater treatment
 industrial services
 thermal recovery
 secondary fuels production
key services
 soil treatment
 efw ash stabilisation
 hazardous waste disposal
 energy and mineral resources
key services
 stabilisation
 thermal treatment
 secure disposal
 client site services
assets aberdeen x4 lerwick
assets  avonmouth paisley  
port clarence warp east kent
assets  enmrf port clarence 
thornhaugh
assets  enmrf port clarence  
east kent
assets cannock east kent
key services
 client solutions
 hazardous waste management
 support services
 high temperature incineration
complete waste services  
for north sea operators
integrated solutions for 
wasteproducing clients
recovery of resources 
from wastes
waste treatment and 
disposal solutions
specialist treatment  
and disposal
our organisation is changing from april 2014  the group will be comprised of ﬁve business divisions
10
wwwaugeanplccom stock code aug
our organisation at augean we aim to 
align our activities 
with key markets 
and regulations
the waste hierarchy
waste management practices are based on a hierarchy 
of activities deﬁned by environmental law and regulations 
this waste hierarchy assumes that the most favoured 
outcome is prevention where no waste is generated and 
no management is required at augean we operate in 
markets where waste is produced is usually hazardous in 
nature and does require active management to avoid any 
adverse impact on society and the environment
each of our ﬁve operating divisions are aligned with 
well deﬁned waste markets each requiring a different 
blend of knowledge expertise treatment and disposal 
assets to successfully manage each customer’s critical 
waste needs our focus is to ensure that the services we 
provide deliver the best overall environmental outcome 
irrespective of where that places the activity on the  
waste hierarchy 
notes
 the creation of the new 
radioactive waste services 
division provides a direct 
face to the nuclear market 
with a remit to grow added
value services 
hierarchy activity
markets
 oil  gas
 north sea support services
 north sea decommissioning
markets
 high value manufacturing
 life sciences
 clinical
markets
 ports
 reﬁneries and chemicals
 waste management operators
markets
 energy from waste
 construction and demolition
 infrastructure
markets
 nuclear energy
 oil  gas waste intermediaries
 medical scanning and  
radiotherapy
2
notes
the oil  gas sector 
is served by augean 
north sea services the 
subsidiary in which the 
group now owns 81 
notes
augean integrated 
services the new division 
formed from waste 
network will accelerate 
the development of our 
services to total waste 
management customers
notes
the division previously 
titled oil  gas services 
is renamed industry and 
infrastructure services to 
conﬁrm its focus on the 
reﬁnery chemicals and 
manufacturing sectors 
notes
 land resources is renamed 
energy  construction waste 
services to sharpen our 
focus on the fast growing 
energy from waste sector 
as well as the continuing 
importance of the soils and 
demolition waste market
hierarchy activity
2
least
favoured
option
prevention
minimisation
reuse
recycling
energy 
recovery
disposal
waste 
hierarchy
favoured
option
1
2
3
4
5
6
hierarchy activity
2 4 6
hierarchy activity
4
hierarchy activity
2 5
5 4 6
1 3
3
3
2 5 6
6
6
11
strategic report
augean plc annual report and accounts for the year ended 31 december 2013
our business  strategy
strategic report the group operates in three major ukbased markets 
being the broad hazardous waste market waste from 
nuclear decommissioning and waste from north sea oil 
and gas exploration and production 
the market for hazardous waste in the uk is based 
on a legislative environment underpinned by the 
implementation of the european union’s waste 
framework directive and the uk’s own hazardous waste 
national policy statement nps which encourage 
sustainable methods of managing waste and the 
development of treatment recycling and recovery facilities 
as the key focus of future waste management activities 
within this the waste hierarchy provides a framework for 
waste management and implementation of infrastructure 
which will allow sustainable waste management solutions 
the adoption of the nps in june 2013 conﬁrmed the 
need for the portfolio of facilities and services developed 
by augean over the past ﬁve years importantly the group 
plays an active part in ﬁve of the seven sectors identiﬁed 
as essential for the management of hazardous wastes in 
the uk
the hazardous waste market is highly segmented with a 
total volume of approximately 4 million tonnes of waste 
handled in the uk each year within this arena augean 
continues to focus on the treatment and disposal of 
waste from construction and demolition activities energy 
from waste operators specialist manufacturers and 
other industrial producers the group’s high temperature 
incinerator at east kent operates within the narrower 
segment of clinical and pharmaceutical wastes 
data published by the environment agency during 2013 
on the production of hazardous waste indicated that 
approximately 1 million tonnes are disposed to hazardous 
landﬁll sites per annum the most recent data available 
source environment agency wwwenvironmentagency
govuk and the total uk capacity for hazardous landﬁll 
was approximately 16 million tonnes augean’s land 
resources division continues to be a leading provider 
within this market holding approximately 50 of the uk’s 
remaining hazardous landﬁll capacity 
augean’s treatment and disposal to landﬁll includes the 
management of certain byproducts from energy from 
waste incinerators efw these facilities produce air 
pollution control residues apcr and also a heavier 
bottom ash the group has developed the capability to 
treat and dispose of apcr at our sites at port clarence 
and east northants resource management facility 
enrmf handling approximately 40 of the total traded 
volume during 2013 this market of approximately 
200000 tonnes per annum is expected to double over 
the next three years as the number of efw facilities 
increases 
the landﬁll market is underpinned by legislation 
derived from the landﬁll directive within which certain 
exemptions known as ‘derogations’ were originally 
allowed for the disposal of wastes to landﬁll with elevated 
levels of lead andor chlorides these derogations were 
to be progressively removed as the waste industry 
developed new treatment methods for the control of 
these substances prior to landﬁlling or indeed their 
complete diversion from landﬁll disposal as the body 
responsible for the implementation of the directive in the 
uk the environment agency ea began a consultation 
process for the removal of the derogations in february 
12
wwwaugeanplccom stock code aug
marketplace 2014 the ea has indicated that the current derogations 
will be phased out over a two year period augean has 
anticipated removal of derogations and invested in new 
treatment facilities at the enrmf and port clarence sites 
meaning that the business is well placed to deal with the 
impact of future derogations removals and with further 
investment under review to provide a comprehensive 
hazardous waste treatment service for the growing efw 
market 
the nuclear decommissioning market relates to the 
closure and dismantling of the uk’s redundant nuclear 
power and research facilities managed on behalf of 
the uk government by the nuclear decommissioning 
authority nda in addition to this the disposal of 
naturally occurring radioactive material norm generated 
in the exploration for and production of oil and gas is also 
a key radioactive waste market for the group the nda 
publishes regular updates on the inventory of radioactive 
wastes requiring disposal whilst reliable statistics on 
the scale of the norm market remain limited augean 
has planning permission and environmental permits in 
place to dispose of low activity low level waste llw 
very low level waste vllw and norm based on public 
information and our own estimates we believe that up to 
6000 tonnes of llwvllw are generated in the uk each 
year we also estimate that up to 2000 tonnes of norm 
may be released per annum
the markets for waste produced in the exploration for 
north sea oil and gas are centred on aberdeen and 
extend to the shetland isles for the northern sector and 
for the southern sector are centred on great yarmouth 
norfolk the group provides services for a range of 
offshore wastes including the cuttings from drilling of oil 
and gas wells oilcontaminated water known as slops 
and a more general range of industrial hazardous wastes 
information published by the uk government indicates 
that the market for drill cuttings represents 36000 
tonnes per annum and for slops a further 56000 tonnes 
per annum the group’s market share in each of these 
markets is estimated as 40 and 20 respectively
13
strategic report
augean plc annual report and accounts for the year ended 31 december 2013
our business  strategy
strategic report following his appointment as chief executive ofﬁcer 
dr stewart davies has undertaken a strategy review to 
further develop the group’s strategy and provide the 
necessary direction to position the group for successful 
growth the review is now complete and the conclusions 
are summarised in this report
core strategy
the core strategy of the group is to grow shareholder 
value by building market share and developing sustainable 
market positions to do this we will increasingly work with 
customers to provide solutions whereby augean delivers 
specialist services focused on hazardous waste
develop sustainable market positions
the strategy is to focus on attractive markets for specialist 
waste selected based on objective criteria that have been 
revisited in the business strategy review this exercise has 
been undertaken with the expertise within the group and 
also made use of independent facilitation and challenge 
the decision to exit from the waste network division was 
made early in the process due to the limited prospects for 
proﬁtable growth in the medium term
a key target of the business is enhancing returns and 
augean is well positioned in attractive markets both 
sectoral and regional where we have expertise and 
assets including treatment technologies that differentiate 
our service and build entry barriers understanding 
these markets enables us to progressively develop the 
capabilities required to maintain and build our position 
often against the background of changing environmental 
or client requirements these require timely investments 
that are included in the business planning process
moving more of the group’s revenues from the prevalent 
‘spot’ or short term contracts to long term contracts 
and frameworks is vital to improve the forward visibility 
of the order book the current position represents an 
opportunity to increase our mutual commitment with 
customers with attendant beneﬁts of creating more value 
vital to sustaining our market positions is further 
developing augean’s strong reputation and relationships 
built by management with ‘outsidein’ understanding 
of each sector recent directorlevel appointments 
conﬁrm the group’s progress in building a top team with 
outstanding knowledge of the key market sectors
grow through clientfocused solutions
as noted above the group has further opportunities to 
work more closely with customers organisations whose 
operations produce the hazardous waste rather than 
intermediaries and on a longerterm contracted basis
working to understand the client’s need and then 
developing a solution by leveraging the knowledge of 
sector experts has been identiﬁed as a fundamentally 
important new focus for the group this is an area 
where we have already seen considerable success with 
north sea oil and gas operators and with high value 
manufacturing companies we are taking steps to ensure 
that innovation opportunities arising from customer 
interfaces are identiﬁed and managed effectively
specialist services focused on 
managing hazardous wastes
14
wwwaugeanplccom stock code aug
our strategy the business strategy review has highlighted the beneﬁts 
of combining our hazardous waste management 
capability with expertise in offering associated support 
services targeting the critical but noncore needs of 
clients requiring hazardous waste management is where 
the potential for valuecreating support services is highest 
for the group half of the management board directors 
have signiﬁcant support service experience enabling the 
group to develop by offering solutions that are supported 
by integrated service and management capabilities 
selling and delivering one complete augean capability 
brings consequent beneﬁts to the client of working with a 
uniquely capable partner and to the group of accessing 
its share of value created through this longerterm more 
integrated relationship with customers
increase shareholder value
along with important continuing contributions from the 
group’s traditional markets in construction and industrial 
hazardous waste we see proﬁtable revenue growth from 
investments which increase our capabilities in our key 
markets notably nuclear decommissioning north sea oil 
and gas and ash from energy from waste incinerators 
growing the proportion of our revenues that come from 
service offerings to our hazardous waste customers 
should further drive proﬁtable revenue growth 
the business strategy review has highlighted the next 
phase of reduction in endtoend processing costs 
particularly in the processing of oilcontaminated water 
drill cuttings and industrial wastes as these are delivered 
they will contribute to margin improvement
the group is wellpositioned to identify potential 
corporate investments associated with its key market 
sectors that would accelerate the strategy and provide 
clear operational and market synergies we will bring 
these forward as and when suitable opportunities are 
identiﬁed
15
strategic report
augean plc annual report and accounts for the year ended 31 december 2013
our business  strategy
strategic report 16
wwwaugeanplccom stock code aug
case study one
technology case study
secure destruction at east kent
augean operates an extensive waste storage and 
treatment facility at our east kent waste management 
facility the site provides secure storage for a range of 
hazardous wastes from the pharmaceutical clinical and 
life sciences sectors as well as government departments 
these wastes require complete destruction and the high 
temperature incinerator hti at the site provides the ideal 
solution the hti treats waste at temperatures up to 
1200 degrees celsius is capable of receiving liquid and 
solid waste streams and is operated by our experienced 
and highly trained staff with an onsite laboratory 
providing analytical support and a signiﬁcant storage 
footprint this fully permitted facility deploys sophisticated 
technology to solve our customers’ waste management 
challenges
17
strategic report
augean plc annual report and accounts for the year ended 31 december 2013
our business  strategy
strategic report
key y m me es ss sa ag ge e we use the most 
a ap pp pr ro op pr riat te technology to 
d de el li iv ve er r w wa as st te e m management 
s so ol lu ut ti io on ns s  f fo or r  o ou ur r c cu ust to omers service
18
wwwaugeanplccom stock code aug
case study two case study
services to the oil and gas sector
augean supports the north sea oil and gas sector 
by providing a complete service for the management 
recovery and disposal of wastes produced in the 
offshore exploration and production of oil and gas our 
experienced teams operate on the drilling rigs alongside 
the drilling operators managing waste at source and 
ensuring that the rig operates to optimum efﬁciency 
waste is containerised and returned to shore where it 
passes along the supply chain into our bespoke facility 
at port clarence at this site the waste is stored and 
then thermally treated to recover oil the residues are 
disposed in the onsite landﬁll cells from rig to disposal 
point our customers are provided with the complete 
service package delivering the best overall environmental 
outcome  
o o p pr ro ovide k ke ey y m me es ss sa ag ge e  w we e a ai im m t t
which h m me ee et t a range of services w w
cal l w wa as st te e our cust to om me er rs s’ ’ c cr ritic c
m ma an na ag gement needs
19
strategic report
augean plc annual report and accounts for the year ended 31 december 2013
our business  strategy
strategic report capability
20
wwwaugeanplccom stock code aug
case study three case study
the right knowledge and experience
at augean our staff are essential to the success of our 
business working with hazardous waste introduces 
a number of risks which are dealt with every day by 
competent operators with the appropriate knowledge and 
skills to deliver to high standards dealing with difﬁcult 
waste streams may require expertise in chemistry in 
use of complex technology or in the most appropriate 
working practices it also requires a strong understanding 
of health safety and environmental compliance from 
using the right assets and tools to wearing the right 
protective equipment each of our operators is trained 
to deal with the demands of their working environment 
ensuring they have the capability and competence to 
deliver great results
v ve e e e e e k k k k k k ke ey y y y y m m m m m m m m m m me e e e e e e e e e es s s ss sa a a a a a a a a a a ag g g g g g g g g g g g g ge e e e e e e e e e e e e e e e e ef f f f ff f f fe e e e e e e e e e e e e e e e e e e e e e e e e e ec c c c c c c c c c c ct t t t t t ti i i i i i iv v v v v v v v v v
r r r r r r r rd d d d d d d d d d d dous s m m m m m m m ma a a a ana a a a a a ag g g g g g g g g ge e e e em m me e e e e e e e e en n n n n n n n n n n nt t t t t o o o o o o o o o o o of f f f f f f f f f f f f h h h h h h h h h h h h h h h h h h h h h h h h h h h h h ha a a a a a a a a a a a a a a a a a a a a a a a a az z z z z z z z z z z za a a a a a a a a a a a a a a a a ar r r r r r r r
p pl l l l le e w wi it th h t th he e w w w w w w w w w w wa a a a a a as st t t t t t te e e e e e e e e e es s s s s s s s s s s s s s r re e e e e e e e e e e e eq q q q q q q q q q q q q qu u u u u u uire e e e e e e e e es s s s s s s s s s s s p p p p p p p p p p p p p p p p p p p p p p p p p p p p p p p p p p p p p p pe e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e eo o o o o o o o o o o o o o o op p p p p p
e e e e e e e e e e e ex xpe er ri ie ence r r r r r r r r ri i ig g g g g g gh h h h ht t t t t t t t t t t t k k k k k k k k k kno o o o o o o ow w w w w w w w w wl l l led d d d dg g g g g g g g g g g ge e e e e e e e e e e e e e e e e a a a a a a a a a a a a a an n n n n n n n n n n n n n n n n n n n n n n nd d d d d d d d d d d 
21
strategic report
augean plc annual report and accounts for the year ended 31 december 2013
our business  strategy
strategic report “for the continuing 
operations adjusted 
profit before tax was 
£44m an increase of 
£05m from 2012”
stewart davies
chief executive officer
introduction
the group delivered improved revenues and earnings 
during the year with revenue from the combined 
continuing and discontinued operations rising by 11 
from the previous period this improvement was driven 
by strong second half performances in the continuing 
operations of the group in particular land resources 
and augean north sea services anss exceptional 
impairment and project charges of £40m were required 
against discontinued operations following the closure and 
offer for sale of the waste network division performance 
improvements were delivered from each of the continuing 
operations of the group
during 2013 the group operated through three divisions 
and the north sea services subsidiary the ﬁnancial 
results included in this report are based on that structure 
the majority of the disposed waste network division 
is included as a discontinued operation whilst the 
continuing operations refer to land resources oil  gas 
services augean north sea services and the east kent 
waste recovery facility and the newly formed augean 
integrated services 
the board reported in september 2013 that it had 
taken the decision to sell or close the underperforming 
waste network division this business had been formed 
from waste management facilities purchased by the 
group during the period from 2006 to 2008 despite 
restructuring investment in sales resources and latterly 
cost reduction initiatives the division and its precursors 
had sustained consistent losses over the previous ﬁve 
years as waste transfer markets were squeezed during 
the economic downturn the assets of the division were 
offered for sale during the ﬁnal quarter of 2013 and 
numerous enquiries were received from prospective 
buyers this led to two separate transactions one 
involving the sale of the business and site at hinckley to 
greenway environmental limited and the other based 
on the sale of the business at rochdale and the site at 
worcester to cleansing service group limited these 
transactions were completed in march 2014 with 
combined consideration received of £12m
adjusted proﬁt before tax pbt for the combined 
continuing and discontinued operations increased to 
£32m in the year a 22 growth over 2012 for the 
continuing operations adjusted pbt was £44m an 
increase of £05m from 2012
during the year an opportunity arose to increase augean’s 
stake in anss through the purchase of 11 of the equity 
from our jointventure partner scomi oiltools europe 
limited the purchase was completed during july for a 
consideration of £03m resulting in augean owning 81 
of the total equity with the anss business continuing 
to grow and with future opportunities for further 
development the increased shareholding is expected to 
improve the returns from the capital employed available 
from the business 
richard allen
finance director
22
wwwaugeanplccom stock code aug
operating review the operating cash ﬂow generated by the group during 
the year was reinvested in new assets and facilities to 
support generation of future revenues and cash ﬂows 
capital investment of £63m included strengthening the 
group’s capabilities in the growing markets of energy 
from waste and north sea oil and gas exploration in 
addition two new landﬁll cells were constructed at the 
enrmf and port clarence sites adding 340000 m
3
 of 
void space to the constructed landﬁll capacity with the 
addition of 16 million m
3
 potential future void space 
following the successful planning permission applications 
at enrmf and thornhaugh the group now holds an 
estimated 95 million m
3
 of potential landﬁll void to 
support working capital and these investments the 
£100m banking facility with hsbc remained in place 
throughout the year in march 2014 those facilities were 
reﬁnanced through to july 2017 extending the available 
debt funding to £150m see below
the group employed an average of 292 staff 2012 268 
over the course of the year this included 218 staff in 
the core business and a further 74 in augean north sea 
services at the end of the year 293 staff were employed 
by the group but this number fell to 280 in january 2014 
following redundancies associated with the sale of the 
waste network division 
planning and permitting
the securing of planning permission and maintenance 
of appropriate environmental permits at the group’s 
sites is an essential part of the ongoing operations 
and future development of the business on 10 july 
2013 the secretary of state for communities and local 
government granted a development consent order 
dco for the extension of the landﬁll site at enrmf this 
site provides treatment and disposal services for a range 
of remediated soils and building rubble apcr and low 
activity radioactive wastes and is the principal hazardous 
waste landﬁll site in the south of england the planning 
permission granted through the dco allows the life of 
the site to be extended to 31 december 2026 which 
will result in an increase in the capacity of the existing 
treatment facility and construction of in excess of  
1 million m
3
 of new hazardous landﬁll void space 
enrmf was the ﬁrst hazardous landﬁll site in the uk 
to dispose of llw from former nuclear power stations 
and research facilities under the control of the nuclear 
decommissioning authority nda the site will continue 
to treat and dispose remediated soils apcr and low 
activity radioactive wastes making a major contribution 
to the national infrastructure required to manage these 
specialist waste types as set out in the uk’s hazardous 
waste national policy statement published in june 
2013 it is expected to continue to be the largest 
contributor to the group’s revenue and operating proﬁt 
providing a solid platform for the future development 
of the business with positive returns from the capital 
employed 
performance 
the group operated through three divisions land 
resources waste network and oil  gas services 
and a subsidiary company augean north sea services 
waste network included continuing and discontinued 
operations the performance of each of these is reported 
below 
23
strategic report strategic report
our performance
augean plc annual report and accounts for the year ended 31 december 2013 “the division 
delivered 
improvements to 
the mix of wastes 
treated and 
disposed at the sites 
enhancing margins”
in the land resources division renamed energy  
construction during 2014 revenues excluding landﬁll 
tax and intersegment trading were £152m a reduction 
from the previous year 2012 £157m volumes of waste 
disposed fell to 295472 tonnes during the year from 
320392 tonnes in 2012 reﬂecting a stable landﬁll market 
for hazardous waste disposal but compared against a 
very strong ﬁrst quarter during 2012 
the division delivered improvements to the mix of wastes 
treated and disposed at the sites enhancing margins 
as decreased volume of lower value soil remediation 
work was replaced by apcr ash from incinerators and 
low level radioactive wastes the average price for pre
treatment and disposal services also increased to £504
tonne 2012 £449tonne as the mix of waste continued 
to move away from traditional hazardous and non
hazardous direct disposal landﬁll activities towards pre
treatment solutions hazardous landﬁll activities continued 
to be the largest revenue driver for the business 
delivering £85m although this did represent a reduction 
from 2012 £104m
the volume of apcr handled by the division rose by 
47 to 86000 tonnes as new treatment facilities were 
commissioned at the enrmf site the contribution from 
apcr sales to the divisional revenues increased by £14m 
over the previous year and with the investment made 
the division now has the capacity to treat recycle and 
dispose of approximately 90000 tonnes of apcr each 
year market opportunities exist to support further growth 
of this capacity during 2014
wwwaugeanplccom stock code aug
augean land resources
disposal of low activity radioactive wastes also increased 
from the previous year with £16m of revenue generated 
an increase of £10m over 2012 £06m the division has 
continued to work within the ndasponsored national 
supply chain for disposal of vllw and llw from the uk’s 
nuclear estate and has also increased its presence as 
a provider of disposal services to producers of norm 
in november the group announced the creation of a 
new radioactive waste services unit headed by a new 
director with signiﬁcant nuclear industry experience 
this change is expected to build upon augean’s well 
established position as a major provider of low level waste 
disposal solutions to the nuclear and oil and gas sectors
other revenue streams from energy generation using 
landﬁll gas and minerals extracted under a royalty 
agreement at the cooks hole site contributed £03m to 
operating proﬁt performing in line with expectations
in total the division delivered improved operating proﬁt 
before exceptional items of £71m during 2013 2012 
£67m driven by increasing volumes of apcr and low 
level radioactive wastes
in support of the division’s status as the primary proﬁt unit 
of the group investment continued in assets which will 
provide a medium term return spending £33m including 
the construction of two new hazardous landﬁll cells at port 
clarence and enrmf the cells will provide a combined 
additional 340000 m
3
 of landﬁll void space capacity 
for approx 475000 tonnes of waste for use over the 
next two to three years investment also allowed the 
completion of a new tank farm and treatment plant at port 
clarence supporting the growth of the apcr business 
and backed by new contracts for apcr disposal 
24 “the division 
achieved its target 
of delivering 
positive ebitda 
during the year”
sales revenues in the oil  gas services division ogs 
excluding intersegment trading fell from £111m in 2012 
to £96m in 2013 but this was driven by the impact of 
growing intercompany transactions within the group 
between ogs and anss totalling £19m in the year 
ogs operates the port clarence waste recovery park 
and provides treatment and disposal services to anss 
for drill cuttings received from offshore oil and gas drilling 
operators this preexisting relationship was internalised 
following the acquisition of anss by the group in may 
2012 and the services provided by ogs continue to be 
a core component of the group’s ambition to develop a 
strong presence in north sea waste markets 
at port clarence waste recovery park the division 
continued to develop its capabilities during the year for 
the treatment and disposal of waste from north sea oil 
and gas exploration the indirect thermal desorption 
unit at the site was upgraded with a new rotating drum 
extending the life of the facility by ten years in addition 
a new lagoon was built as a storage facility for drill 
cutting wastes enhancing the site’s ability to deal with 
increasing volumes of drill cuttings secured by anss the 
quality of the assets at port clarence and the continuous 
improvement of the procedures required to operate them 
were recognised in positive feedback from customer 
audits undertaken during the year
underlying sales for the division excluding all inter
segment trading were stable year on year supported 
by activity at the avonmouth and paisley sites paisley 
beneﬁted from restructuring undertaken during 2012 
and a sharper focus on its key markets and customers 
the industrial cleaning services provided from the site 
continued to develop and lower margin transfer work was 
reduced at avonmouth the business was focused on 
oil and solvent recovery and supported by the addition 
of transfer station capacity new disposal routes for oil 
sludges were sourced and opened which began to 
reduce the operating costs of the facility these beneﬁts 
are expected to continue into 2014
reductions to operating costs and a focus on margin
enhancing activities reduced the operating losses before 
exceptional items of the division by £01m to £10m 
with depreciation costs of £10m the division achieved 
its target of delivering positive ebitda during the year 
at £005m although small the positive ebitda provides 
a platform for continuing improvements during 2014 
particularly through the reduction of waste disposal costs 
with disposal routes secured under contracts
the division will be renamed industry  infrastructure 
during 2014 
25
strategic report strategic report
our performance
augean plc annual report and accounts for the year ended 31 december 2013
augean oil  gas services “revenues
increased to £93m
activity grew in all 
the key revenue 
streams of the 
business”
in its ﬁrst full year of trading anss exceeded expectations 
for revenues operating proﬁt and ebitda the business 
became well established as a provider of waste 
management services to north sea oil and gas operators 
with a strengthening presence in the aberdeenbased 
market revenues excluding intersegment sales 
increased to £93m from £34m during 2012 the volume 
of activity grew in all the key revenue streams of the 
business including the volume of drill cuttings and slops 
managed on behalf of customers and the presence of 
anss personnel and equipment on drilling rigs to provide 
offshore waste management services
to ensure that anss had the infrastructure in place to 
grow its presence in north sea waste management 
markets the board took a decision during the year 
to allow the majority of the ebitda generated by the 
business in 2013 to be reinvested in new facilities and 
assets ebitda of £10m was generated during 2013 
and capital expenditure of £10m matched this result the 
business invested in new facilities and also equipment to 
support its offshore waste management activities
augean north sea services
new facilities included the purchase of a long term lease 
for a permitted waste management site at tullos in 
aberdeen which was completed during the ﬁrst quarter 
at a cost of £01m and subsequent work to develop 
the assets into an effective waste transfer station and 
treatment centre during the second half of the year the 
business also purchased a site at blackdog in aberdeen 
costing £02m providing facilities for the management 
of drill cuttings prior to transport to port clarence and 
also for development of slops treatment with an existing 
slops tank farm at pocra quay and access to treatment 
capabilities within the broader augean group anss 
now has the capability to offer a comprehensive range of 
waste management services to its customers 
during the year the board reiterated its conﬁdence in the 
future potential of anss by authorising the purchase of a 
further 11 of the share capital of the business by way 
of a debt to equity swap with our partners scomi oiltools 
europe ltd scomi augean cancelled debts owed by 
scomi valued at £03m to acquire an additional £04m 
of the net assets of anss this has increased augean’s 
ownership to 81 with scomi retaining the remaining 
19 and generated a £01m credit to the group’s 
retained earnings
for the full year anss delivered operating proﬁt before 
exceptional items of £07m
26 26
wwwaugeanplccom stock code aug “the continuing 
activitiesare based 
on contracts with 
a small numbers of 
key customers”
the performance of the waste network division is 
presented in the ﬁnancial statements contained in 
this report split between continuing operations and 
discontinued operations continuing operations relate 
to the east kent waste recovery facility ekwrf 
and certain waste management activities based at the 
cannock site now included in the new augean integrated 
services business the discontinued operations relate 
to former waste transfer stations at hinckley worcester 
and rochdale and the associated assets vehicles and 
sales and support activities which are no longer owned or 
operated by the group
the continuing operation of the high temperature 
incinerator at ekwrf experienced breakdowns during 
the ﬁrst half of the year causing signiﬁcant outages 
and resulting in throughput of waste for incineration 
below the levels required to generate positive ﬁnancial 
results further downtime was incurred while the solid 
feed handling systems of the plant were refurbished 
during the third quarter along with other essential plant 
modiﬁcations and upgrades the extended period of 
limited throughput had a signiﬁcant impact on the results 
for the year revenues for the site were below plan at 
£15m 2012 £11m and resulted in operating losses 
before overhead allocations of £09m capital investment 
of £04m was required to upgrade the plant during the 
year and the beneﬁt of this is expected to support delivery 
of a positive operating proﬁt performance during 2014 
the investment allowed throughput to be stabilised by the 
end of the year and an acceptable level of throughput to 
be reestablished in line with that planned during the ﬁrst 
quarter of 2014
the continuing activities retained by the group from 
the former waste network transfer stations are based 
on contracts with a small number of key customers to 
whom the new ais business will provide a range of waste 
management services these customers and activities 
generated £12m of revenue during 2013 at a gross 
margin of approximately 60 this margin is signiﬁcantly 
higher than the average for the former waste transfer 
stations and provides a sound platform for the new 
business
the discontinued operations of the division generated 
revenues after intersegment sales of £36m with an 
operating loss before exceptional items of £13m the 
losses included the overhead costs associated with 
operating the waste transfer sites including sales 
technical and support activities as part of the sale 
process for the business based at the sites at hinckley 
worcester and rochdale a signiﬁcant reduction was 
also made to the overhead costs carried by the group 
this led to a review of support costs across the group 
to establish a lower cost base and also resulted in 11 
redundancies for those employees associated with the 
activities of the waste network division who did not 
transfer to new employers cost savings of up to £10m 
per annum have been enabled through the overhead 
reductions 
augean integrated services and east kent waste 
recovery facility will be managed as a single operating 
division during 2014
27
strategic report strategic report
our performance
augean plc annual report and accounts for the year ended 31 december 2013
augean waste network 28
wwwaugeanplccom stock code aug
corporate social responsibility  
csr performance
the group continues to deliver the objectives of 
bat through its operations and works closely with 
the regulators to ensure that augean is a leader in 
compliance in the sector activities are delivered subject 
to well developed environmental controls and compliance 
systems as deﬁned in the integrated management 
system involving suitably competent people in 
the management of all aspects of its operations 
environmental reporting is prepared and monitored 
within the group and supplemented by information from 
regulators this includes the environment agency’s own 
review of companies operating in the waste sector which 
are subject to their account management regime of 
which augean is one the information available for 2013 
indicates that the group’s operations do not result in a 
signiﬁcant impact on the local environment and in general 
our environmental performance has improved signiﬁcantly 
over the past ﬁve years the kpi table below includes the 
scores from the environment agency ea in england and 
the scottish environmental protection agency sepa in 
scotland and demonstrate a year on year improvement 
the board recognises the important role played by the 
group in the environment and communities within which 
it operates the health and safety of our employees 
and compliance with regulations are two of the top 
three business priorities proﬁt performance being the 
third augean is committed to conducting its business 
operations in an open and responsible manner and we 
recognise the need to continually improve our operations 
where practical to do so in order to reduce our impact 
on the environment to continuously improve assets 
and processes to ensure the safety and welfare of our 
employees and to act as a good neighbour minimising 
the impact of our operations on the wider community
the group has a commitment to mitigating any adverse 
effects of its operations and this is explained further in the 
detailed csr report published alongside this report
the environment
all operating sites and activities are strictly regulated by 
environmental authorities through a range of regulations 
set out in the permits for each site in the context of 
hazardous waste the principal instruments driving 
standards are the waste framework directive and the 
industrial emissions directive which provide an integrated 
approach to pollution control to prevent emissions into air 
land or water the standards expect the techniques and 
procedures adopted by the group to represent the best 
available technique bat bat requires a review of each 
activity and the implementation of the highest standards 
to minimise emissions be energy efﬁcient reduce waste 
and consumption of raw materials manage noise 
vibration and heat loss and ensure accident prevention is 
in place 29
strategic report strategic report
our performance
augean plc annual report and accounts for the year ended 31 december 2013
as part of our commitment to implement the elements of 
the waste hierarchy relevant to the hazardous sector the 
group continues to take a strong role in the development 
of regulation and policy for hazardous waste by engaging 
with government departments local authorities and the 
regulators we promote the industry and modernisation 
of the sector seeking to establish a positive regulatory 
and policy framework for the business in previous years 
representatives from the group took a high proﬁle role in 
the development of the national policy statement nps 
for hazardous waste directly engaging with government 
departments and giving evidence at the parliamentary 
select committee inquiry the publication of the nps 
shows augean to be strongly aligned with the direction of 
national policy the company continues to engage on key 
policy development and is currently taking an active role in 
the forthcoming norm strategy
employees
the group’s employees are vital to its success and 
during the year made a signiﬁcant contribution to the 
performance improvements outlined in this report in 
recognition of their commitment and effort the board 
approved a 20 pay award for all management and staff 
from 1 january 2014 this award seeks to balance the 
inﬂationary pressures on costs of living with the need for 
the group to maintain discipline on cost management but 
also recognises the progress made by the business over 
the past year which would not have been possible without 
the commitment and hard work of every employee 30
wwwaugeanplccom stock code aug
corporate social responsibility  
csr performance continued
the group is committed to the principle of equal 
opportunity in employment and to creating a harmonious 
working environment which is free from harassment and 
bullying and in which every employee is treated with 
respect and dignity accordingly well established policies 
are in place to ensure that recruitment selection training 
development and promotion procedures result in no job 
applicant or employee receiving less favourable treatment 
on the grounds of race colour nationality ethnic or 
national origin religion or belief disability trade union 
membership or nonmembership sex sexual orientation 
marital status age or status as a parttime or ﬁxed
term employee the group’s objective is to ensure that 
individuals are selected promoted and otherwise treated 
solely on the basis of their relevant aptitudes skills and 
abilities 
these equal opportunity policies are set out in the group’s 
employee handbook a of copy of which is provided to 
each employee on joining the group and made available 
electronically the handbook is updated periodically 
for changes in policy and regulations the group also 
operates a clear whistleblowing policy providing every 
employee the opportunity to raise concerns directly with 
a nominated director without the intervention of line 
management once an issue is reported the nominated 
director is required to undertake a thorough investigation 
and make recommendations 
in order to provide a formal recorded regular  
review of an individual’s performance and a plan for 
future development all staff undertake an annual or 
biannual performance appraisal with their line manager 
appraisals assist in the development of individuals and 
establish individual training needs improve organisational 
performance and feed into business planning where 
appropriate the appraisal process establishes speciﬁc 
training plans for each individual
training and development activity during the year built 
on the progress made during 2012 and investment was 
made to ensure that all employees had the knowledge 
qualiﬁcations and skills to operate safely and compliantly 
within their speciﬁc role and in the broader waste 
management sector a competency framework developed 
for each role is now used in the recruitment of new 
employees and also as the basis of a rolling training 
programme  31
strategic report strategic report
our performance
augean plc annual report and accounts for the year ended 31 december 2013
to support commitment to health and safety 
improvements reporting of near miss incidents continued 
to be a key part of the health and safety programme 
during the year supplemented with safe act reporting 
designed to applaud and encourage safe working 
practice over 2200 near misses and 250 safe acts were 
reported during 2013 achieving the target of one report 
per employee per month and at the same time there was 
a 25 reduction from the previous year in the number 
of accidents causing injury to a person or damage to 
property 
the community
augean recognises the important role that it has within 
local communities and aims to maintain an open dialogue 
with its neighbours about its activities and plans this is 
achieved through regular liaison committees newsletters 
and open days the establishment of new businesses 
changes in the waste streams managed and active 
planning processes during the year led to a high level of 
interaction with local communities in some areas as in 
previous years the group maintained a programme of 
consultation in these localities to ensure that its plans 
were well known and understood this included attending 
liaison meetings and hosting open days at sites in 
addition to the more formal submissions to planning 
authorities 
the group continued to contribute to the communities 
around its landﬁll sites through the landﬁll tax credit 
scheme a total of £359000 was contributed through this 
scheme during the year providing funds for community 
projects including a sports centre and a wildlife reserve
charitable donations made during the year included 
ongoing support for the underground youth club at 
kings cliffe the cannock chase community centre 
local sports teams and the john clare cottage project in 
helpston near peterborough “the continuing operations 
delivered a 19 increase to 
revenue of £435m”
richard allen
finance director
the review of ﬁnancial performance includes the results 
from the continuing and discontinued operations of the 
group where appropriate these have been combined to 
indicate the results for the entire business and as such are 
therefore consistent with full year results for 2012 and 
the interim results for 2013
trading
for the combined continuing and discontinued operations 
net revenue excluding landﬁll tax and intersegment 
trading for the year ended 31 december 2013 increased 
by 10 to £403m 2012 £368m with the inclusion 
of landﬁll tax charged to customers on which the group 
makes no margin of £68m 2012 £57m combined 
group revenues rose by 11 to £471m 2012 £424m 
the continuing operations delivered a 19 increase to 
revenue of £435m 2012 £367m
operating profit and exceptional items
operating proﬁt before exceptional items from continuing 
operations increased to £51m 2012 £46m and proﬁt 
before tax and exceptional items to £44m 2012 £39m 
for the discontinued operations an operating loss of 
£13m was recorded before charges for exceptional 
items the adjusted proﬁt before tax for the combined 
group was £32m 2012 £26m 
exceptional items included legal and professional fees 
relating to the sale of the waste network assets of £01m 
2012 £nil redundancy costs associated with the sale 
of £01m 2012 £nil and an impairment charge of £39m 
2012 £nil representing the difference between the 
carrying value of the waste network assets and goodwill 
sold and the consideration expected to be received from 
the sale at 31 december 2013 total exceptional charges 
of £42m were made during the year 
finance costs
total ﬁnance charges reﬂected the payment of interest 
on bank debt and ﬁnance leases totalling £07m 2012 
£06m this also included a £01m 2012 £01m 
unwinding of discounts on provisions 
jointly controlled entity
there was no trading during the year in the group’s 
terramundo joint venture with dec nv as a result 
terramundo delivered a minor loss of £001m 2012 
£002m relating to loan interest and depreciation 
charges the joint venture parties remain in discussions 
around the future of the venture
corporation tax
the group paid tax of £03m during the year £01m in 
respect of 2013 liabilities and £02m in respect of previous 
years a deferred tax asset of £11m 2012 £12m 
was recognised in the statement of ﬁnancial position 
the board believing that future proﬁts are probable and 
future tax liabilities will be incurred a current tax liability 
of £03m 2012 £02m was also recognised a total 
corporation tax charge of £06m was included in the 
income statement split between a charge for continuing 
operations of £10m and a credit for discontinued 
operations of £04m total 2012 £08m
capital investment
 maintenance 45
 planning 43
 development 12
32
wwwaugeanplccom stock code aug
financial review profit for the year
including exceptional charges the combined group made 
a total loss attributable to equity shareholders of £18m 
this was a reduction from the previous year 2012 
£20m driven by the losses and impairment charges from 
the discontinued operations the continuing operations 
of the group delivered improved year on year trading but 
this was impacted by movements in exceptional costs 
2013 £02m charge 2012 £03m credit resulting in 
the proﬁt from continuing operations remaining stable at 
£32m 2012 £32m
dividend
the board has recommended a dividend of 035p per 
share 2012 025p payable on or after 13 june 2014 
subject to shareholder approval at the annual general 
meeting the dividend per share has increased by 40 
from the previous year reﬂecting increased conﬁdence 
over future prospects and maintaining the board’s 
commitment to pay an annual dividend to shareholders
earnings per share
for the continuing operations the basic earnings per share 
eps adjusted to exclude the impact of exceptional 
costs were 329p 2012 286p and unadjusted eps 
were 313p 2012 320p for the combined continuing 
and discontinued group the adjusted eps was 238p 
2012 172p and unadjusted 179p 2012 197p 
the number of shares in issue at 31 december 2013 
was unchanged from 31 december 2012 at 997m 
there were 184864 outstanding share options at the end 
of the year 2012 32823 but these were considered 
antidilutive for the purpose of calculating eps and were 
therefore not included
cash flow
the group experienced a small decrease £0035m 
in earnings before interest tax depreciation and 
amortisation ebitda at £62m 2012 £63m and an 
increase in net cash generated from operations of £49m 
2012 £46m net cash used in investing activities 
increased to £70m 2012 £57m based on purchases 
of property plant and equipment including new landﬁll 
cells waste treatment assets planning and development 
activities
net debt increased to £85m at 31 december 2013 
2012 £61m which reﬂected positive underlying 
trading offset by investment in new assets and the 
underperformance of the discontinued operations as a 
result gearing net debtshareholders’ equity increased to 
18 2012 13 
the capital investment in property plant and equipment 
made by the group excluding acquisition activities 
is shown in the table below this is split between 
maintenance investment focused on upgrading existing 
facilities development investment on new activities and 
planning investment to secure permissions to operate 
33
strategic report strategic report
our performance
augean plc annual report and accounts for the year ended 31 december 2013 capital investment by division in 2013
land 
resources
£’000
oil  gas 
services
£’000
waste 
network
£’000
north sea 
services
£’000
total 
group
£’000
maintenance 1237 859 586 116 2798
development 1634 128 19 935 2716
planning  other 421 167 184 – 772
total 3292 1154 789 1051 6286
impairment reviews
under ifrs ias36 ‘impairment of assets’ an annual 
impairment review must be performed for each cash
generating unit cgu to which signiﬁcant goodwill is 
allocated and also any assets where management believe 
there may be indications of impairment to the carrying 
values for the continuing operations of the group this 
exercise has been completed and determined that no 
change is required to the carrying value of the goodwill at 
the year end date for the land resources and oil  gas 
services cgus 
for the waste network cgu which is reported as a 
discontinued operation impairment did result from 
the difference between the goodwill and asset values 
recorded in the statement of ﬁnancial position and the 
expected sale proceeds at 31 december 2013 the 
group held £21m of goodwill for this cgu and having 
determined that this was impaired the entire value was 
charged to the income statement as an exceptional item
note 9 below contains further details of the reviews 
performed and the results for each cgu
financing
the group continued to use a revolving loan facility of 
£100m supplemented by ﬁnance leases secured on 
certain plant as the sources of ﬁnancing its activities  
the facility was subject to covenants on the ratio of 
net debt to ebitda and the ratio of net debt costs to 
earnings before interest and tax ebit these covenants 
were tested at the end of each trading quarter and each 
test was achieved at the relevant dates throughout the 
year at 31 december 2013 the undrawn loan facilities 
available to the group were £15m 
key performance indicators
the plc board management board and local 
management teams regularly review the performance 
of the group as a whole and the individual divisions 
management uses a balanced scorecard of key 
performance indicators kpis to monitor progress 
towards delivery of the group’s principle targets 
as in previous years management focused on three 
priority areas in the performance of the group these 
being proﬁt generation through revenue delivery and 
asset utilisation compliance with regulations speciﬁcally 
environment agency and scottish environmental 
protection agency audit results and health  safety 
monitored through near miss incidents and the number of 
accidents incurred certain kpis are set out in the table 
below each relating to these priorities and showing the 
equivalent result for the previous year please note that 
this table excludes all waste network sites which were 
offered for sale during the year
34
wwwaugeanplccom stock code aug
financial review continued events since the end of the financial year
during the ﬁrst quarter of 2014 two signiﬁcant events 
have taken place which are expected to impact on the 
ﬁnancial condition of the group during the coming year
 sale of assets previously operated by the  
waste network division 
the business and assets based at hinckley worcester 
and rochdale were sold in two separate transactions 
during quarter one the overheads associated with 
these activities are no longer used by the group 
and those employees employed in each business 
transferred to new employers under tupe regulations 
at the completion of each sale
 reﬁnancing of the group’s loan facilities 
during march 2014 the group undertook reﬁnancing 
of the loan facilities used during 2013 the group now 
has access to £150m of loan facilities with hsbc 
bank plc which is expected to provide the required 
funds to support further growth of the business over 
the next four years
divisional kpi performance in 2013 
key performance indicators
land resources oil  gas services augean north sea services
2013 2012 2013 2012 2013 2012
6
net revenues profit £152m £157m £96m £111m £93m £34m
volumes to landfill profit 295472 tn 320392 tn – – – –
utilisation rate
1
profit – – 70 52 – –
volumes handled
2
profit – – – – 29657 tn 9339 tn
compliance scores
3
compliance b c aexcellent bexcellent excellent na
number of accidents
4
safety 17 15 7 22 3 0
near misses reported
5
safety 732 727 818 835 343 100
1 
deﬁned as the total actual throughput of waste at the site in the year compared with the theoretical maximum throughput for ogs
2 
deﬁned as the total tonnes of drill cuttings and slops processed by anss
3 
deﬁned as the average of audit scores notiﬁed during the year by the ea in england or sepa in scotland
4 
accidents deﬁned as all accidents including those resulting in damage to plant or equipment
5 
shows the total number of incidents recorded which could have resulted in an accident or injury or damage to property 
6 
anss results for 2012 relate to the period from june to december only
35
strategic report strategic report
our performance
augean plc annual report and accounts for the year ended 31 december 2013 36
wwwaugeanplccom stock code aug
how the business manages risk
risk description
environmental legislation
regulation is a key driver of the hazardous waste market changes in legislation including tax legislation with environmental 
goals or its interpretation can have a signiﬁcant and far reaching impact on waste markets
the application of the waste hierarchy to the markets in which the group operates with its focus on reducing the 
volume of waste disposed to landﬁll could be perceived as a threat to the business in the long term
environmental compliance
all operating sites and activities are regulated by environmental authorities in line with the requirements set out within 
licences and permits these licences and permits are required to carry on the business of the group and compliance 
with their terms is essential to its success withdrawal or temporary suspension could have a signiﬁcant impact on 
the group’s ability to operate adherence to the highest environmental standards is also important to ensure the 
maintenance of good relations with local communities and to satisfy customers that the techniques practices and 
procedures adopted by the group are consistent with those of a responsible business
health and safety
the activities of the group involve a range of health and safety risks from offshore operations to the handling of 
hazardous wastes health and safety is the ﬁrst priority for all directors managers and employees across the group 
and investments in relevant assets and resources are made on an ongoing basis to ensure that the highest health and 
safety standards are applied
price risk
price pressure remains a key feature of the hazardous waste market where customers often have a range of options 
for the ultimate disposal of their wastes and access to several companies competing to service their needs
the performance of the business is linked to economic 
activity in the waste markets it serves including the 
manufacturing construction nuclear decommissioning 
energy from waste and oil  gas sectors fluctuations in 
the uk economy in general and these sectors in particular 
affect group performance as do inﬂationary and other 
cost pressures risks are mitigated by diversifying 
the customer base and by linking gate fees wherever 
possible to prevailing operating costs and commodity 
prices including the costs of waste disposal outside of 
the group in addition to this general economic risk there 
are a number of risks speciﬁc to the markets served by 
the group which may have a material impact on activities 
and results
the group uses a range of resources to manage and 
mitigate its risks including the adoption of a broad  
range of internal controls the use of risk registers and 
regular reporting monitoring and feedback of risks 
through the business  lorem ipsum dolor sit amet 
consectetur adipiscing elit 
curabitur scelerisque non 
velit et interdum
37
strategic report strategic report
our performance
augean plc annual report and accounts for the year ended 31 december 2013
mitigation change in year
the group endeavours to mitigate this risk by employing high 
quality technical management to interpret the evolving legislative 
framework and its potential and current impact on the group’s 
operations in addition the group maintains a presence on a 
number of industry groups to inﬂuence the shaping of policy and 
liaises regularly with relevant regulators and legislative bodies 
including defra decc the ea and sepa
declining landﬁll volumes can be addressed by developing 
treatment solutions for customers which utilise landﬁll when this 
is the most appropriate commercial and environmental solution 
but provide alternative approaches whenever they are suitable 
investment in new waste treatment capacity at enrmf and 
port clarence sites broadened the group’s range of waste 
treatment solutions 
the mix of activities is progressively being rebalanced away 
from landﬁll disposal by using the same assets to provide 
secure disposal solutions for customers producing air control 
pollution residues and low level radioactive wastes 
 
the group mitigates this risk through the employment of 
technical experts by working to wellestablished policies and 
procedures described in its integrated management system 
ims through the provision of training to develop the knowledge 
and competence of its staff and through regular monitoring and 
review of compliance performance 
further details of how the group monitors and controls 
environmental compliance are given in the group’s corporate 
social responsibility csr report
the ims was rolled out to sites not previously included in 
framework during 2013 including north sea and industrial 
services activities
the competence of all staff was assessed against a new 
competency framework and training was provided to ensure 
every employee achieved the required standards
health and safety performance is constantly monitored and 
reviewed including formal reviews at each plc board meeting 
and monthly reviews by the group’s management board this 
allows the lessons learnt from incidents to be fed back to local 
teams to avoid repeat situations 
the total number of accidents including those involving 
damage to property and plant fell by 25 from the previous 
year
a new scrutiny committee was established by the board 
to provide regular independent reviews of health and safety 
performance by a nonexecutive director
the group reviews its pricing policies on an ongoing basis 
aimingto stabilise the market whilst responding to emerging 
trends and customer needs as part of the group’s established 
sales infrastructure specialist roles exist to assess and price 
waste consignments in line with market rates and available 
disposal solutions all services are kept under review to ensure 
that price changes in the market do not lead to uneconomic 
activities being undertaken by the group
at a macro level prices were stable across the hazardous 
waste market during 2013
the group reduced its exposure to pricing movements 
through the closure of the waste network division which was 
reliant on ‘spot market’ trading   38
wwwaugeanplccom stock code aug
how the business manages risk
risk description
economic growth
the group relies on economic activity in the uk which in turn leads to production of the hazardous wastes which 
form the basis of its sales revenues downturns in the uk economy have restricted the quantum of hazardous wastes 
produced and therefore constrained the group’s revenues
north sea oil and gas investment
with a wellestablished business focused on providing waste management services to north sea oil and gas 
operators the group has some exposure to any fall in investment for oil and gas exploration activity in the north sea 
this may in turn reduce the quantum of waste available for management by anss
transport disruption
the group relies on the delivery of wastes to its sites to secure revenues and any disruption to local or national 
networks for example in severe weather conditions can cause delays or lost revenue for the group
tax legislation
the use of tax legislation to drive environmental objectives particularly the diversion of wastes away from landﬁll 
disposal and towards greater treatment and recycling represents a long term risk the escalation of landﬁll tax by  
£8tonne in each year up to 2014 may encourage some customers to divert volumes away from our sites the full rate 
of landﬁll tax will rise to £80tonne on 1 april 2014 whilst european and national legislation encourages ‘zero landﬁl’ 
solutions for a range of waste streams disposal in properly engineered and permitted landﬁlls continues to be the 
most appropriate waste management solution for many hazardous wastes 39
strategic report strategic report
our performance
augean plc annual report and accounts for the year ended 31 december 2013
mitigation change in year
these macroeconomic conditions are mitigated in part by 
following a strategy of developing positions in a range of 
markets requiring specialist waste management capabilities and 
which have high barriers to entry the group also continues to 
identify and invest in the techniques assets and resources to 
provide a broad range of services to customers diversifying the 
revenue base of the group
the group is well established in a number of growing 
sectors within the broader hazardous waste market 
including air pollution control residues from energy from 
waste incinerators and low level radioactive waste disposal
improving economic conditions in the uk have contributed 
to a stabilisation of hazardous waste markets with waste 
arisings remaining at approximately 4 million tonnes per 
annum
to mitigate this risk our north sea activities are diversiﬁed 
across a number of revenuegenerating streams with services 
provided to customers offshore and onshore the future growth 
of north sea decommissioning volumes will provide new market 
opportunities for anss that will be a further mitigation
investment in the north sea reached record levels during 
2013 at £14 billion government support for the sector 
remains strong
the decommissioning market remains smallscale but 
several projects are known to be at the planning stages
mitigation is provided as far as possible through the use of its 
own ﬂeet of vehicles and the ability to accept wastes into sites 
in different geographical locations before onward transfer to their 
ﬁnal treatment or disposal destinations
there were no new developments during the year
to mitigate the risk that the group will suffer a decline of landﬁll 
volumes as environmental taxes rise the group has developed 
a range of waste treatment solutions for customers and also 
broadened its capabilities to ensure its landﬁll sites are able to 
accept all those wastes which do require landﬁll disposal
the uk government announced in the budget 2014 that 
the tax rates would not be reduced in the medium term and 
near term future increases will be based on the retail price 
index
outlook
following the changes made during 2013 the board 
believes that the group is well placed to beneﬁt 
from the signiﬁcant investment it has undertaken in 
new businesses and assets the sale and closure of 
underperforming activities and any increase in the volume 
of waste management activity backed by a general uk 
economic recovery the group is well positioned in a 
number of key waste markets including hazardous waste 
treatment and disposal apcr management low level 
radioactive waste disposal and north sea oil and gas 
with improving underlying performance across the entire 
group and the beneﬁts of lower overhead costs 
the board expects further growth in underlying ebitda 
operating proﬁt and cash ﬂows during the year the newly 
developed strategy for the business focused on key 
markets and a more serviceled approach to customers 
is expected to provide opportunities to deliver a material 
improvement to adjusted proﬁt before tax over the 
previous year
dr stewart davies 
chief executive ofﬁcer 
25 march 2014 the directors present their report and the audited ﬁnancial 
statements for the year ended 31 december 2013
principal activity and business review
the principal activity of the group is the provision of 
hazardous waste management services these services 
include waste treatment recovery recycling and secure 
disposal the group operates solely within the united 
kingdom
the strategic report provides a review of the business of 
the group together with an indication of future prospects 
results and dividends
the combined continuing and discontinued operations 
loss after tax for the year was £17m 2012 £20m proﬁt 
from turnover of £471m 2012 £424m the proﬁt 
included exceptional nonrecurring items of £42m 2012 
credit of £02m the majority of which was attributed to 
discontinued operations which are now disposed
the board has recommended a dividend for the year of 
035p per ordinary share to be paid on or after 12 june 
2014 for shareholders on the register at 5 june 2014 
2012 025p
environmental policy
the quality of the environment is at the core of the 
group’s operations and the board recognises its 
importance to employees customers suppliers and 
the communities in which the group operates augean 
continues to adopt high standards of environmental 
practice and aims to minimise its impact on the 
environment wherever possible and to support this 
publishes a clear environmental policy which is updated 
every twelve months further details of the group’s 
actions in this area can be found in the separately 
published csr report
management of risks
the group has developed procedures for the 
management of risks relating to price credit liquidity and 
cash ﬂow further details of these are included in note 26 
to the ﬁnancial statements
employees
the group’s policy is to ensure the adequate provision 
for the health safety and welfare of its employees and of 
other people who may be affected by its activities health 
and safety is the ﬁrst priority of the group and to support 
this all accidents are reported and thoroughly investigated 
and all employees are encouraged to contribute to 
reporting of ‘near miss’ incidents and ‘safe acts’ to 
promote greater awareness and therefore accident 
reduction 
the success of the group depends on the skill and 
motivation of its workforce and it is the group’s policy 
to ensure close consultation with employees on matters 
of concern to them regular newsletters and brieﬁngs 
are provided to employees and announcements and 
notices are provided on the group’s intranet website 
and also directly through regular team brieﬁngs the 
group produces a monthly ‘augean update’ newsletter 
available to all employees which sets out a summary of 
the performance of the group and the key activities taking 
place at each site
the group aims to recruit and retain people with the 
appropriate skills and behaviours to fully contribute to 
the future success of the business all new employees 
are provided with an appropriate induction ensuring that 
they have the knowledge required to perform their role 
and ongoing training is provided to ensure that skills and 
experience are kept up to date
the group encourages the employment of disabled 
persons wherever this is practicable the group has a 
clear policy on employment of disabled persons and 
ensures that disabled employees and those who become 
disabled whilst in the group’s employment beneﬁt from 
training and career development programmes in common 
with all employees please see the csr section for more 
details
40
wwwaugeanplccom stock code aug
directors’ report in the event that changes are required to the operations 
or structure of the group including closure or sale 
of businesses the company has well established 
procedures for consultation with individuals and where 
required groups of employees consultation involves 
clear ongoing communication of factors affecting 
individuals and teams regular consultation meetings with 
line management and internally published announcements 
of signiﬁcant decisions and updates
all employees are included in bonus or incentive schemes 
designed to align the group’s priorities in safety regulatory 
compliance and proﬁt generation to the rewards available 
to individuals monthly and annual bonuses are made 
available certain senior employees are also eligible to 
join the company’s share options scheme and long 
term incentive pan aligning personal performance 
with strategic plans and targets and ensuring that 
management is incentivised to deliver improving returns 
for shareholders
charitable and political donations
during the year the group contributed £359000 
2012 £298000 of its landﬁll tax liability to registered 
environmental bodies as permitted by government 
regulations no political donations were made during the 
year 2012 £nil 
directors
the composition of the board of directors is shown 
on page 46 details of the directors’ interests and 
remuneration are given in the directors’ remuneration 
report on pages 54 to 56 as previously reported dr 
stewart davies was appointed as chief executive ofﬁcer 
with effect from 12 august 2013 and offers himself for 
election to the board at the annual general meeting on 
17 february 2014 the group announced that the group 
finance director richard allen would be leaving the 
group mr allen will resign from the board at the annual 
general meeting
41
strategic report strategic report
augean plc annual report and accounts for the year ended 31 december 2013
directors’ report substantial shareholdings
the number of shares issued by the company remained unchanged during the year at 99699414 the company had 
been notiﬁed of the following interests of more than 3 in its shares as at 3 march 2014
number
of shares
 of 
total
ingot capital management 19764442 1982
cazenove capital management 19534000 1959
henderson global investors 9186134 921
ubs ag london branch 8983154 901
j o hambro capital management 5581000 560
unicorn asset management 3173431 318
corporate governance
a separate corporate governance report follows this 
directors’ report
qualifying third party indemnity provisions as deﬁned 
in companies act 2006 have been entered into by the 
company for the beneﬁt of all directors which indemnify 
the directors against third party claims brought against 
them in their capacity as directors of the company to the 
extent permitted by law and such provisions continue in 
force at the date of this report
contact with investors
all shareholders have access to the interim and annual 
reports and are invited to attend the annual general 
meeting at which all board directors are present the 
group periodically hosts presentations at its sites for the 
investor community and provides detailed information for 
shareholders and the general public on its website  
wwwaugeanplccom
going concern
the group’s business activities together with the factors 
likely to affect its future development performance and 
position are set out in the strategic report details of the 
group’s ﬁnancial position cash ﬂows liquidity position 
and borrowing facilities are included in the ﬁnancial review 
section and further information on the group’s ﬁnancial 
risks and their management is given in note 26 to the 
ﬁnancial statements on page 97
as highlighted in note 26 the group met its short term 
working capital requirements during 2013 through an 
overdraft and revolving loan facility with hsbc bank plc 
the facility which was due for renewal on 2 march 2015 
this facility was renewed and increased with hsbc on 
7th march 2014 providing access to a new overdraft 
term loan and revolving loan facility for an extended period 
to july 2017 the new facility the new facility provides 
debt funding to the group of up to £150m an increase 
from the £100m previously available and is subject to 
42
wwwaugeanplccom stock code aug
directors’ report continued certain covenants focused on the cover of interest costs 
and the ratio of net debt to ebitda cash ﬂow forecasts 
for the twelve months from the date of approval of the 
ﬁnancial statements indicate the group’s ability to operate 
within these covenants
during 2013 the group continued to demonstrate its ability 
to generate cash ﬂow from operating activities the single 
greatest inﬂuence on free cash ﬂow over recent years has 
been the level of capital investment required to maintain 
and develop the group’s asset base the group retains 
some discretion over the nature and timing of signiﬁcant 
capital expenditure allowing future liquidity to be managed 
with the only exception to this being the need to engineer 
new landﬁll cells as available void space nears exhaustion 
cell engineering is aligned with cash ﬂows through a 
comprehensive capital planning processes other capital 
expenditure includes that needed to maintain the existing 
asset base and that deployed in the development of 
the group’s businesses the table on page 54 shows 
expenditure during 2013 in each of these categories 
given the discretion available the board remains conﬁdent 
that capital expenditure can be controlled and cash 
generation can be expected in the future
impairment reviews have been performed for each of 
the group’s cashgenerating units the details of which 
are disclosed in note 10 to the ﬁnancial statements in 
addition the tangible asset base of the group has been 
reviewed for impairment the results of these reviews 
indicate that no impairment is required and demonstrate 
the group’s ability to continue operating in its current 
structure and form for the foreseeable future
financial forecasts and projections taking account of 
reasonably possible changes in trading performance 
and the market value of the group’s assets have been 
prepared and show that the group is expected to be 
able to operate within the level of the new facility both 
for ongoing working capital funding and any capital 
investment expenditure during the life of the facility 
having considered the items set out above and after 
making further enquiries the directors have a reasonable 
expectation that the company and the group have 
adequate resources to continue in operational existence 
for the foreseeable future the directors are conﬁdent that
the company will be able to meet its liabilities as they fall 
due over the next twelve months as a result the ﬁnancial 
statements have been prepared on a going concern 
basis
directors’ responsibilities statement
the directors are responsible for preparing the annual 
report and the ﬁnancial statements in accordance with 
applicable law and regulations
company law requires the directors to prepare ﬁnancial 
statements for each ﬁnancial year under that law the 
directors have prepared group ﬁnancial statements 
and elected to prepare the parent company ﬁnancial 
statements in accordance with international financial 
reporting standards as adopted by the european 
union ifrss under company law the directors must 
not approve the ﬁnancial statements unless they are 
satisﬁed that they give a true and fair view of the state of 
affairs and proﬁt or loss of the company and group for 
that period in preparing these ﬁnancial statements the 
directors are required to
 select suitable accounting policies and then apply 
them consistently
 make judgements and accounting estimates that are 
reasonable and prudent
 state whether applicable ifrss have been followed 
subject to any material departures disclosed and 
explained in the ﬁnancial statements and
 prepare the ﬁnancial statements on the going concern 
basis unless it is inappropriate to assume that the 
company will continue in business 
the directors are responsible for keeping adequate 
accounting records that are sufﬁcient to show and 
explain the company’s transactions and disclose with 
reasonable accuracy at any time the ﬁnancial position 
of the company and group and enable them to ensure 
that the ﬁnancial statements comply with the companies 
act 2006 they are also responsible for safeguarding the 
assets of the company and group and hence for taking 
reasonable steps for the prevention and detection of fraud 
and other irregularities
43
strategic report strategic report
augean plc annual report and accounts for the year ended 31 december 2013
directors’ report in so far as each of the directors is aware 
 there is no relevant audit information of which the 
company’s auditor is unaware and
 the directors have taken all steps that they ought to 
have taken to make themselves aware of any relevant 
audit information and to establish that the auditor is 
aware of that information 
the directors are responsible for the maintenance 
and integrity of the corporate and ﬁnancial information 
included on the company’s website legislation in 
the united kingdom governing the preparation and 
dissemination of ﬁnancial statements may differ from 
legislation in other jurisdictions 
audit partner rotation
the external auditor is required to rotate the lead 
partner responsible for the group audit every ﬁve 
years in accordance with ethical standard 3 es3 
“long association with the audit engagement” issued 
by the auditing practices board however in certain 
circumstances it is permissible to extend that time the 
current lead partner andrew wood had been responsible 
for the audit for six years but the board believed that it 
was not a suitable time to change to a new audit partner 
with the resignation of the group finance director and 
the appointment of a new chief executive ofﬁcer within 
the past twelve months as well as the sale of a business 
division signiﬁcant changes have only recently occurred 
in the group
with the group in a transitional phase the incumbent 
partner’s experience and understanding of the business 
was essential to ensure that appropriate robust challenge 
was made of management’s estimates and judgements 
in the preparation of the ﬁnancial statements from a 
position of knowledge as a result the board and audit 
committee believed that a rotation should not be made 
during the ﬁnancial year and the company agreed to 
extend the term of the lead audit partner for one year in 
accordance with es3 this will be the ﬁnal year that the 
current lead audit partner will remain eligible for the role 
and he will be replaced prior to the publication of the 
interim results in september 2014
auditor
grant thornton uk llp has expressed willingness to 
continue in ofﬁce in accordance with section 4894 of 
the companies act 2006 a resolution to reappoint grant 
thornton uk llp will be proposed at the annual general 
meeting
annual general meeting
at the annual general meeting agm on 5 june 2014 
jim meredith will retire by rotation in accordance with the 
articles of association being eligible he will offer himself 
for reelection as a nonexecutive director and chairman 
of the board dr stewart davies joined the company and 
was appointed to the board on 12 august 2013 being 
eligible he will offer himself for election as an executive 
director at the agm richard allen will resign from the 
board and not seek reelection at the agm in order to 
take up a new role outside of the company no director 
has a contract with an unexpired notice period of more 
than twelve months
by order of the board
dr stewart davies 
chief executive ofﬁcer 
25 march 2014
44
wwwaugeanplccom stock code aug
directors’ report continued board of directors 46
chairman’s governance introduction letter 48
corporate governance 49
audit committee report 51
nomination committee report 52
remuneration committee report 53
directors’ remuneration report 54
see “what’s inside”
45
augean plc annual report and accounts for the year ended 31 december 2013
our governance jim meredith
chairman and nonexecutive director
 
age 53
jim is currently chief executive ofﬁcer 
of scaid capital a manufacturer of 
holiday homes and modular housing 
he has signiﬁcant experience of the 
waste industry having held several 
senior roles within the sector jim 
was formerly chief executive of 
fcc’s uk asset base with revenues 
of approximately £700m180 
active business units and 2400 
employees following their acquisition 
in 2006 of waste recycling group 
wrg the uk’s largest landﬁll and 
waste disposal business which 
also provides services to the 
decommissioning markets he had 
previously worked with terrafirma 
capital partners tfcp during the 
acquisition of wrg in 2003 prior to 
tfcp jim was an executive director 
of shanks plc 
he was appointed to the board 
of augean in december 2010 and 
became chairman on 8 june 2012
dr stewart davies
executive director and  
chief executive officer
age 53
 
stewart joined augean in august 
2013 from romec ltd where he 
was managing director for three 
years prior to this stewart held 
managing director roles at serco 
rugby cement and corus following 
ten years at ici in operations 
commercial and strategy roles he 
studied natural sciences physics 
and then a phd in materials science 
at the university of cambridge 
and is a fellow of the institute of 
physics since 2009 stewart has 
been a governing board member 
of the technology strategy board 
the uk’s national innovation agency 
which aims to accelerate economic 
growth by stimulating and supporting 
businessled innovation
he was appointed to the board and 
became chief executive ofﬁcer on  
12 august 2013 
richard allen
executive director and  
group finance director 
age 43
 
richard joined augean and was 
appointed to the board in september 
2010 as group finance director from 
kelda holdings the ultimate owner 
of yorkshire water and a number of 
waterrelated businesses richard 
held a number of senior ﬁnance roles 
at kelda latterly as interim group 
ﬁnance director prior to kelda he 
spent ten years with the nestlé sa 
group and before leaving was ﬁnance 
director of nestlé ireland based in 
dublin during 2013 richard was 
appointed as interim chief executive 
ofﬁcer holding that position until 
august 
richard has informed the board he 
intends to resign from the board at 
the agm in june 2014 in order to 
take up a new role outside of the 
group 
46
wwwaugeanplccom stock code aug
board of directors andrew bryce
nonexecutive director and chairman 
of the nominations committee
age 66
 
andrew has had a long career 
in environmental law in the uk 
and currently runs his own law 
ﬁrm andrew bryce  co which 
specialises in regulatory defence and 
board level advice on environmental 
management strategy and liability 
issues he was previously an equity 
partner and head of environmental 
services at city law ﬁrm cameron 
markby hewitt now part of cms 
cameron mckenna he has held the 
chairmanship of the united kingdom 
environmental law association of 
which he is an honorary life member 
he was appointed to the board of 
augean in june 2005 and most 
recently took on the chair of the 
board’s health and safety scrutiny 
committee providing independent 
oversight of the group’s health and 
safety performance 
rory macnamara
nonexecutive director and chairman 
of the audit committee
age 59
 
rory is a chartered accountant 
with a wide range of corporate 
ﬁnance transaction experience he 
was previously head of mergers 
and acquisitions at deutsche 
morgan grenfell and then became 
a managing director at lehman 
brothers he is chairman of mecom 
group plc essenden plc and 
dragonukrainian properties  
development plc rory also holds 
a number of directorships in private 
and listed businesses including 
mears group plc and dunedin 
income growth investment trust plc 
he was appointed to the board of 
augean in november 2006 
roger mcdowell
nonexecutive director and chairman 
of the remuneration committee
age 58
 
roger is currently chairman of alkane 
plc a role he has held since 2012 
and since 2008 of avingtrans plc 
where for a short period he also 
became interim chief executive in 
2013 he was appointed as senior 
independent director of servelec 
group prior to its ﬂotation on the 
main market in december 2013 also 
in 2013 as chairman of ultimate 
finance group he presided over the 
reverse of the business into a cash 
shell renovo group plc where he 
is now senior independent director 
his other current nonexecutive 
roles include is solutions plc since 
2008 and swallowﬁeld plc since 
2012 where he is chairman of the 
remuneration committee and a 
member of the audit and nomination 
committees
he was appointed to the board of 
augean in 2004 acting as interim 
chief executive ofﬁcer during 2006
2007 and interim chairman from  
23 march 2010 until 8 june 2012
47
directors’ report
augean plc annual report and accounts for the year ended 31 december 2013
our governance “the board remains focused on 
corporate governance which 
delivers compliancewhilst 
enhancing performance”
jim meredith
nonexecutive chairman
i am pleased to introduce the corporate governance 
section of our report
augean is committed to high standards of corporate 
governance in all its activities the company does not 
comply with the uk corporate governance code 
however the board recognises the value of the code and 
has regard to its requirements as far as is practicable and 
appropriate for a public company of its size and nature 
the board regularly reviews guidance from regulatory 
bodies supported by its nominated advisor and 
responds as appropriate
as a business listed on the london stock exchange and 
operating in markets based on regulatory frameworks 
the group is familiar with the beneﬁts and challenges 
associated with maintaining strong and effective 
governance in this regard the board remains focused 
on the need for a system of corporate governance which 
delivers compliance with regulation whilst enhancing the 
performance of the group this includes recognising 
the need to manage and mitigate the risks faced by the 
business across all of its activities 
each of the board’s standing committees audit 
remuneration and nomination were active during the 
year a report from each committee chairman follows 
and i am grateful to each for their diligence and skill in 
continuing to ensure that the board plays an effective role 
in the proper management of the company and the wider 
group 
as chairman one of my principal concerns is to maintain 
excellent relationships with our shareholders and 
during the year i made myself available to shareholders 
to discuss strategy and governance matters as well 
as attending meetings during march to support the 
presentation of the 2012 results the board has an active 
investor relations programme and believes in maintaining 
good communication with all stakeholders including 
institutional and private shareholders analysts and the 
press this includes making the executive directors 
available to meet with institutional shareholders and 
analysts following the announcement of interim and ﬁnal 
results the board receives feedback from these meetings 
and uses this to reﬁne its approach to investor relations 
i look forward to meeting shareholders and other 
stakeholders during the year ahead in the meantime 
further information is available from the group’s website at 
wwwaugeanplccom
jim meredith
nonexecutive chairman
25 march 2014
48
wwwaugeanplccom stock code aug
chairman’s governance introduction letter the board meets  
at least eight times  
a year
the board currently comprises a nonexecutive chairman 
three further independent nonexecutive directors chief 
executive ofﬁcer and a group ﬁnance director a senior 
independent director has not been appointed as given 
the size and nature of the company the directors do 
not believe that such an appointment is necessary the 
chairman has primary responsibility for running the board 
and its effectiveness and the chief executive ofﬁcer is 
responsible for developing strategic plans and initiatives 
for consideration by the board and for their operational 
delivery the nonexecutive directors bring a variety of 
different experience to the board are considered to be 
independent of management and ensure that rigour is 
applied to board decisions 
the composition of the board is reviewed regularly 
appropriate training brieﬁngs and inductions are available 
to all directors on appointment and subsequently as 
necessary taking into account existing qualiﬁcations 
and experience all directors have access to the advice 
and services of the group’s company secretarial partner 
addleshaw goddard llp and any director may take 
independent professional advice if necessary at the 
company’s expense the board meets formally at least 
eight times a year but additional meetings are held to 
review and approve special matters if necessary 
each director is provided with sufﬁcient timely information 
to enable full consideration of matters in advance of 
meetings and proper discharge of duties there is a 
formal schedule of matters reserved for the board 
which includes published ﬁnancial statements strategy 
acquisitions and disposals signiﬁcant capital projects 
annual budgets and loan facilities under the company’s 
articles of association one third of all directors is required 
to retire from ofﬁce at each annual general meeting agm
and may stand for reappointment by shareholders each 
year additionally each director is required to retire in the 
third calendar year following his last appointment and may 
stand for reelection any director appointed to the board 
during the year is subject to election by shareholders at 
the following agm 
key topics of board business during 2013
reserved matter key considerations
financial statements the board reviewed and 
apporved the report and 
accounts for 2012 the 
interim report for 2013 and 
asscoiated trading updates 
prior to publication
strategy   
management
regular updates were provided 
during the early stages of the 
review of strategy by the chief 
executive ofﬁcer
acquisitions and dispposals the closure and sale of the 
waste network division 
was apporved by the board 
prior to announcement with 
regular updates provided 
thereafter each subsequent 
sale transaction received board 
approval 
annual budgets and 
forecasts
the budget for 2014 was 
approved by the board in 
december 2013 throughout 
the year the forecast outturn 
and outlook was debated and 
challenged at each meeting
loan facilities the board considered a 
proposal to renew and extend 
the group’s loan facilties at its 
meeting in december approving 
the new facilities provided by 
hsbc bank plc
investor relations the board actively engaged with 
major shareholders during the 
year in particualar prior to the 
appointment of the new chief 
executive ofﬁcer and following 
results annoucements
49
directors’ report
augean plc annual report and accounts for the year ended 31 december 2013
our governance
corporate governance with effect from 1 october 2008 the companies act 
2006 introduced a statutory duty on directors to avoid 
conﬂicts of interest shareholders approved new articles 
of association at the 2008 agm giving directors authority 
to approve situations involving any such conﬂicts and to 
allow conﬂicts of interest to be dealt with by the board 
all directors are required to notify the company on an 
ongoing basis of their other commitments and these are 
held by the company secretary and reviewed annually by 
the company’s auditors the company has established 
procedures for ensuring that the board’s powers for 
authorising director’s conﬂicts of interest are operated 
effectively 
the board has overall responsibility for the group’s 
system of internal control and for reviewing its 
effectiveness while the role of management through the 
management board is to implement board policies on 
risk management and control the day to day activities 
of the group are managed by the chief executive ofﬁcer 
through the management board whose membership 
includes the chief executive group ﬁnance director and 
every director of the group’s subsidiary companies the 
management board meets formally three times each 
month and maintains regular dialogue between these 
meetings 
the management board regularly reviews the control 
environment of the group and is responsible for 
managing and mitigating commercial operational safety 
compliance and ﬁnancial risks this system is designed 
to provide reasonable but not absolute assurance against 
material misstatement or loss 
the group operates a series of controls to meet its 
needs key features of the control system include the 
following 
 maintenance of an operational risk register covering 
the key health and safety regulatory and operating 
risks faced by the group 
 maintenance of a register of the major ﬁnancial risks 
faced by the group 
 monthly reviews of business risks affecting the group 
identifying procedures and action required to manage 
and mitigate those risks 
 reports provided to the board at every meeting setting 
out the key risks and their management 
 a clearly deﬁned organisational structure with terms of 
reference for board committees and responsibilities 
and authorisation limits for executive and senior 
management 
 regular visits by the executive directors and senior 
management to operating locations to meet with 
local management and staff and to review business 
performance 
 regular visits by the group’s technical team to all sites 
to identify risks and propose improvements to be 
implemented by senior management this includes 
powers to stop activities if they are deemed to 
represent a danger or are inappropriate in the context 
of proper compliance
 a range of compliance management systems at the 
group’s sites subject to external review including 
certiﬁcation to iso 90012008 140012004 
180012007 and the publicly available speciﬁcation  
of common management system requirements  
pas 992006
 an annual strategic planning and budgeting process 
 reviews by senior management and the board of 
monthly ﬁnancial and operating information including 
comparisons with budgets and forecasts the group 
uses balanced scorecard reports containing key 
performance indicator targets as a mechanism for 
monitoring and managing the monthly performance of 
key operations 
 maintenance of a comprehensive insurance 
programme agreed with insurers following a detailed 
annual review of the risks faced by the group’s 
businesses
to provide an overview of the risks faced by the group 
the audit committee undertakes a sixmonthly review of a 
comprehensive corporate risk register which considers a 
broad range of risk items this takes account of the entire 
control environment and may lead to recommendations 
which are implemented through the management board
50
wwwaugeanplccom stock code aug
corporate governance summary the audit committee comprises the nonexecutive 
directors and is chaired by rory macnamara the external 
auditor and the executive directors are regularly invited to 
attend the meetings but the committee also has access 
to the external auditor’s advice without the presence of 
the executive directors the committee met on three 
separate occasions during the year
during the year the committee considered the adequacy 
and effectiveness of the risk management and control 
systems of the group and requested updates to the 
group’s corporate risk register it also reviewed the 
scope and results of the annual external audit its cost 
effectiveness and the objectivity and independence of 
the external auditor this review included a report from 
executive management and the auditor concerning the 
system of internal control and any control weaknesses 
which the committee found to be satisfactory
prior to publication the interim report the preliminary 
results announcement the annual ﬁnancial statements 
for 2012 and other information included in the annual 
report 2012 were reviewed the committee made 
recommendations on the content of each of these 
documents before recommending them to the board for 
publication 
the committee also considered and approved an 
extension of the tenure of the lead audit partner 
accepting that it was in the best interests of the group for 
mr andrew wood of grant thornton to retain that role for 
another year
the board does not believe it is currently appropriate 
to establish a separate independent internal audit 
function given the size of the group and the committee 
considered this subject during the year agreeing that no 
change was required 
“the introduction of a new corporate risk register during 
the year provided renewed focus on the key risks faced 
by the business”
chairman
rory macnamara
audit committee
members
rory macnamara
roger mcdowell
andrew bryce
jim meredith
meetings
total number of committee 
meetings 3
51
directors’ report
augean plc annual report and accounts for the year ended 31 december 2013
our governance
audit committee report the nominations committee comprises the non
executive directors and is chaired by andrew bryce it 
meets as required in order to review the structure size 
and composition of the board it is responsible for the 
selection and recommendation of suitable candidates for 
appointment to the board 
during 2013 the activities of the committee focused 
on recruitment of a new chief executive ofﬁcer the 
committee chairman worked with a recruitment 
consultant to identify suitable candidates and led the 
interview process through to the appointment of dr 
stewart davies in march
during the ﬁrst half of 2014 the committee has 
reconvened to manage the appointment of a new group 
ﬁnance director
“the committee has had a busy twelve months 
recruiting a new chief executive ofﬁcer and considering 
the requirements for a new group ﬁnance director”
chairman
andrew bryce
nomination committee
members
andrew bryce
rory macnamara
jim meredith
roger mcdowell
meetings
total number of committee 
meetings 3
52
wwwaugeanplccom stock code aug
nomination committee report the remuneration committee comprises the non
executive directors and is chaired by roger mcdowell 
the principal objective of the committee is to 
attract retain and motivate talented people with a 
competitive package of incentives and awards linked 
to group performance and aligned with the interests 
of shareholders the committee uses the services of 
independent external advisers as required 
the committee met on six occasions during 2013 with 
business including reviews of the remuneration for the 
new chief executive ofﬁcer granting of share options to 
the chief executive ofﬁcer and decisions relating to the 
salary of the interim chief executive and decisions relating 
to bonus awards the directors’ remuneration report 
includes the outcome of these considerations
during quarter 4 the committee engaged deloitte llp as 
external advisors to assist in the development of the new 
ltip  this work continued into quarter 1 of 2014 and has 
resulted in a scheme with the following attributes
 a company share options plan allowing annual 
awards of shares in the company to be made to 
participants
 a three vesting year period with annual performance 
conditions based on group performance
 performance conditions for executives based on 
targets for total shareholder returns and eps growth 
 awards ranging from 75 of salary for certain senior 
managers to 200 of salary for the chief executive 
ofﬁcer
the committee will undertake a consultation exercise with 
shareholders prior to ﬁnalising the details of the scheme 
the ﬁrst awards are expected to be granted under the 
new scheme during quarter 2 of 2014 
“the new ltip will provide a scheme which ensures that 
management incentives are closely linked to improving 
shareholder returns”
chairman
roger mcdowell
remuneration committee
members
roger mcdowell
jim meredith
rory macnamara
andrew bryce
meetings
total number of committee 
meetings 6
53
augean plc annual report and accounts for the year ended 31 december 2013
remuneration committee report
directors’ report our governance our governance nonexecutive directors
remuneration of the nonexecutive directors including 
the chairman is determined by the board as a whole 
current remuneration package
the current remuneration package of the executive 
directors comprises
i basic salaries
basic salaries for executive directors take into account 
the performance experience and responsibilities of the 
individuals concerned as well as the salaries of those 
with similar positions and responsibilities external advice 
is taken as appropriate and basic salaries are reviewed 
annually 
during 2013 no inﬂationary pay award was made to 
the executive directors the salary of the group ﬁnance 
director was amended during the period he acted 
as interim chief executive reﬂecting the increased 
responsibilities assumed as part of that role once the 
new chief executive ofﬁcer joined the group the group 
ﬁnance director’s salary returned to the same base value 
as at the start of the year
ii performance related bonus
the executive directors participate in a bonus scheme 
based on the achievement of annual proﬁt targets 
approved by the remuneration committee the 
achievement of these targets would result in a bonus of 
up to 50 of basic salary no bonus was awarded in 
respect of 2013
iii pension provision and other benefits
pension provision is made at a rate of 10 of basic 
salary for each executive director payable directly into 
a nominated pension fund other beneﬁts include a car 
allowance life assurance and private healthcare
iv long term incentive plan
under the long term incentive plan ltip senior 
employees may be granted an annual award of up to 
100 of basic salary with the chief executive ofﬁcer 
eligible for an award up to 200 of salary the award 
vests in the form of shares in the company and is 
subject to the attainment of predetermined performance 
conditions over a three year period the expected 
costs of the scheme are given in note 21 to the ﬁnancial 
statements
no ltip award was made during the year the 
remuneration committee resolved to consider making new 
awards once a renewed scheme had been developed 
as set out in the remuneration committee report the 
new chief executive ofﬁcer had become established within 
his role and the revised strategy for the group had been 
published
v share options
under the share options scheme the remuneration 
committee may annually grant options of up to 100 
of basic salary allowing participants to purchase shares 
in the company at a future date these options may be 
subject to the attainment of predetermined performance 
conditions but this is not an absolute requirement 
the remuneration committee reviewed the use of share 
options during the year and concluded that the scheme 
remained a suitable mechanism to incentivise future 
performance one award was made during 2013 being 
the award of 1 million shares to the chief executive ofﬁcer 
following his appointment to the role in august 2013 this 
award is shown in the tables below
vi service contracts
executive directors have rolling service contracts with 
notice periods of not more than twelve months
54
wwwaugeanplccom stock code aug
directors’ remuneration report directors’ interests 
the beneﬁcial family and contingent interests of the directors in the share capital of the company are shown in the 
table below
at 31 december 2013
beneficial
shares
number
share
options
number
total
shares
number
stewart davies — 1000000 1000000
richard allen 20000 603448 623448
roger mcdowell 691342 — 691342
andrew bryce 11419 — 11419
jim meredith 200000 — 200000
rory macnamara 15224 — 15224
directors’ emoluments
the emoluments of the directors during 2013 were as follows
2013
basic fee
salary
£’000
2013
bonus
£’000
2013
pension 
contributions
£’000
2013
other 
emoluments
£’000
2013
total
£’000
2012
total
£’000
paul blackler resigned 08042013 46 — 5 3 54 215
stewart davies appointed 12082013 85 — 9 5 99 —
richard allen 166 — 24 11 201 169
jim meredith 43 — — — 43 35
roger mcdowell 28 — — — 28 37
andrew bryce 30 — — 1 31 32
rory macnamara 31 — — — 31 32
 429 — 38 20 487 520
the change in basic salary for paul blackler reﬂected his resignation and departure from the company during march 
2013 and for richard allen included an enhancement to base salary during the period he acted as interim chief 
executive 
other emoluments for stewart davies paul blackler and richard allen include a car allowance and other beneﬁts such 
as medical insurance for andrew bryce they relate to specialist assistance provided to the board in connection with 
certain legal matters 
55
directors’ report
augean plc annual report and accounts for the year ended 31 december 2013
our governance directors’ share plans
ltip
award 
date
earliest 
vesting date
market price 
at award 
date
number 
of shares 
2012
granted 
in year
lapsed 
in year
number 
of shares 
2013
stewart davies — — — —
richard allen 11062012 31032013 3488p — 409000 409000 —
    —409000409000—
share option scheme
award 
date
earliest 
vesting date
market 
price at 
award date
number 
of shares 
2012
granted 
in year
lapsed 
in year
number 
of shares 
2013
paul blackler 21122009 21122012 3950p 455695 — — 455695
 18052011180520142900p620690 — —620690
stewart davies 12082013 12082016 4025p — 1000000 — 1000000
richard allen 18052011 18052014 2900p 603448 — — 603448
    16798331000000—2679833
paul blackler resigned on 8 march 2013 and was conﬁrmed as a good leaver under the rules of the company share 
option scheme retaining his rights to previously awarded shares
the latest date for exercise of all share options is ten years after the award date the mid market price of the 
company’s shares at 31 december 2013 was 4600p the range of the share price during the year was 2950p to 
4600p
on behalf of the remuneration committee 
roger mcdowell  
chairman of the remuneration committee  
25 march 2014
56
wwwaugeanplccom stock code aug
directors’ remuneration report continued independent auditors’ report 58
consolidated statement of  
comprehensive income 59
statements of financial position 60
statements of cash flow 61
statements of changes in shareholders’ equity 62
notes to the financial statements 64
see “what’s inside”
57
augean plc annual report and accounts for the year ended 31 december 2013
our financials 58
heading here
wwwaugeanplccom stock code aug
we have audited the financial statements of augean plc for the year ended 31 december 2013 which comprise the 
group statement of comprehensive income the group and parent company statement of financial position the group 
and parent company statements of cash flow the group and parent company statements of changes in shareholders’ 
equity and the related notes the financial reporting framework that has been applied in their preparation is applicable 
law and international financial reporting standards ifrss as adopted by the european union and as regards the 
parent company financial statements as applied in accordance with the provisions of the companies act 2006
this report is made solely to the company’s members as a body in accordance with chapter 3 of part 16 of the 
companies act 2006 our audit work has been undertaken so that we might state to the company’s members those 
matters we are required to state to them in an auditor’s report and for no other purpose to the fullest extent permitted 
by law we do not accept or assume responsibility to anyone other than the company and the company’s members as 
a body for our audit work for this report or for the opinions we have formed
respective responsibilities of directors and auditor
as explained more fully in the directors’ responsibilities statement set out on page 43 the directors are responsible for 
the preparation of the financial statements and for being satisfied that they give a true and fair view our responsibility 
is to audit and express an opinion on the financial statements in accordance with applicable law and international 
standards on auditing uk and ireland those standards require us to comply with the auditing practices board’s 
apb’s ethical standards for auditors
scope of the audit of the financial statements
a description of the scope of an audit of financial statements is provided on the financial reporting council’s website at 
wwwfrcorgukapbscopeprivatecfm
opinion on financial statements
in our opinion
 the financial statements give a true and fair view of the state of the group’s and of the parent company’s affairs as at 
31 december 2013 and of the group’s loss for the year then ended 
 the group financial statements have been properly prepared in accordance with ifrss as adopted by the european 
union 
 the parent company financial statements have been properly prepared in accordance with ifrss as adopted by the 
european union and as applied in accordance with the provisions of the companies act 2006 and
 the financial statements have been prepared in accordance with the requirements of the companies act 2006
opinion on other matter prescribed by the companies act 2006
in our opinion the information given in the strategic report and directors’ report for the financial year for which the 
financial statements are prepared is consistent with the financial statements
matters on which we are required to report by exception
we have nothing to report in respect of the following matters where the companies act 2006 requires us to report to 
you if in our opinion
 adequate accounting records have not been kept by the parent company or returns adequate for our audit have not 
been received from branches not visited by us or
 the parent company financial statements are not in agreement with the accounting records and returns or
 certain disclosures of directors’ remuneration specified by law are not made or
 we have not received all the information and explanations we require for our audit
andrew wood 
senior statutory auditor 
for and on behalf of grant thornton uk llp 
statutory auditor chartered accountants 
leeds 
25 march 2014
independent auditors’ report
to the members of augean plc 59
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
consolidated statement of comprehensive income
for the year ended 31 december 2013
note
before
exceptional
items
2013
£’000
exceptional
items
2013
£’000
total
2013
£’000
before
exceptional
items
1
2012
£’000
represented
exceptional
items
1
2012
£’000
represented
total
1
2012
£’000
represented
continuing operations
revenue 43488 — 43488 36694 — 36694
operating expenses 38370 227 38597 32100 239 32339
operating profit 3 5118 227 4891 4594 239 4355
net finance charges 4 674 — 674 639 — 639
gain on bargain purchase ——— — 528 528
share of loss of jointly controlled 
entity 9 13 — 13 16 — 16
profit before tax 4431 227 4204 3939 289 4228
tax 6 1040 63 977 1087 70 1017
profit from continuing 
operations 3391 164 3227 2852 359 3211
discontinued operations
loss from discontinued 
operations 15 911 3995 4906 1121 110 1231
lossprofit for the year and 
total comprehensive income 3 2480 4159 1679 1731 249 1980
lossprofit attributable to
equity shareholders of 
augean plc 2372 4159 1787 1717 249 1966
noncontrolling interest 108 — 108 14 — 14
earnings per share 
from continuing operations
basic and diluted 313p 320p
from discontinued operations
basic and diluted 492p 123p
from continuing and 
discontinued operations
basic and diluted 8 179p 197p
non ifrs measures
group turnover
2
47123 — 47123 42421 — 42421
group ebitda — — 6330 — — 6255
group profit before tax
2
3172 4270 1098 2603 158 2761
the notes on pages 64 to 104 form an integral part of these financial statements
1 
2012 result has been represented to show comparative information for operations discontinued in 2013
2 
group measures represent the sum of results for continuing and discontinued operations group company
note
2013
£’000
2012
£’000
2013
£’000
2012
£’000
noncurrent assets
goodwill 10 19602 21705 — —
other intangible assets 11 198 123 187 109
investments in subsidiaries 12 — — 57943 57631
investment in jointly controlled entity 9 5 8 512 502
property plant and equipment 13 40192 39561 788 817
deferred tax asset 6 1143 1231 104 41
61140 62628 59534 59100
current assets
inventories 296 218 — —
trade and other receivables 14 9806 8868 4755 916
current tax asset — — 136 209
cash and cash equivalents 542 5 — —
10644 9091 4891 1125
noncurrent assets classified as held for sale 15 1200 — — —
11844 9091 4891 1125
current liabilities
trade and other payables 16 9030 8279 828 9438
current tax liabilities 345 197 — — 
financial liabilities 17 114 837 7625 3260
9489 9313 8453 12698
net current assetsliabilities 2355 222 3562 11573
noncurrent liabilities
financial liabilities 17 8919 5283 8909 5175
provisions 18 6622 7045 — —
15541 12328 8909 5175
net assets 47954 50078 47063 42352
shareholders’ equity
share capital 19 9970 9970 9970 9970
share premium account 20 — — — —
special profit reserve 20 36450 32076 36450 32076
retained earnings 20 738 6913 643 306
equity attributable to owners of augean plc 47158 48959 47063 42352
noncontrolling interest 796 1119 — —
total equity 47954 50078 47063 42352
the notes on pages 64 to 104 form an integral part of these financial statements
the financial statements were approved by the board on 25 march 2014 and signed on its behalf by
richard allen 
group finance director
augean plc registered number 5199719
60
wwwaugeanplccom stock code aug
statements of financial position
for the year ended 31 december 2013 group company
note
2013
£’000
2012
£’000
2013
£’000
2012
£’000
operating activities
cash generated fromused in operations 23 5862 5818 7122 962
finance charges paid 629 479 705 590
tax paidrefunded 316 744 188 406
net cash generated fromused in operating activities 4917 4595 7640 34
investing activities
proceeds on disposal of property plant and equipment — — — —
purchases of property plant and equipment 6898 3585 64 141
purchases of intangible assets 146 114 146 102
purchase of businesses 
net of cash and cash equivalents acquired — 2043 — 2043
net cash used in investing activities 7044 5742 211 2286
financing activities
dividends paid 7 249 — 249 —
repayments of borrowings 17 549 1447 — 611
drawdown of loan facilities 17 3734 2931 8099 2931
repayments of obligations under finance leases 17 272 336 — —
net cash generated from financing activities 2664 1148 7850 2320
net increase in cash and cash equivalents 537 1 — —
cash and cash equivalents at beginning of period 5 4 — —
cash and cash equivalents at end of period 542 5 — —
61
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
statements of cash flow
for the year ended 31 december 2013 62
wwwaugeanplccom stock code aug
group
share
capital
£’000
share
premium
account
£’000
special 
profit 
reserve
£’000
retained
earnings
£’000
shareholders’
equity
£’000
non
controlling
interest
£’000
total
equity
£’000
at 1 january 2012 9970 114960 — 78067 46863 — 46863
total comprehensive 
income for the year
retained profit — — — 1966 1966 14 1980
total comprehensive income for 
the year — — — 1966 1966 14 1980
transactions with owners
of the company
acquisition of subsidiary — — — — — 1105 1105
capital reduction — 114960 32076 82884 — — —
sharebased payments — — — 130 130 — 130
total transactions with the owners 
of the company — 114960 32076 83014 130 1105 1235
at 1 january 2013 9970 — 32076 6913 48959 1119 50078
total comprehensive 
income for the year
retained profit — — — 1787 1787 108 1679
total comprehensive income for 
the year — — — 1787 1787 108 1679
transactions with owners 
of the company
dividend note 7 — — — 249 249 — 249
acquisition of non controlling 
interest in anss — — — 118 118 431 313
reserve transfer note 20 — — 4374 4374 — — —
share based payments — — — 88 88 — 88
tax on items charged to equity — — — 29 29 — 29
total transactions with the owners 
of the company — — 4374 4388 14 431 445
at 31 december 2013 9970 — 36450 738 47158 796 47954
statements of changes in shareholders’ equity
for the year ended 31 december 2013 63
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
company
share
capital
£’000
share
premium
account
£’000
special 
profit 
reserve
£’000
retained
earnings
£’000
shareholders’
equity
£’000
at 1 january 2012 9970 114960 — 82954 41976
total comprehensive income for the year
retained profit — — — 246 246
total comprehensive income for the year — — — 246 246
transactions with owners of the company
capital reduction — 114960 32076 82884 —
sharebased payments — — — 130 130
total transactions with the owners of the company — 114960 32076 83014 130
at 1 january 2013 9970 — 32076 306 42352
total comprehensive income for the year
retained profit — — — 4847 4847
total comprehensive income for the year — — — 4847 4847
transactions with owners of the company
reserve transfer note 20 — — 4374 4374 —
dividend note 7 — — — 249 249
share based payments — — — 88 88
tax on items charged to equity — — — 25 25
total transactions with the owners of the company — — 4374 4510 136
at 31 december 2013 9970 — 36450 643 47063
statement of changes in shareholders’ equity
for the year ended 31 december 2013 64
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
notes to the financial statements
for the year ended 31 december 2013
1 accounting policies
a basis of accounting
the financial statements have been prepared in accordance with international financial reporting standards ifrs 
international financial reporting interpretations committee ifric interpretations endorsed by the european union 
and those parts of the companies act 2006 that remain applicable to companies reporting under ifrs the financial 
statements have been prepared on the historical cost basis with the exception of certain items which are measured at 
fair value as disclosed in the principal accounting policies set out below these policies have been consistently applied 
to all years presented unless otherwise stated
the preparation of financial statements in conformity with ifrs requires the use of estimates and assumptions that 
affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts 
of revenues and expenses during the reporting period although these estimates are based on management’s best 
knowledge of the amount event or actions actual results ultimately may differ from these estimates
the company has taken advantage of section 408 of the companies act 2006 and has not included its individual 
statement of comprehensive income in these financial statements the company’s overall result for the year is given in 
the statement of changes in shareholders’ equity
i subsidiaries
the consolidated financial statements incorporate the financial statements of the company and entities controlled by 
the company its subsidiaries made up to 31 december each year control is achieved where the company has the 
power to govern the financial and operating policies of an investee entity so as to obtain benefits from its activities
results of subsidiary undertakings acquired or sold during the year are consolidated from or to the date on which 
control passes the trading results of companies acquired during the year are accounted for under the acquisition 
method of accounting
all intragroup transactions balances income and expenses are eliminated on consolidation
ii jointly controlled entities
a joint control is a contractual arrangement whereby two or more parties undertake an economic activity that is subject 
to joint control joint control exists where the strategic financial and operating decisions relating to the activity require 
the unanimous consent of the parties jointly controlled entities are accounted for using the equity method under which 
the carrying value of the group’s investment is made up of the cost plus the group’s share of postacquisition profits 
and less equivalent losses as recognised in the statement of comprehensive income should a jointly controlled entity 
result in losses in excess of the group’s interest they will be recognised where the group has a legal or constructive 
obligation to fund those losses
unrealised gains on transactions with jointly controlled entities are eliminated to the extent of the group’s interest in the 
jointly controlled entity unrealised losses are also eliminated unless the transactions provide evidence of impairment of 
the asset transferred 
the group ceases to use the equity method of accounting on the date from which it no longer has joint control in the 
jointly controlled entity or when the interest becomes held for sale
iii business combinations
the acquisition method is used to account for all acquisitions the cost of an acquisition is measured at the fair values 
on the acquisition date which is the date on which control is transferred to the group the consideration is calculated 
as the sum of fair value of assets transferred and liabilities incurred in assessing control the group takes into 
consideration potential voting rights that are currently exercisable  65
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
the group measures goodwill at the acquisition date as
 the fair value of the consideration transferred plus
 the recognised amount of any noncontrolling interests in the acquiree less
 the net recognised amount of the identiﬁable assets acquired and liabilities assumed measured at their fair value
when the excess is negative a bargain purchase gain is recognised immediately in profit or loss
the consideration transferred does not include amounts related to the settlement of preexisting relationships such  
amounts generally are recognised in profit or loss
transaction costs other than those associated with the issue of debt or equity securities that the group incurs in  
connection with a business combination are expensed as incurred
acquisitions of noncontrolling interests are accounted for as transactions with owners in their capacity as owners and 
therefore no goodwill is recognised as a result adjustments to noncontrolling interests arising from transactions that do 
not involve the loss of control are based on a proportionate amount of the net assets of the subsidiary any difference 
between the amount by which the noncontrolling interests are adjusted and the fair value of the consideration paid or 
received is recognised directly in equity
iv going concern
the directors have at the time of approving the financial statements a reasonable expectation that the company and 
the group have adequate resources to continue in operational existence for the foreseeable future thus they continue 
to adopt the going concern basis of accounting in preparing the financial statements further detail is contained in the 
financial review on page 32
b revenue recognition
the group’s responsibility for waste arises as soon as the waste is accepted into one of its facilities revenue is 
therefore recognised at the point of acceptance except when contractual agreements provide for specific services 
in which case revenue is recognised at point of delivery of each separate service revenue shown in the statement 
of comprehensive income represents charges for all waste accepted inclusive of landfill tax where appropriate but 
exclusive of value added tax
rental income from operating leases is recognised on a straight line basis over the term of the lease the related assets 
are recorded as plant and machinery within property plant and equipment and are depreciated on a straightline basis 
over the useful lives of the assets
c exceptional items
items that are material in size and nonrecurring in nature are presented as exceptional items in the statement of 
comprehensive income the directors are of the opinion that the separate recording of the exceptional items provides 
helpful information about the group’s underlying business performance examples of events which may give rise to the 
classification of items as exceptional include restructuring of the business compensation for loss of office impairment 
of goodwill and nonrecurring income or expenditure
d goodwill
goodwill arising on the acquisition of subsidiary undertakings and businesses representing the excess of the fair 
value of the consideration given over the fair value of the identifiable assets and liabilities acquired is capitalised as 
an intangible asset on capitalisation the goodwill is allocated to the specific cash generating unit cgu to which it 
relates it is tested for impairment at least annually by reference to this cgu and is carried at cost less accumulated 
impairment losses any impairment is recognised immediately in profit or loss and is not subsequently reversed 66
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
1 accounting policies continued
goodwill arising on acquisitions before the date of transition to ifrs has been retained at the previous uk gaap 
amounts subject to being tested for impairment at that date and on an annual basis going forward 
e other intangible assets
intangible assets purchased separately such as software licences that do not form an integral part of related hardware 
are capitalised at cost and amortised on a straightline basis this is charged to operating expenses over the asset’s 
useful economic life of three years
intangible assets acquired through a business combination such as customer contracts are initially measured at fair 
value and amortised on a straightline basis over their useful economic lives to the profit and loss account which are 
taken to be the length of the contract an intangible asset is considered identifiable only if it is separable or if it arises 
from contractual or other legal rights regardless of whether those rights are transferable or separable from the entity or 
from other rights and obligations after initial recognition assets acquired as part of a business combination are carried 
at cost less accumulated amortisation and any impairment losses
methods of amortisation residual value and useful lives are reviewed and if necessary adjusted at each statement of 
financial position date
f investments
investments are in respect of subsidiaries and a jointly controlled entity investments held as noncurrent assets are 
stated at historic cost less any provision for impairment 
g property plant and equipment
property plant and equipment are stated at cost less accumulated depreciation and any recognised impairment loss 
the cost of an item of property plant and equipment comprises its purchase price and any costs directly attributable 
to bringing the asset into use borrowing costs related to the purchase of property plant and equipment are capitalised 
where the cost is directly attributable to the property plant or equipment being purchased
subsequent costs are included in an asset’s carrying value or recognised as a separate asset when it is probable that 
future economic benefits associated with the additional expenditure will flow to the group and the cost of the item can 
be measured reliably all other costs are charged to profit or loss when incurred
the acquisition commissioning and site infrastructure costs for each landfill site are capitalised when incurred these 
costs are then depreciated over the useful life of the site which is assessed with reference to the usage of the void 
space available
cell engineering costs are capitalised when incurred the depreciation charged to profit or loss is calculated with 
reference to actual costs to date and expected future costs for each cell including the cost of the future cap the total 
of which is spread over the useful life of the cell useful life is assessed by reference to the usage of the void space 
available and the rate at which the void space is filled 
freehold land which is not part of a landfill site is not depreciated depreciation is provided evenly on all other property 
plant and equipment at rates calculated to write off the cost less estimated residual value of each asset over its useful 
life as follows
freehold buildings – 50 years
plant and machinery – two to ten years 67
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
methods of depreciation residual values and useful lives are reviewed and adjusted if appropriate at each statement of 
financial position date
assets held under finance leases are depreciated over the shorter of their expected useful lives or where there is no 
reasonable certainty that title will be obtained at the end of the lease term the term of the relevant lease
the gain or loss arising from the disposal or retirement of an item of property plant and equipment is determined as the 
difference between the net disposal proceeds and the carrying amount of the item and is included in profit or loss
finance leases and hire purchase arrangements 
where the group enters into a lease which entails taking on substantially all of the risks and rewards of ownership of 
an asset the lease is treated as a finance lease and the asset is capitalised future instalments under such leases net 
of finance charges are recognised as a liability rentals payable are apportioned between the finance element which 
is charged to profit or loss so as to give an approximate constant rate of charge on the outstanding obligation and the 
capital element which reduces the outstanding obligation for future instalments 
the asset and associated liability are recorded in the statement of financial position within property plant and 
equipment and financial liabilities respectively at their fair value or if lower at the present value of the minimum lease 
payments both determined at the inception of the lease
depreciation is calculated in accordance with the above depreciation policies
other leases are treated as operating leases the rentals for which are charged to profit or loss on a straightline basis 
over the lease term
restoration capping and aftercare provisions
the anticipated total cost of restoration capping postclosure monitoring and aftercare is charged to profit or loss 
over the expected useful life of the sites in proportion to the amount of void consumed at the sites during the period 
the costs of restoration and postclosure monitoring are charged against the provision when incurred the provision 
has been estimated using current costs and is discounted when the effect is material the expected future cash flows 
required to settle the obligation are discounted at the pretax rate that reflects the current market assessments of the 
time value of money and the risks specific to the obligation
h impairment of noncurrent assets
at each statement of financial position date the group assesses whether there is any indication that its assets have 
been impaired if any such indication exists the recoverable amount of the asset is estimated in order to determine 
the extent of the impairment if any if it is not possible to estimate the recoverable amount of the individual asset the 
recoverable amount of the cgu to which the asset belongs is determined
the recoverable amount is defined as the higher of fair value less costs to sell and value in use at the date the 
impairment review is undertaken value in use represents the present value of expected future cash flows discounted 
on a pretax basis using a pretax discount rate that reflects current market assessments of the time value of money 
and the risks specific to the asset or cgu if the recoverable amount of an asset is less than its carrying amount the 
carrying amount of the asset is reduced to its recoverable amount that reduction is recognised as an impairment loss
an impairment loss relating to assets carried at cost less any accumulated depreciation or amortisation is recognised 
immediately in profit or loss 68
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
1 accounting policies continued
goodwill is tested for impairment on an annual basis an impairment loss is recognised for cgus if the recoverable 
amount of the unit is less than the carrying amount of the unit the impairment loss is allocated to reduce the carrying 
amount of the assets of the unit by first reducing the carrying amount of any goodwill allocated to the cgu and then 
reducing the other assets of the unit pro rata on the basis of the carrying amount of each asset in the unit
if an impairment loss subsequently reverses the carrying amount of the asset is increased to the revised estimate of its 
recoverable amount but limited to the carrying amount that would have been determined had no impairment loss been 
recognised in prior years a reversal of an impairment loss is recognised in profit or loss any impairments of goodwill 
cannot be subsequently reversed
i leases
leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of 
ownership to the lessee all other leases are classified as operating leases
rental income from operating leases is recognised on a straightline basis over the term of the relevant lease initial 
direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased 
asset and recognised on a straightline basis over the lease term
j inventories
inventories are stated at the lower of cost measured on a firstin firstout basis and net realisable value and where 
appropriate are stated net of provisions for impairment
k tax
current tax
current tax is provided at amounts expected to be paid or recovered using tax rates and laws that have been enacted 
or substantively enacted at the statement of financial position date the tax currently payable is based on taxable 
profit for the year taxable profit differs from net profit as reported in the statement of comprehensive income because 
it excludes items of income that are taxable or deductible in other years and it further excludes items that are never 
taxable or deductible
deferred tax
deferred tax on temporary differences at the statement of financial position date between the tax bases of assets and 
liabilities and their carrying amounts for financial reporting purposes is accounted for using the statement of financial 
position liability method
using the liability method deferred tax liabilities are recognised in full for all taxable temporary differences and 
deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available against 
which deductible temporary differences can be utilised however if the deferred tax asset or liability arises from the 
initial recognition of goodwill or the initial recognition of an asset or liability in a transaction other than a business 
combination that at the time of the transaction affects neither accounting nor taxable profit it is not recognised
deferred tax on temporary differences associated with shares in subsidiaries and jointly controlled entities is not 
provided if reversal of these temporary differences can be controlled by the group and it is probable that the reversal 
will not occur in the foreseeable future
deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply when the asset is 
realised or the liability settled based on tax rates and laws enacted or substantively enacted at the statement of 
financial position date 69
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
current and deferred tax are recognised in profit or loss except when they relate to items recognised in other 
comprehensive income or equity where they are similarly recognised in other comprehensive income or equity
l retirement benefits 
contributions made by the group to individual money purchase pension schemes are charged to profit or loss during 
the period to which they relate
m equitysettled share based payments
ifrs 2 ‘share based payments’ requires that an expense for equity instruments granted is recognised in the financial 
statements based on their fair values at the date of the grant this expense which is in relation to employee share 
options and executive ltip schemes is recognised over the vesting period of the scheme based on the number of 
instruments expected to vest the fair value of employee services is determined by reference to the fair value of the 
awarded grant calculated using the black scholes model or binomial lattice model excluding the impact of any non
market vesting conditions
at the statement of financial position date the group revises its estimate of the number of share incentives that 
are expected to vest the impact of the revisions of original estimates if any is recognised in profit or loss with a 
corresponding adjustment to equity over the remaining vesting period
n assets held for sale
noncurrent assets or disposal groups comprising assets and liabilities that are expected to be recovered primarily 
through sale rather than through continuing use are classified as held for sale immediately before classification as held 
for sale the assets or components of a disposal group are remeasured in accordance with the group’s accounting 
policies thereafter generally the assets or disposal group are measured at the lower of their carrying amount and fair 
value less costs to sell impairment losses on initial classification as held for sale and subsequent gains and losses on 
revaluation are recognised in profit or loss gains are not recognised in excess of any cumulative impairment loss
once classified as held for sale intangible assets and property plant and equipment are no longer amortised or 
depreciated
o cash and cash equivalents
cash and cash equivalents comprise demand deposits and cash in hand together with short term highly liquid deposits 
with a maturity of three months or less from the date of acquisition which are subject to an insignificant risk of change 
in value
p financial instruments
i financial assets
financial assets are categorised as other loans and receivables the group’s trade and other receivables fall in the 
‘loans and receivables’ category financial assets are assigned to this category on initial recognition depending on the 
characteristics of the instrument and its purpose a financial instrument’s category is relevant for the way it is measured 
and whether any resulting income and expenses is recognised in profit or loss or other comprehensive income 
augean recognises all financial assets when the group becomes party to the contractual provisions of the instrument 
financial assets are recognised initially at fair value plus transaction costs an annual assessment is made to ascertain 
whether there is objective evidence that the financial assets are impaired all income and expense relating to financial 
assets are recognised in profit or loss
loans and receivables are nonderivative financial assets with fixed or determinable payments that are not quoted in 
an active market after initial recognition these are measured at amortised cost using the effective interest method less 
any provision for impairment any change in their value is recognised in profit or loss discounting however is omitted 
where the effect is immaterial 70
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
1 accounting policies continued
significant receivables are considered for impairment on a casebycase basis when they are past due at the statement 
of financial position date or when objective evidence is received that a specific counterparty will default provision 
against trade receivables is made when there is objective evidence that the group will not be able to collect all amounts 
due to it in accordance with the original terms of those receivables the amount of the impairment is determined as the 
difference between the asset’s carrying amount and the present value of estimated future cash flows discounted at the 
original effective interest rate
ii financial liabilities
the group’s financial liabilities include trade payables debt and finance liabilities trade payables are not interest 
bearing and are recognised initially at fair value and carried at amortised cost debt is initially recognised at fair value 
less transaction costs and carried at amortised cost the group’s policy is that no trading in financial instruments or 
derivatives shall be undertaken
financial liabilities are recognised when the group becomes a party to the contractual provisions of the instrument all 
interestrelated charges and if applicable changes in an instrument’s fair value that are reported in profit or loss are 
included in the statement of comprehensive income under ‘finance charges’
iii free cash flow
this is a measure used by the group to assess capital management performance it is defined as net operating cash 
flow less purchase of property plant and equipment and finance lease repayments it is determined as part of the 
capital management assessment and is reconciled in note 26
iv ebitda
ebitda is a nonifrs measure used by management as a tool for assessing operating cash flows it represents 
earnings before interest tax depreciation amortisation impairment and capping provision it is determined as part of 
the cash flow reconciliation shown in note 23
q equity
equity comprises share capital share premium special profit reserve and retained profit and losses share capital 
represents the nominal value of equity shares share premium account represents the excess over nominal value of 
the fair value of consideration received for equity shares net of expenses of the share issue special profit reserve 
represents the residual value of the cancellation of the share premium account over and above the total retained losses 
for the company this was created on 4 july 2012 when the capital reduction was approved the amounts recognised 
in the special profit reserve are not distributable without permission of persisting creditors from this date profit and loss 
realised within the group before this date is retained in the special profit reserve retained profit and losses represent 
retained profit and losses and equitysettled share based payment employee remuneration
r significant judgements and key sources of estimation uncertainty 
the preparation of the financial statements in conformity with ifrs requires management to make estimates and 
assumptions that affect the application of policies and reported amounts of assets liabilities income expenses and 
related disclosures the estimates and underlying assumptions are based on historical experience the best available 
information and various other factors that are believed to be reasonable under the circumstances this forms the basis 
of making judgements about carrying values of assets and liabilities that are not readily apparent from other sources 71
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
actual results may however differ from these estimates the estimates and underlying assumptions are reviewed on 
an ongoing basis changes in accounting estimates may be necessary if there are changes in the circumstances on 
which the estimate was based or as a result of new information or further information such changes are recognised 
in the period in which the estimate is revised certain accounting policies are particularly important to the preparation 
and explanation of the group’s financial information key assumptions about the future and key sources of estimation 
uncertainty that have a risk of causing a material adjustment to the carrying value of assets and liabilities over the next 
twelve months are set out below
impairment of goodwill and fixed assets
the group has property plant and equipment with a carrying value of £40192000 note 13 and goodwill with a 
carrying value of £19602000 note 10 these assets are reviewed annually for impairment as described on pages 
83 to 84 to ensure that goodwill and property plant and equipment are not carried above their estimated recoverable 
amounts to assess if any impairment exists estimates are made of the future cash flows expected to result from the 
use of the asset and its eventual disposal actual outcomes could vary from such estimates of discounted future cash 
flows factors such as changes in expected use of property plant and equipment closure of facilities or lower than 
anticipated revenues could result in impairment for further details of assumptions see note 10
site development and cell engineeringcapping
total anticipated site development and cell engineeringcapping costs are charged to profit or loss as void usage 
progresses costs of site development and cell engineeringcapping are estimated using either the work of external 
consultants or internal experts management uses its judgement and experience to provide for these estimated costs 
over the life of the site and cell
see note 18 for further details of calculation methodology assumptions used and potential sensitivities to these 
calculations
aftercare costs
provision is made for aftercare costs as soon as the obligation arises and is charged to profit or loss as void 
usage progresses aftercare costs are estimated using either the work of external consultants or internal experts 
management uses its judgement and experience to provide for these estimated costs over the life of the site see note 
17 for further details of calculation methodology assumptions used and potential sensitivities to these calculations
other provisions
other provisions are made where management judges that a probable future outflow of resources will occur which 
can be reliably estimated arising from a past event estimates are based on the work of internal experts and previous 
operational and commercial experience see note 18 for further details of calculation methodology assumptions used 
and potential sensitivities to these calculations
income taxes
at 31 december 2013 the net liability relating to current income tax is £345000 2012 £197000 a deferred tax 
asset of £1143000 2012 £1231000 has also been recognised estimates may be required in determining the level 
of current and deferred income tax assets and liabilities which the directors believe are reasonable and adequately 
recognise any income tax related uncertainties various factors may have favourable or adverse effects on the income 
tax assets or liabilities these include changes in tax legislation tax rates and allowances future levels of spending and 
the group’s level of future earnings 72
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
1 accounting policies continued
the following new standards amendments to standards and interpretations are mandatory for the first time for the 
financial year beginning 1 january 2013
 amendments to ias 1 – presentation of items of other comprehensive income effective 1 july 2012
 amendments to ias 19 – employee beneﬁts effective 1 january 2013
 ias 27 – separate financial statements effective 1 january 2013
 ias 28 – investments in associates and joint ventures effective 1 january 2013
 amendments to ifrs 7 – financial instruments disclosures – offsetting financial assets and financial liabilities
 ifrs 13 – fair value measurements effective 1 january 2013
 annual improvements 20092011 cycle effective 1 january 2013
 consolidated financial statements joint arrangements and disclosure of interests in other entities  
transition guidance effective 1 january 2013
none of these standards has had a significant impact on the financial statements of the group
at the date of authorisation of these financial statements the following standards and interpretations which have not 
been applied in these financial statements were in issue but not yet effective
 ifrs 10 consolidated financial statements eu effective date 1 january 2014
 ifrs 11 joint arrangements eu effective date 1 january 2014
 ifrs 12 disclosure of interests in other entities eu effective date 1 january 2014
 ias 27 revised separate financial statements eu effective date 1 january 2014
 ias 28 revised investments in associates and joint ventures eu effective date 1 january 2014
 transition guidance – amendments to ifrs 10 ifrs 11 and ifrs 12 eu effective date 1 january 2014
 investment entities – amendments to ifrs 10 ifrs 12 and ias 27 effective 1 january 2014
 offsetting financial assets and financial liabilities  amendments to ias 32 effective 1 january 2014
 recoverable amount disclosures for nonfinancial assets amendments to ias 36 effective 1 january 2014
 novation of derivatives and continuation of hedge accounting amendments to ias 39 effective 1 january 2014
the revised standards will be adopted when effective in the group’s consolidated financial statements although are not 
anticipated to have a significant impact on the group 73
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
2 operating segments
the group has four operating segments as described below which are the group’s strategic operating divisions 
these operating divisions are monitored and strategic decisions are made on the basis of the division’s operating 
performance 
the group’s operating divisions provide different services to their customers and are managed separately as they are 
subject to different risks and returns the group’s internal organisation and management structure and its system of 
internal financial reporting are based primarily on these operating divisions for each of the operating divisions the 
group’s chief executive officer ceo the chief operating decision maker reviews internal management reports on at 
least a monthly basis the following summary describes the operations of each of the group’s reportable segments 
with further details provided in the business review
 – land resources division renamed energy and waste services post year end augean operates three modern 
hazardous and nonhazardous landﬁll operating sites based at east northants resource management facility 
enrmf thornhaugh in northamptonshire and port clarence in teesside providing waste remediation and 
disposal services to its customers the division includes a site at cooks hole in northamptonshire where minerals 
are extracted and also generates energy from closed landﬁll cells
 – waste network division in 2013 augean operated waste transfer sites across the uk transporting recovering 
recycling and disposing of hazardous wastes on behalf of its customers during 2013 the intention to close this 
division was announced the sites at hinckley rochdale and worcester were sold in march 2013 the site at 
cannock along with certain customers serviced by the division has been retained this has been used as the 
basis of a new and distinct business unit augean integrated services “ais” focused on total waste management 
solutions 
in the analysis below cost relating to the cannock site which is expected to continue after the divisional change the 
trading result from customers augean expects to service with the ais division and the trading result for the east kent 
incinerator are disclosed as continuing operations the closed waste networks business is disclosed as discontinued 
 – oil  gas services division renamed industrial waste services post year end augean operates three waste 
treatment sites across the uk with activities focused on the management of oilcontaminated waste the division 
also provides specialist industrial cleaning services 
 – augean north sea services limited through an 8119 owned subsidiary company with scomi oiltools europe 
limited augean provides waste management and waste processing services to offshore oil and gas operators in the 
north sea
information regarding the results of each reportable segment is included below performance is measured based on 
the segment profit before tax and exceptional items as included in the internal management reports that are reviewed 
by the group’s ceo this profit measure for each operating division is used to measure performance as management 
believes that such information is the most relevant in evaluating the results of each of the divisions relative to other 
entities that operate within these sectors central costs for the proper governance and resources required to operate 
the plc board and listing have been separately reported
all activities arise solely within the united kingdom intersegment trading is undertaken on normal commercial terms 74
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
2 operating segments continued
information about reportable segments
2013
land 
resources
division
£’000
waste
 network
division
discontinued
£’000
waste 
networks 
division 
continuing 
£’000
oil  gas 
services
division
£’000
north sea
service
subsidiary
£’000
group
£’000
assets
segment assets 44285 1880 1311 17533 6285 71294
unallocated segment assets
investment in jointly controlled entity 5
deferred tax asset 1143
cash and cash equivalents 542
group total assets 72984
liabilities
segment liabilities 10638 519 1078 2262 1269 15766
unallocated segment liabilities
bank overdraft and loans 8919
current tax liabilities 345
group total liabilities 25030
2012
land 
resources
division
£’000
waste
 network
division
£’000
oil  gas 
services
division
£’000
north sea
services 
subsidiary
£’000
group
£’000
assets
segment assets 44552 6973 15609 3341 70475 
unallocated segment assets
investment in jointly controlled entity 8
noncurrent assets classified as held for sale —
deferred tax asset 1231
cash and cash equivalents 5
group total assets 71719
liabilities
segment liabilities 9935 1457 3038 895 15325
unallocated segment liabilities
bank overdraft and loans 6120
current tax liabilities 196
group total liabilities 21641 75
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
2013
land 
resources
division
£’000
waste
 network
division
discontinued
£’000
waste 
networks 
division 
continuing 
£’000
oil  gas 
services
division
£’000
north sea
service
subsidiary
£’000
group
£’000
revenue
hazardous landfill activities 8495 — — — — 8495
nonhazardous landfill activities 1063 — — — — 1063
waste treatment activities — — 1463 12574 — 14037
energy generation 128 — — — — 128
apcr management 5425 — — — — 5425
low level waste management 1625 — — — — 1625
processing of offshore waste — — — — 5179 5179
rental of offshore equipment and 
personnel — — — — 3719 3719
waste transfer activities — 3982 1147 — 452 5581
total revenue net of landfill tax 16736 3982 2610 12574 9350 45252
landfill tax 6849 — — — — 6849
total revenue including 
intersegment sales 23585 3982 2610 12574 9350 52101
intersegment sales 1574 346 — 2981 77 4978
revenue 22011 3636 2610 9593 9273 47123
result
operating profitloss before 
exceptional items 7090 1259 1117 993 682 4403
exceptional items 26 4043 25 151 25 4270
operating profitloss 7064 5302 1142 1144 657 133 
finance charges 674
central costs 544
share of loss of jointly controlled entity    13 
profit before tax 1098
tax  581
profit after tax  1679
attributable to equity shareholders 
of the parent company 1787
noncontrolling interest 108
other information
capital expenditure 3292 177 612 1154 1051 6286
depreciation and amortisation 956 82 229 1044 360 2671 76
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
2 operating segments continued
2012
land 
resources
division
£’000
waste
 network
division
£’000
oil  gas 
services
division
£’000
north sea
services 
subsidiary
£’000
group
£’000
revenue
hazardous landfill activities 10433 — — — 10433
nonhazardous landfill activities 1251 — — — 1251
waste treatment activities — 1136 12389 — 13525
energy generation 129 — — — 129
apcr management 4002 — — — 4002
low level waste management 571 — — — 571
processing of offshore waste — — — 1964 1964
rental of offshore equipment and personnel — — — 1272 1272
waste transfer activities — 6180 — 140 6320
total revenue net of landfill tax 16386 7316 12389 3376 39465
landfill tax 5661 — — — 5661
total revenue including intersegment sales 22047 7316 12389 3376 45128
intersegment sales 656 732 1309 10 2707
revenue 21391 6584 11080 3366 42421
result
operating profitloss before exceptional items 6705 1834 1235 47 3683
exceptional items 40 131 38 161 370
operating profitloss 6665 1965 1273 114 3313
finance charges 639
central costs 425
gain on bargain purchase 528
share of loss of jointly controlled entity    16 
profit before tax 2761
tax  781
profit after tax  1980
attributable to
equity shareholders of the parent company 1966
noncontrolling interest 14
other information
capital expenditure 2639 368 630 113 3750
depreciation and amortisation 1864 245 1011 181 3301 77
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
3 operating profit for the year
total operating profit for the year is arrived at after charging
 
2013
£’000
2012
£’000
fees payable to the company’s auditor for the audit of the annual financial 
statements 61 58
fees payable to the company’s auditor for other services
– audit of the financial statements of the company’s subsidiaries pursuant to legislation 8 5
– other services relating to tax – compliance and advice — 10
– other services 72 10
 141 83
amortisation of intangible assets 71 40
depreciation of property plant and equipment
– owned assets 2481 2964
– assets held under finance leases and hire purchase contracts 189 303
operating leases
– land and buildings 525 319 
– plant and machinery 484 378
loss on sale of property plant and equipment 
exceptional items
– restructuring charges 315 122
– legal and professional due diligence charges 85 248
– impairment of waste network division 3870 —
4 net finance charges
 
2013
£’000
2012
£’000
interest payable
interest and charges payable on bank loans and overdrafts 559 519
interest on finance leases and hire purchase contracts 20 30
unwinding of discount on provisions 100 100
 679 649
interest receivable
bank and other interest receivable 5 10
 5 10
net finance charges 674 639 78
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
5 group and company employees
the average monthly number of employees analysed by function was
 
2013
number
2012
number
sales 44 33
operations 213 184
administration 35 51
 292 268
 
 
2013
£’000
2012
£’000
wages and salaries 10126 7967
social security costs 1112 881
other pension costs 442 366
 11680 9214
details of other statutory directors’ remuneration disclosures as required by the aim rules are given in the directors’ 
remuneration report on pages 54 to 56 under directors’ emoluments and directors’ share plans
the directors have identified 16 2012 13 key management personnel the total key management personnel 
compensation including the nonexecutive directors presented below was as follows
 
2013
£’000
2012
£’000
short term employment benefits 1265 1249
post employment benefits 99 88
share based payments 88 130
 1452 1467
  79
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
6 tax
group
2013 2012
£’000 
continuing 
operations
£’000 
discontinued 
operations
£’000 
total
£’000 
continuing 
operations
£’000 
discontinued 
operations
£’000 
total
current tax
uk corporation tax on profit for the 
period 708 300 408 668 223 445
adjustments in respect of prior periods 85 — 85 42 — 42
793 300 493 626 223 403
deferred tax
charge in respect of the current period 185 96 89 305 13 292
adjustments in respect of prior periods 1— 1 86 — 86
184 96 88 391 13 378
tax creditcharge on the result for 
the year 977 396 581 1017 236 781
tax reconciliation
2013 2012
£’000  £’000 
profit before tax from continuing operations 4204 4228 —
tax at theoretical rate 978 233 1036 245
effects of
– expenses not deductible for tax purposes 140 3 117 3
– income not taxable —— 128 3
– adjustment relating to prior year re deferred tax —1 107 3
– group relief 337 — 134 3
– change in tax rate 144 3 61 1
– effect of share options 33 1
– adjustments in respect of prior periods 85 2 42 1
tax creditcharge on results 977 23 1017 24
deferred tax 
 
2013
£’000
2012
£’000
group
deferred tax asset 1169 1615
deferred tax liability 26 384
 1143 1231
 
2013
£’000
2012
£’000
company
deferred tax asset 104 41
 104 41 80
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
6 tax continued
all deferred tax assets and liabilities have arisen on the temporary timing differences between the tax base of the assets 
and their carrying value in the statement of financial position as detailed within note 13 property plant and equipment 
ias 12 ‘income taxes’ permits the offsetting of tax assets and liabilities within the same tax jurisdiction and which the 
company has the intention to realise and settle simultaneously all of the deferred tax assets were available for offset 
against deferred tax liabilities and as such have been presented net in the statement of financial position
 
2013
£’000
2012
£’000
group
at beginning of the year 1231 854
acquisition of subsidiary — 755
creditedcharged to the income statement during the year 89 292
adjustment in respect of prior periods 1 86
at end of the year 1143 1231
 
2013
£’000
2012
£’000
company
at beginning of the year 41 50
creditedcharged to the income statement during the year 85 3
adjustment in respect of prior periods 22 6
at end of the year 104 41
the reduction in the main rate of corporation tax from 24 to 23 effective from 1 april 2013 was substantively 
enacted on 2 july 2013 since the date that legislation was enacted it has been confirmed the rate of 23 from 1 april 
2013 will be further reduced to 21 as of 1 april 2014 with a further reduction to 20 from 1 april 2015 accordingly 
deferred tax balances have been revalued to the lower rate of 20 in these accounts to the extent that timing 
differences are expected to reverse after this date
no further reductions to the main rate of corporation tax from 20 have been proposed
no deferred tax has been recognised during the year in respect of certain temporary differences of £145000 2012 
£173000 which arise in augean plc as there is uncertainty over the extent and timing of their recovery the potential 
deferred tax assets in respect of the temporary differences are analysed as follows
 
2013
£’000
2012
£’000
depreciation in excess of capital allowances — —
other temporary differences mainly relating to specific tax rules for the timing of landfill 
deductions 29 41
unrecognised deferred tax asset 29 41 81
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
7 dividends
 
2013
£’000
2012
£’000
proposed final dividend for the year ended 31 december 2013 of 035 pence per share 
2012 025 pence per share 349 249
total 349 249
at the forthcoming annual general meeting the board will recommend to shareholders that a resolution is passed to 
approve payment of a dividend for the year ended 31 december 2013 this has not been included as a liability in these 
financial statements
8 earnings per share
the calculation of basic earnings per share at 31 december 2013 was based on the profit attributable to ordinary 
shareholders of £1787000 2012 £1966000 and a weighted average number of ordinary shares outstanding of 
99699414 2012 99699414 calculated as follows
 
2013
number
2012
number
profit after tax for the purposes of basic and diluted earnings per share 1787 1966
exceptional items 4159 249
profit after tax for the purposes of basic and diluted adjusted earnings per share 2372 1717
the exceptional items note 3 have been adjusted in the adjusted earnings per share to better reflect the underlying 
performance of the business without the impact of oneoff distorting factors when presenting the basic and diluted 
earnings per share the exercise of the outstanding share options at 31 december 2013 would decrease the loss per 
share reported they are therefore antidilutive and not included for the purposes of calculating diluted eps 
 
2013
£’000
2012
£’000
number of shares
weighted average number of shares for basic earnings per share 99699414 99699414
effect of dilutive potential ordinary shares from share options — 32823
weighted average number of shares for diluted earnings per share 99699414 99732237
earnings per share
basic 179p 197p
diluted 179p 197p
adjusted earnings per share
basic 238p 172p
diluted 238p 172p
adjusted earnings per share – continuing operations
basic 329p 286p
diluted 329p 286p
adjusted earnings per share – discontinuing operations
basic 091p 112p
diluted 091p 112p 82
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
9 investment in jointly controlled entity
terramundo limited ‘terramundo’ is a 5050 jointly controlled entity between augean plc and dec nv terramundo 
is a ground remediation facility which uses various proven techniques to clean contaminated soils of both organic and 
inorganic contaminant leading to a byproduct which can be used in composting no trading has taken place during the 
current or previous periods however both parties have agreed to maintain their interest in the entity and believe that the 
future trading will support the net liabilities owed to its parent companies
the cost of investment held by augean plc in its 50 interest at 31 december 2013 was £100 2012 £100
during the period ended 31 december 2013 the jointly controlled entity generated the following revenue and costs
 
2013
£’000
2012
£’000
revenue — —
costs 26 33
loss for the year 26 33
augean plc’s share of the loss for the period 13 16
at 31 december 2013 the jointly controlled entity held net liabilities of £1013000 2012 £988000 of which the 
group’s 50 share was £507000 2012 £494000 the net liabilities of the jointly controlled entity are analysed below 
for information purposes
 
2013
£’000
2012
£’000
noncurrent assets — 2
current assets 14 17
current liabilities — —
noncurrent liabilities 1027 1007
net liabilities 1013 988
the overall position in respect of the jointly controlled entity is as below
group company
2013
£’000
2012
£’000
2013
£’000
2012
£’000
investment in the long term future of the venture 512 502 512 502
share of net liabilities of the jointly controlled entity 507 494 — —
investment in jointly controlled entity 5 8 512 502 83
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
10 goodwill
£’000
cost
at 1 january 2012 103768
at 1 january 2013 103768
at 31 december 2013 103768
provision for impairment
at 1 january 2012 82063
at 1 january 2013 82063
impairment charge 2103
at 31 december 2013 84166
net book value
at 31 december 2013 19602
at 1 january 2013 21705
at 1 january 2012 21705
the goodwill arose on the acquisition of subsidiary undertakings and businesses and represents the excess of the fair 
value of the consideration given over the fair value of the identifiable assets and liabilities acquired the goodwill which 
arose before the date of transition to ifrs has been retained at the previous uk gaap amounts
goodwill has been allocated to the group’s cash generating units cgu’s which are defined as the group’s reportable 
segments in note 2 and are the lowest level at which goodwill is monitored for internal management purposes no 
goodwill arose as a result of the acquisition of north sea services the goodwill previously held against the waste 
network has been written down as a result of the closure of this division note 15 the allocation of goodwill by cgu is 
as follows
 
2013
£’000
2012
£’000
land resources division 12420 12420
waste network division — 2103
oil and gas services division 7182 7182
total 19602 21705
goodwill is tested for impairment annually at the balance sheet date and as and when other events or changes 
in circumstances indicate that the carrying amount may not be fully recoverable the goodwill impairment test is 
performed by comparing the net book value of the goodwill and other noncurrent assets for a particular cgu to its 
value in use estimated on a discounted cash flow basis
the discounted cash flows have been prepared separately for the land resources and oil and gas services divisions 
the key assumptions for the land resources division’s cash flows are
 based on approved budgets and plans for 2014 and beyond this period have been forecast until expected site 
closure
 revenue streams based on anticipated waste volumes are expected to remain ﬂat with no change to average price 
as the competitive nature of the landﬁll market leads to ongoing pricing pressures 
 forecast gross margin gm has been based upon past performance and the approved budgets and plans gross 
margin has been forecast to improve on a compound basis by 1 of gm per annum from years 1 to 5 where it will 
become ﬁxed as management focus on maintaining efﬁcient operations the gm improvements are expected to be 
delivered through improved and innovative waste treatment processes continued targeting of margin enhancing 
waste streams and focus on cost control 84
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
10 goodwill continued
 using the discount rate below there is no indication of impairment with headroom of £75m 2012 £128m and
 sensitivity analysis has been performed over the key assumptions which indicate the following impact meaning 
reduction or increase in headroom
sensitivity
impact in 
2013
impact in 
2012
discount factor 1 £34m £42m
gross margin 1 £03m £12m
revenue growth rate 1 £12m £71m
the key assumptions for the oil and gas services division’s cash flows are
 based on approved budgets and plans for 2014 
 revenue growth over the period to 2016 is expected to achieve 3 per annum consistent with the current 
underlying growth rate of the division this reﬂects the impact of improvements to pricing and increasing volumes 
through the itd and further increases in volumes from trading with the north sea services division revenue growth 
of 2 per annum from 2016 is expected
 a 1 compound growth in gross margin per annum is assumed from years 1 to 5 this represents the improved 
waste acceptance procedures which focus on higher margin waste and improved treatment techniques from 
2016 gross margin is assumed to remain constant as increased process efﬁciencies are offset by inﬂationary cost 
increases
 ﬁxed costs are anticipated to rise at 05 per annum for the life of the site reﬂecting the impact of cost inﬂation 
offset by effective underlying cost control
 using the discount rate below there is no indication of impairment with headroom of £27m 2012 £66m and
 sensitivity analysis has been performed over the key assumptions which indicate the following impact meaning 
reduction or increase in headroom
sensitivity
impact in 
2013
impact in 
2012
discount factor 1 £18m £26m
gross margin 1 £20m £24m
revenue growth rate 1 £55m £60m
the cash flows for all cgus have been discounted using a pretax discount rate of 130 2012 110 which 
reflects management’s best estimate of the current market’s assessment of the time value of money and the business 
operational and financial risks specific to the cgus 
based on the assumptions above and consideration of appropriate sensitivity analysis management is satisfied that no 
impairment of goodwill exists at the date of these financial statements 
the principal risks which will apply to future reviews of goodwill continue to include the changes in rate of waste 
production in the markets in which the group operates significant increases to price competition beyond that 
experienced to date or anticipated and the impact of changes in legislation on operations 85
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
11 intangible assets
group company
customer 
contracts
£’000
computer 
software
£’000
total
£’000
total
£’000
cost
at 1 january 2012 374 350 724 307
additions — 114 114 102
at 1 january 2013 374 464 838 409
additions — 146 146 146
disposal 374 — 374 —
at 31 december 2013 — 610 610 555
amortisation
at 1 january 2012 374 301 675 262
charge for the year — 40 40 38
at 1 january 2013 374 341 715 300
charge for the year — 71 71 68
disposal 374 — 374 —
at 31 december 2013 — 412 412 368
net book value
at 31 december 2013 — 198 198 187
at 31 december 2012 — 123 123 109
at 1 january 2012 — 49 49 405 86
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
12 investments in subsidiaries
£’000
cost 
at 1 january 2012 130031
additions 2050
at 1 january 2013 132081
additions 312
at 31 december 2013 132393
provision for impairment 
at 1 january 2012 74450
at 1 january 2013 74450
at 31 december 2013 74450
net book value 
at 31 december 2013 57943
at 1 january 2013 57631
at 1 january 2012 55581
the principal trading subsidiary companies of the group are as follows 
name of company
country of registration 
or incorporation
proportion 
held  nature of business
augean treatment limited england and wales 100 waste treatment
augean north limited england and wales 100 landfill operations
augean south limited england and wales 100 landfill operations
augean north sea services limited england and wales 81 waste treatment
these companies are owned directly by augean plc
in addition to the above the company holds 50 of the issued share capital of terramundo limited a jointly controlled 
entity with dec nv note 9
the full list of subsidiaries will be shown in the next annual return
all other subsidiaries are dormant 87
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
13 property plant and equipment
group
freehold land 
and buildings 
£’000
leasehold 
land and 
buildings 
£’000
engineered 
cells 
£’000
plant and 
machinery 
£’000
total 
£’000
cost
at 1 january 2012 36152 — 9698 14059 59909
additions 1053 — 377 2321 3751
acquisition of subsidiary 2000 948 — 708 3656
disposals — — — — —
at 1 january 2013 39205 948 10075 17088 67316
additions 302 172 852 4960 6286
disposals — — — 18 18
revision of cell capping provision note 18 — — 601 — 601
reclassified as held for sale note 15 2454 — — 1089 3543
at 31 december 2013 37053 1120 10326 20941 69440
accumulated depreciation
at 1 january 2012 8822 — 8258 7414 24494
charge for year 372 31 930 1928 3261
at 1 january 2013 9194 31 9188 9342 27755
charge for year 477 58 204 1932 2671
disposals — — — 1 1
revision of cell capping provision note 18 — — 601 — 601
impairment 1224 — — 543 1767
reclassified as held for sale note 15 1623 — — 720 2343
at 31 december 2013 9272 89 8791 11096 29248
net book value
at 31 december 2013 27781 1031 1535 9845 40192
at 1 january 2013 30011 917 887 7746 39561
at 1 january 2012 27330 — 1440 6645 35415
there were no outstanding contractual commitments for acquisitions of property plant or equipment at 31 december 
2013 2012 £nil plant and machinery includes assets held under finance lease agreements with a carrying value at  
31 december 2013 of £876000 2012 £1062000
the movement in engineered cells relating to the revision of the cell capping provision has occurred as the company 
has revised the cost expected to be incurred in capping landfill cells at the end of their useful life an equal reduction in 
cost and accumulated depreciation has been recognised
assets pledged as security for loans is disclosed in note 17 88
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
13 property plant and equipment continued
plant and machinery includes the following amounts in respect of assets held under finance leases and hire purchase 
contracts
 
2013
£’000
2012
£’000
cost 1560 1722
accumulated depreciation 684 660
net book value 876 1062
company
freehold 
land and 
buildings 
£’000
plant and 
machinery 
£’000
total 
£’000
cost 
at 1 january 2012 778 393 1171
additions — 134 134
at 1 january 2013 778 527 1305
additions —6464
at 31 december 2013 778 591 1369
accumulated depreciation 
at 1 january 2012 84 320 404
charge for year 13 71 84
at 1 january 2013 97 391 488
charge for year 13 80 94
at 31 december 2013 110 471 582
net book value 
at 31 december 2013 668 120 788
at 1 january 2013 681 136 817
at 1 january 2012 694 73 767 89
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
14 trade and other receivables
current assets
group company
2013
£’000
2012
£’000
2013
£’000
2012
£’000
trade receivables 8143 7179 — —
amounts receivable from subsidiary — — 3660 —
prepayments and accrued income 1663 1689 1095 916
 9806 8868 4755 916
all amounts are anticipated to be recoverable in the short term the carrying amount of trade receivables is considered 
a reasonable approximation of fair value
all trade and other receivables have been reviewed for indicators of impairment certain trade receivables were found to 
be impaired and a provision of £75000 2012 £75000 has been recorded accordingly see note 25
15 discontinued operations
on 24 september 2013 the company announced the intention to dispose of the waste network division the company 
subsequently entered into sale arrangements to dispose of the sites at worcester hinckley and rochdale the 
disposals were completed in march 2014 on which date the control of the sites passed to the acquirers
the site at cannock which previously formed part of the waste network division has been retained within the group 
this site has been used from 1 january 2014 as the base for the newlyformed augean integrated services division 
distinct from the transfer operation which previously existed 
the company retained a small number of existing customers which were previously served by the divested sites the 
analysis below includes the closed site and the trading result for the customers who were not retained
 
2013
£’000
2012
£’000
revenue 3636 5727
operating expenses 4895 7063
loss before tax and exceptional items 1259 1336
exceptional items 4043 131
loss before tax 5302 1467
taxation 396 236
loss after tax 4906 1231 90
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
15 discontinued operations continued
the major classes of assets and liabilities comprising the operations classified as held for sale are
 
2013
£’000
property plant and equipment 1200
during the year the division contributed £1159000 2012 £1321000 to the group’s net operating cash flow there 
was an outflow of £177000 2012 £180000 relating to investing activities there was no cash flow associated with 
financing activities
a impairment in carrying value of property plant and equipment and attributable goodwill of £3870000 has 
been recognised in the financial statements as a result of remeasurement to fair value less costs to sell this re
measurement has been recognised in the statement of comprehensive income within the loss from discontinued 
operations
16 trade and other payables
group company
current
2013
£’000
2012
£’000
2013
£’000
2012
£’000
trade payables 3197 3207 38 13
amounts due to subsidiary undertakings — — 366 8862
other taxes and social security 2316 1769 239 223
accruals and deferred revenue 3517 3303 185 340
 9030 8279 828 9438
all amounts are anticipated to be payable in the short term the carrying values are considered to be a reasonable 
approximation of fair value 91
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
17 financial liabilities
this note provides information about the group’s and company’s interest bearing borrowings which are carried at 
amortised cost
group company
2013
£’000
2012
£’000
2013
£’000
2012
£’000
current
bank overdraft — 549 7625 3260
obligations under finance leases and hire purchase contracts 114 288 — —
 114 837 7625 3260
noncurrent
bank loans 8909 5175 8909 5175
obligations under finance leases and hire purchase contracts 10 108 — —
 8919 5283 8950 5175
analysis of total financial liabilities
bank overdraft — 549 7625 3260
bank loans 8909 5175 8909 5175
obligations under finance leases and hire purchase contracts 124 396 — —
 9033 6120 16534 8435
total financial liabilities are repayable as follows
– on demand or within one year 114 837 7625 3260
– in the second year 10 108 — —
– in the third to fifth years inclusive 8909 5175 8909 5175
 9033 6120 16534 8435
obligations under finance leases and hire purchase contracts 
are repayable as follows
– on demand or within one year 114 288 — —
– in the second year 10 108 — —
– in the third to fifth years inclusive — — — —
 124 396 — —
the obligations under finance leases and hire purchase contracts are secured against the specific assets financed with 
a carrying amount of £876000 2012 £1062000 the bank overdraft bank loan and guarantees are secured by way 
of a first legal charge over certain freehold properties debentures cross guarantees and indemnities across the group
for more information about the group’s exposure to interest rate credit risk and liquidity risk see note 25 92
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
18 provisions
group
restoration 
and aftercare 
costs of 
landfill sites 
£’000
 capping 
provision 
£’000
other 
provisions 
£’000
total 
£’000
at 1 january 2012 2537 4055 76 6668
charged to profit or loss during the year 
– unwinding of discount 100 — — 100
– other 66 — — 66
utilised during the year 11 — — 11
additional capping provision — 222 — 222
at 1 january 2013 2692 4277 76 7045
charged to profit or loss during the year 
– unwinding of discount 100 — — 100
– other 19 112 — 131
utilised during the year 53 — — 53
change in capping provision — 601 — 601
at 31 december 2013 2758 3788 76 6622
the provision for restoration and aftercare relates to closure and postclosure costs for all landfill sites charged over 
the estimated active life of the sites the expenditure is incurred partially on completion of the landfill sites restoration 
and in part after the closure of the landfill sites aftercare over a period up to 60 years from the site closure dates 
aftercare expenditure relates to items such as monitoring gas and leachate management and may be influenced 
by changes in legislation and technology the provision is based on management’s best estimate of the annual costs 
associated with these activities over the 60 year period using current costs and discounted using a discount rate of 
3
the capping provision reflects the expected costs of capping established and active landfill cells capping is required 
following the end of a cell’s useful economic life and the build up of the provision is based on the rate of use of the 
available void space within each cell during the year £601000 has been released 2012 £222000 provided to reflect 
the latest cost of capping the cell volumes consumed this provision is not discounted as the costs are expected to be 
incurred shortly after consumption of the void
the other provisions relate to a tyre provision which is anticipated to be utilised during the next landfill cell construction 
cycle 
19 share capital
 
2013
£’000
2012
£’000
authorised – 103000000 2012 103000000 shares of 10p 10300 10300
allotted called up and fully paid – 99699414 2012 99699414 shares of 10p 9970 9970 93
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
20 reserves
group
special profit 
reserve
£’000
retained 
earnings
£’000
total
£’000
at 1 january 2013 32076 6913 38989
total comprehensive income for the year — 1787 1787
reserve transfer note 20 4374 4374 —
dividend note 7 — 249 249
acquisition of subsidiary — 118 118
share based payments note 20 — 88 88
deferred tax on share based payments — 29 29
at 31 december 2013 36450 738 37188
company
special profit 
reserve
£’000
retained 
earnings
£’000
total
£’000
at 1 january 2013 32076 306 32382
total comprehensive income for the year — 4847 4847
reserve transfer note 20 4374 4374 —
dividend note 7 — 249 249
share based payments note 20 — 88 88
deferred tax on share based payments — 25 25
at 31 december 2013 36450 643 37093
at the annual general meeting on 8 june 2012 the shareholders approved the capital reduction of augean plc the 
company this was subsequently confirmed by the high court on 4 july 2012 to effect this reduction the share 
premium account of the company was be cancelled creating a special profit reserve in the company and group 
balance sheets this reduction was transferred to retained earnings to the extent to which it cancelled existing losses 
the remaining share premium was transferred to a special profit reserve in addition profits of the company which 
were realised prior to 4 july 2012 were transferred to the special profit reserve
during 2013 the group undertook an exercise to strike off dormant subsidiary entities as part of that reorganisation 
dividends or £4374000 were paid up from these subsidiaries to augean plc in line with the terms of the high court 
order these amounts have been transferred to the special profit reserve 94
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
21 share based payments
at 31 december 2013 outstanding awards to subscribe for ordinary shares of 10p each in the company granted in 
accordance with the rules of the augean share option schemes and the augean ltip  were as follows
exercise or vesting date
exercise 
price
at 
1 january 
2012 granted exercised lapsed
at 
31 december 
2013
augean share option schemes
december 2004 – december 2014 1800p 700000 —— — 700000
december 2013 – december 2019 395p 1810122 —— — 1810122
may 2011 – may 2021 290p 1496552 —— — 1496552
august 2013 – august 2023 400p — 1000000 — — 1000000
 4006674 1000000 — — 5006674
weighted average exercise price 601p 400p — — 561p
of which exercisable 2510122 2510122
weighted average exercise price 493p 493p
outstanding awards at 31 december 2012 were as follows
exercise or vesting date
exercise 
price
at 
1 january 
2012 granted exercised lapsed
at 
31 december 
2013
augean share option schemes
december 2004 – december 2014 1800p 700000 —— — 700000
december 2012 – december 2019 395p 1810122 —— — 1810122
may 2011 – may 2021 290p 1496552 —— — 1496552
 4006674 —— — 4006674
augean ltip
11 june 2012 – 11 june 2015 100p — 1534000 — 1534000 —
 — 1534000 — 1534000 —
 4006674 1534000 — 1534000 4006674
weighted average exercise price 601p 100p — 100p 601p
of which exercisable 700000 2510122
weighted average exercise price 1080p 493p
share option scheme equity settled
on 12 august 2013 the group established a share option programme that entitled the group’s chief executive to 
purchase shares in the company these options were granted on similar terms to the 12 may 2011 and 21 december 
2009 grants except for the exercise price
the fair value of remaining share options has been calculated using the black scholes model the assumptions used in 
the calculation of the fair value of the share options outstanding during the year were 95
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
2013 
share options
2011 
share options
 2009 
share options
grant date 12 august 2013 20 may 2011 21 december 2009
exercise period august 2016 –
august 2023
may 2014 –
may 2021
december 2014 –
december 2019
share price at grant date 400p 289p 395p
exercise price 100p 290p 395p
shares under option 1000000 1496552 1810112
expected volatility 35 35 43
expected life years 4 years 4 years 4 years
riskfree rate 187 23 25
expected dividend yield 059 00 00
fair value per option £030 £009 £014
expected volatility was determined by reviewing the historical volatility of the company’s share price since its formation 
by comparison to the average volatility of comparable listed companies
the riskfree rate of return is the yield on zero coupon uk government bonds of a term equal to the expected term of 
the options
the share options have a vesting period of three years but no market or nonmarket performance criteria attached to 
them rights under the share option scheme are usually forfeited if the employee leaves the group of his or her own 
accord before the rights vest
for options outstanding at 31 december 2013 the weighted average remaining contractual life is 646 years 2012 
666 years
22 operating lease commitments
the group has commitments to make minimum lease payments under noncancellable operating leases as follows
 
2013
£’000
2012
£’000
plant and machinery
payments due
– within one year 456 263
– within two to five years 880 298
 1336 561
land and buildings
payment due
– within one year 414 444
– within two to five years 1428 1722
– after five years 3242 1670
 5084 3836 96
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
23  reconciliation of operating profit to net cash  
generated from operating activities
group company
2013
£’000
2012
£’000
represented
2013
£’000
2012
£’000
operating profit 4891 4355 966 900
loss from discontinued operations 5302 1467 68 38
amortisation of intangible assets 71 40 — —
depreciation 2671 3261 93 84
impairment 3870 — — —
aftercare provisions 19 66 — —
earnings before interest tax depreciation and amortisation 
ebitda 6220 6255 1127 1022
share based payments 88 130 88 130
increase in inventories 78 1 — — 
increasedecrease in trade and other receivables 1262 565 501 550
decrease in net payables from subsidiary undertakings — — 7782 635
decreaseincrease in trade and other payables 930 1 54 275
decrease in provisions 17 —
— —
loss on disposal of property plant and equipment 53 —
— —
cash generated fromused in operations 5862 5818 7122 962
interest paid 629 479 705 590
tax paidrefunded 316 744 187 406
net cash generated fromused in operating activities 4917 4595 7640 34
24 analysis of changes in net debt
the table below presents the net debt of the group at the balance sheet date
31 december 
2012 
£’000
cash flow 
£’000
31 december 
2013
£’000
cash and cash equivalents 5 537 542
overdraft 549 549 —
bank loans due after one year 5175 3734 8909
finance leases 397 273 124
net debt 6116 2375 8491 97
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
25 non controlling interest
on 22 may 2013 augean plc acquired an additional 11 of the share capital of augean north sea services limited 
anss by way of a debt for equity swap the group cancelled debts of £312k with scomin omnitools europe ltd in 
consideration for this share
£’000
balance at 1 january 2012 —
share of profit for year 14
acquisition of subsidiary 1105
balance at 1 january 2013 1119
share of profit for year 108
adjustment arising from change in non controlling interest 431
balance at 31 december 2013 796
26 financial instruments
the financial assets of the group and company are categorised as follows
group company
as at 31 december 2013
loans and 
receivables 
£’000
non
financial 
assets
£’000
total 
£’000
loans and 
receivables 
£’000
non
financial 
assets 
£’000
total 
£’000
goodwill — 19602 19602 — — —
other intangible assets — 198 198 — 187 187
investments in subsidiaries — — — — 57943 57943
investment in jointly controlled entity — 5 5 — 512 512
property plant and equipment — 40192 40192 — 788 788
deferred tax asset — 1143 1143 — 104 104
inventories — 296 296 — — —
trade and other receivables 8218 1588 9806 — 4755 4755
current tax asset — — — — 136 136
cash and cash equivalents 542 — 542 — — —
 8760 63024 71784 — 64425 64425
group company
as at 31 december 2012
loans and 
receivables 
£’000
non
financial 
assets 
£’000
total 
£’000
loans and 
receivables 
£’000
non
financial 
assets 
£’000
total 
£’000
goodwill — 21705 21705 — — —
other intangible assets — 123 123 — 109 109
investments in subsidiaries — — — — 57631 57631
investment in jointly controlled entity — 8 8 — 502 502
property plant and equipment — 39561 39561 — 817 817
deferred tax asset — 1231 1231 — 41 41
inventories — 218 218 — — —
trade and other receivables 7254 1614 8868 — 916 916
current tax asset — — — — 209 209
assets held for resale — 200 200 — 209 209
cash and cash equivalents 5 — 5 — — —
 72596446071719—6022560225 98
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
26 financial instruments continued
the financial liabilities of the group and company are categorised as follows
group company
as at 31 december 2013
financial 
liabilities at 
amortised 
cost 
£’000
liabilities 
not within 
scope 
of ias 39 
£’000
 balance 
sheet 
total 
£’000
financial 
liabilities at 
amortised 
cost 
£’000
liabilities 
not within 
scope 
of ias 39 
£’000
balance 
sheet 
total 
£’000
trade and other payables – current 6714 2316 9030 589 239 828
current tax liabilities — 345 345 — — —
financial liabilities – current 114 — 114 7625 — 7625
financial liabilities – noncurrent 8919 — 8919 8909 — 8909
provisions — 6622 6622 — — —
 15747 9283 25030 17123 239 17362
group company
as at 31 december 2012
financial 
liabilities at 
amortised 
cost 
£’000
liabilities 
not within 
scope 
of ias 39 
£’000
 balance 
sheet 
total 
£’000
financial 
liabilities at 
amortised 
cost 
£’000
liabilities 
not within 
scope 
of ias 39 
£’000
balance 
sheet 
total 
£’000
trade and other payables – current 6510 1769 8279 9215 223 9438
current tax liabilities — 197 197 — — —
financial liabilities – current 549 288 837 3260 — 3260
financial liabilities – noncurrent 5175 108 5283 5175 — 5175
provisions — 7045 7045 — — —
 122349407216411765022317873
the group and company’s financial liabilities have contractual maturities including interest payments where applicable 
which are summarised below as these amounts are the contractual undiscounted amounts they do not agree to the 
amounts shown in the balance sheet for financial liabilities
group
as at 31 december 2013
amounts 
due in 
less than 
one year 
£’000
amounts 
due in 
second to 
fifth year 
£’000
total 
financial 
liabilities 
£’000
trade and other payables – current 9030 — 9030
financial liabilities – current 114 — 114
financial liabilities – noncurrent — 8960 8960
total 9144 8960 18104
as at 31 december 2013
amounts 
due in 
less than 
one year 
£’000
amounts 
due in 
second to 
fifth year 
£’000
total 
financial 
liabilities 
£’000
trade and other payables – current 8279 — 8279
financial liabilities – current 837 — 837
financial liabilities – noncurrent 214 5606 5820
total 9330 5606 14936 99
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
company
as at 31 december 2013
amounts 
due in 
less than 
one year 
£’000
amounts 
due in 
second to 
fifth year 
£’000
total 
financial 
liabilities 
£’000
trade and other payables – current 828 — 828
financial liabilities – current — 7625 7625
financial liabilities – noncurrent — 8909 8909
 828 16534 17362
as at 31 december 2013
amounts 
due in 
less than 
one year 
£’000
amounts 
due in 
second to 
fifth year 
£’000
total 
financial 
liabilities 
£’000
trade and other payables – current 9438 — 9438
financial liabilities – current 3260 — 3260
financial liabilities – noncurrent 214 5606 5820
 12912 5606 18518
financial risk management objectives and policies
overview
the group has exposure to the following risks arising from financial instruments
 liquidity risk
 credit risk and
 interest rate risk
the majority of the group’s transactions take place in sterling one contract is transacted in dollars and this small 
currency risk is managed using spot transactions
the management of the group’s financial risks and the related objectives and policies are the responsibility of the 
executive directors the directors regularly review the group’s financial risk management policies and procedures to 
ensure that they appropriately reflect the changing nature of the market and business the group through its training 
and management standards and procedures aims to develop a disciplined and constructive control environment in 
which all employees understand their roles and obligations the group has maintained its policy that no trading in 
financial instruments shall be undertaken
the group’s principal financial instruments during the period comprised bank loans cash and cash equivalents and 
finance leases the main purpose of these financial instruments is to finance the group’s operations the group’s other 
financial instruments include short term receivables and payables which arise directly from its operations there was no 
material difference between the fair value of the financial assets and financial liabilities and their book value 100
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
26 financial instruments continued
liquidity risk
liquidity risk is the risk that the group will encounter difficulty in meeting the obligations associated with its financial 
liabilities that are settled by delivering cash or another financial asset the group seeks to maintain a balance between 
continuity of funding and flexibility the objective is to maintain sufficient resources to meet the group’s funding needs 
for the foreseeable future at 31 december 2013 the group carried debt of £9032000 2012 £6296000 and short 
term flexibility is achieved through bank facilities comprising a £10m revolving credit and overdraft facility 
credit risk
credit risk is the risk of financial loss to the group if a customer or counterparty to a financial instrument fails to meet its 
contractual obligations and arises principally from the group’s receivables from customers
the group has a robust customer credit policy in place and the exposure to credit risk is monitored on a daily basis 
the group’s standard credit terms are 30 days from date of invoice invoices greater than 30 days old are assessed as 
overdue the maximum exposure to credit risk is the carrying value of each financial asset included on the statement of 
financial position as summarised below
group company
2013
£’000
2012
£’000
2013
£’000
2012
£’000
cash and cash equivalents 542 5 — —
trade and other receivables 9806 8868 1095 916
 10348 8873 1095 916
at 31 december 2013 £46m 2012 £43m of the group’s trade receivables were past due a provision of £01m 
2012 £01m is held to mitigate the exposure to potential bad and doubtful debts
the ageing of the group’s trade receivables past their due date but not impaired is as follows
 
2013
£’000
2012
£’000
greater than one but not more than four months old 3164 3733
more than four months old 319 532
total past due trade receivables 3483 4265
trade receivables not yet past due – less than one month old 4735 2989
total gross trade receivables 8218 7254
bad debt provision 75 75
total net trade receivables note 14 8143 7179
the group’s management considers that all the above financial assets that are not impaired or past due for each of the 
reporting dates under review are of good quality
the company has no trade receivables 101
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
the movement on the bad debt provision in the period is analysed below the group provides for bad debts on a 
specific basis with reference to the age profile of the trade receivables held at the year end
£’000
bad debt provision as at 31 december 2012 75
amounts utilised 54
amounts provided 54
bad debt provision as at 31 december 2013 75
interest rate risk
the group finances its operations through a mixture of free cash flow overdraft facilities bank borrowings and hire 
purchase leasing due to the relatively low level of the group’s borrowings no interest rate swaps or other forms of 
interest risk management have been undertaken the group regularly reviews its exposure to fluctuations in underlying 
interest rates and will take appropriate action if required to minimise any impact on the performance and financial 
position of the group
the interest rate profile of the group and company’s financial liabilities at 31 december 2013 was
group
floating 
rate 
£’000
total 
£’000
bank loans 8909 8909
finance leases 123 123
at 31 december 2013 9032 9032
at 31 december 2012 5572 5572
company
floating 
rate 
£’000
total 
£’000
bank loans 8909 8909
finance leases ——
at 31 december 2013 8909 8909
at 31 december 2012 5175 5175
the interest rate on the floating rate borrowings was 27 2013 27 above libor in march 2014 the group 
renegotiated its overdraft and loan facilities with hsbc until 7 march 2017 the facility is structured as a £5m term loan 
which attracts an interest rate of 225 above libor and a £10m revolving credit facility which attracts an interest 
charge which varies between 195 and 275 above libor a change in interest rate of 05 affects the annual 
interest cost for both the group and company by approximately £40000 2012 £25000 
the hire purchase agreements of the group under a floating rate contract have a weighted average interest rate of 
35 2013 24 and a weighted average duration of 1 2012 4 years the group no longer has any hire purchase 
agreements under a fixed rate contract 
the maturity profile of the group’s financial liabilities is shown in note 16
the board recognises that there is continuing debate as to how to deal with the european sovereign debt and banking 
crisis and this is borne in mind throughout all key strategic decision making processes the board feels that the current 
risk management policies described above continue to be appropriate but they will be regularly assessed to ensure this 
remains the case 102
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
26 financial instruments continued
capital management policies and procedures
the group defines the capital that it manages as the group’s share capital and financial liabilities as shown in the table 
below
note
2013
£’000
2012
£’000
share capital 18 9970 9970
financial liabilities 16 9033 6121
19003 16091
the group’s capital management objectives which have remained unchanged during the year are
 to ensure the group’s ability to continue as a going concern and
 to provide a strong ﬁnancial base to deliver growth and adequate return to shareholders
the group’s primary sources of capital are equity statement of changes in shareholders’ equity bank debt and finance 
leases note 23 secured against certain assets by pricing products and services commensurately with the level of risk 
and focusing on the effective collection of cash from customers the group aims to maximise revenues and operating 
cash flows cash flow is further controlled by ongoing justification monitoring and reporting of capital investment 
expenditures and regular monitoring and reporting of operating costs working capital fluctuations are managed 
through employing the overdraft facility available which at the year end was nil 2012 £549000
in 2012 the capital structure of the group was altered by way of a capital reduction the capital reduction has reduced 
retained losses in the group by eliminating the share premium account this has allowed the group to be in a position 
to pay dividends from distributable reserves note 8 
the group considers that the current capital structure will provide sufficient flexibility to ensure that appropriate 
investment can be made if required to implement and achieve the longer term growth strategy of the group the 
primary source of funding would be achieved through drawing on the recently renewed loan facility which has £15m of 
headroom at 31 december 2013 2012 £47m under the facility in place with hsbc from 7 march 2014 this would be 
£61m of headroom
management sets targets against the following measures and monitors the group’s performance against each 
throughout the year
 bank facility covenants which include net debt to ebitda and ebit to net debt costs
 net debt to equity ratio and
 free cash ﬂow generated
the performance against each of these capital measures is shown in the table below
2013
actual
2013
target
2012
£’000
net debt to ebitda 13 25 09
ebit to net debt costs 123 25 133
net debt to equity  180 — 125
free cash flow £’000s 2253 — 674 103
our financials
augean plc annual report and accounts for the year ended 31 december 2013
our financials
the level of free cash flow for 2013 reflects a number of one off investments in the business which were required during 
the year these included investment in cell construction at enrmf and port clarence and in the development of the itd 
plant
the value of net debt and free cash flow is monitored on a daily basis and balances of finance leases are reviewed 
monthly as repayments are made and balances reduce
free cash flow represents net operating cash flows adjusted for capital investment and finance lease repayments this 
is reconciled to the statement of cash flows as follows
 
2013
£’000
2012
£’000
net operating cash flow note 22 4917 4595
purchase of property plant and equipment 6898 3585
repayments of obligations under finance leases 272 336
free cash flow 2253 674
27 retirement benefit obligations
the group operates defined contribution retirement benefit schemes for all qualifying employees the assets of the 
schemes are held separately from those of the group in funds under the control of trustees where there are employees 
who leave the schemes prior to vesting fully in the contributions the contributions payable by the group are reduced by 
the amount of forfeited contributions
the total cost charged to income of £392000 2012 £280000 represents contributions payable to these schemes 
by the group at rates specified in the rules of the schemes as at 31 december 2013 contributions of £11000 2012 
£30000 due in respect of the current reporting period had not been paid over to the schemes
28 contingent liabilities and cross guarantees
in accordance with pollution prevention and control ppc permitting the group has to make such financial provision 
as is deemed adequate by the environment agency to discharge its obligations under the relevant site permits for 
its landfill sites consequently guarantees have been provided in favour of the environment agency in respect of the 
group’s landfill sites total guarantees outstanding at the year end were £81m 2012 £73m future site restoration 
costs for each landfill site have been provided as disclosed in note 18
the group suffered an incident at its cannock site in november 2010 which resulted in an explosion in one of the 
on site treatment processes after investigation by the environment agency and health and safety executive both 
agencies have confirmed that they will take no further action as a result of their investigations 
the group is involved in litigation with the previous owners of hitech limited a business that augean acquired 
during 2008 augean has lodged a claim of up to £25m against the previous owners based on breach of warranties 
contained in the sale and purchase agreement for the hitech transaction the defendants have lodged a counterclaim 
relating to nonpayment of an earnout of up to £07m following the transfer of the business
based on legal advice we remain confident in the strength of augean’s claim and defence and on this basis no 
provision has been made in these accounts 104
wwwaugeanplccom stock code aug
notes to the financial statements continued
for the year ended 31 december 2013
29 related party disclosures 
ias 24 ‘related party transactions’ requires the disclosure of the details of material transactions between reporting 
entities and related parties the group has taken advantage of the exemption under ias 24 not to disclose transactions 
between subsidiaries which are eliminated on consolidation 
related party transactions of the group which are not eliminated on consolidation and related party transactions of the 
company are both as follows
transactions and balances with jointly controlled entity 
group 
2013
£’000
2012
£’000
transactions with terramundo limited
– revenue — —
– costs — —
amounts owed by terramundo limited
– more than one year 512 502
 512 502
the balance owed by terramundo limited to augean is classified as a noncurrent asset this reflects augean’s 
investment in the long term future of the venture and the expectation that this balance will be recovered in more than 
12 months from the balance sheet date when terramundo starts to trade generating profits from which it can repay its 
liabilities to its parent companies this classification will be reassessed further details regarding terramundo limited 
are disclosed in note 9
related party transactions of the company are noted below
 
2013
£’000
2012
£’000
amounts owed to terramundo limited
– less than one year — —
amounts owed by terramundo limited
– more than one year 512 502
 512 502
transactions and balances with subsidiary undertakings — company
included within current trade and other payables note 16 are amounts owed to 100 subsidiary undertakings of 
£04m 2013 £89m these amounts are repayable on demand
the movement in the company’s balances with its subsidiaries reflects the group’s banking facilities and arrangements 
operating during the year
30 post balance sheet events
on 7 march 2014 the sale of the site at hinckley was completed realising total proceeds of £400000 on 21 march 
2014 the sale of the sites at rochdale and worcester were completed realising total proceeds of £800000 there was 
no profit or loss on disposal subsequent to the impairment recognised in these financial statements
on 7 march 2014 the group’s debt facility was renewed and increased as described in note 26 105
augean plc annual report and accounts for the year ended 31 december 2013
s s s s s sh h h ha ar r r r r re e e eh h h ho o o o o ol l l l l ld d d d d de e e e e e e er r r r r r r
i i in n n nf f f f f fo o o o o or r r r r rm m m m m ma a a at t t ti i i io o o o o o o on n n n n n n 106
wwwaugeanplccom stock code aug
notice of annual general meeting
we are pleased to write to you with details of our 2014 annual general meeting agm which will be held at the offices 
of fti consulting 9th floor 200 aldersgate aldersgate street london ec1a 4hd on thursday 5 june 2014 at 
1000am the formal notice of annual general meeting is set out on pages 107 to 108 of this document
in addition to the routine business of the agm there are two items of special business to be transacted as summarised 
and explained below
authority to allot shares resolution 7
article 46a of the company’s articles of association contains a general authority for the directors to allot shares in the 
company for a period not exceeding five years the section 551 prescribed period and up to a maximum aggregate 
nominal amount the section 551 amount approved by a special or ordinary resolution of the company 
the existing authority to allot shares granted at the company’s last annual general meeting is due to expire at the agm
resolution 7 which will be proposed as an ordinary resolution seeks to renew the allotment authority so that the 
section 551 amount shall be £332331380 being an amount equal to one third of the issued ordinary share capital 
of the company at the date of this document and the section 551 prescribed period shall be the period from the date 
resolution 7 is passed to 30 june 2015 or the conclusion of the company’s next annual general meeting whichever is 
earlier 
disapplication of preemption rights resolution 8
article 46b of the company’s articles of association empowers the directors for a period not exceeding five years 
the section 561 prescribed period to allot shares for cash in connection with a rights issue and also to allot shares 
in any other circumstances up to a maximum aggregate nominal amount approved by a special resolution of the 
company the section 561 amount without having to comply with statutory preemption rights
the existing authority to disapply preemption rights granted at the company’s last annual general meeting is due to 
expire at the agm
resolution 8 which will be proposed as a special resolution and which will only be effective if resolution 7 is 
passed seeks to renew the disapplication authority so that the section 561 amount shall be £498497 representing 
approximately 5 of the company’s issued share capital at the date of this document and the section 561 prescribed 
period shall be the period from the date resolution 8 is passed to 30 june 2015 or the conclusion of the company’s 
next annual general meeting whichever is earlier
action to be taken by shareholders
whether or not you intend to be present at the agm you are requested to complete and submit a proxy appointment 
in accordance with the notes to the notice of agm set out on page 108 to be valid the proxy appointment must 
be received at the address for delivery specified in the notes by no later than 1000am on tuesday 3 june 2014 the 
completion and return of a proxy appointment form will not preclude you from attending and voting at the meeting 
should you so wish a hard copy proxy appointment form is enclosed for your use 
recommendation
the directors consider that the proposals set out above are in the best interests of the company and its shareholders 
as a whole they recommend that you vote in favour of the resolutions set out in the notice of meeting as they intend to 
do in respect of their own beneficial holdings
  107
augean plc annual report and accounts for the year ended 31 december 2013
shareholder information
notice is hereby given that the 2014 annual general meeting of augean plc the “company” will be held at the 
offices of fti consulting 9th floor 200 aldersgate aldersgate street london ec1a 4hd on thursday 5 june 2014 
at 1000am for the purpose of considering and if thought fit passing the resolutions set out below resolution 8 will be 
proposed as a special resolution all other resolutions will be proposed as ordinary resolutions
1  that the reports of the directors and the auditors and the audited financial statements for the year ended  
31 december 2013 be received
2 that jim meredith be reelected as a director of the company
3 that dr stewart davies be elected as a director of the company
4  that grant thornton uk llp be reappointed auditors of the company to hold office until the next meeting at 
which accounts are laid before the company
5 that the directors be authorised to determine the auditors’ remuneration
6 that a dividend of 035 pence per share be declared
7  that the authority to allot shares and grant rights to subscribe for or to convert any security into shares conferred 
on the directors by article 46a of the company’s articles of association be granted for the period commencing on 
the date of the passing of this resolution and expiring on 5 december 2015 or at the conclusion of the company’s 
next annual general meeting whichever is the earlier and for that period the section 551 amount is £332331380
8  that subject to the passing of resolution 7 the power to allot equity securities as if s5611 of the companies act 
2006 did not apply to any such allotment conferred on the directors by article 46b of the company’s articles of 
association be granted for the period commencing on the date of the passing of this resolution and expiring on  
5 december 2015 or at the conclusion of the company’s next annual general meeting whichever is the earlier and 
for that period the section 561 amount is £498497  
by order of the board
richard allen acma 
company secretary 
25 march 2014
registered office 
4 rudgate court 
walton 
near wetherby 
west yorkshire 
ls23 7bf 108
wwwaugeanplccom stock code aug
notes
a  only those shareholders entered on the relevant register of members the “register” for certificated or uncertificated shares of the 
company as the case may be at 600pm on tuesday 3 june 2014 the “specified time” will be entitled to attend and vote at the 
agm in respect of the number of shares registered in their name at the time changes to entries on the register after the specified 
time will be disregarded in determining the rights of any person to attend and vote at the agm  
b  any member may appoint a proxy to attend speak and vote on hisher behalf a member may appoint more than one proxy in 
relation to the agm provided that each proxy is appointed to exercise the rights attached to a different share or shares of the 
member but must attend the meeting in person a proxy need not be a member completion of a proxy appointment form does not 
prevent a member from attending and voting in person if heshe is entitled to do so and so wishes
c  hard copy appointment of proxies a hard copy proxy appointment form is enclosed for use at the agm to be valid it must 
be completed in accordance with the instructions that accompany it and delivered together with any authority under which it is 
executed or a copy of the authority certified notarially by post or during normal business hours only by hand to computershare 
investor services plc the pavilions bridgwater road bristol bs99 6zy so as to be received no later than 1000am on tuesday  
3 june 2014 
  to appoint more than one proxy you may photocopy the hard copy proxy form please indicate the proxy holder’s name and the 
number of shares in relation to which they are authorised to act as your proxy which in aggregate should not exceed the number 
of shares held by you please also indicate if the proxy instruction is one of multiple instructions being given all forms must be 
signed and should be returned together in the same envelope  
d  electronic appointment of proxies as an alternative to completing the hardcopy proxy form you can appoint a proxy electronically 
by going to wwweproxyappointmentcom you will be asked to enter the control number the shareholder reference number 
and pin all found on the front sheet your hard copy proxy form for an electronic proxy appointment to be valid your electronic 
message confirming the details of the appointment in accordance the relevant instructions must be transmitted so as to be received 
by computershare investor services plc no later than 1000am on tuesday 3 june 2014
e  appointment of proxies through crest crest members who wish to appoint a proxy or proxies by utilising the crest electronic 
proxy appointment service may do so for the agm and any adjournments of it by using the procedures described in the crest 
manual available from httpswwweuroclearcomsitepubliceui crest personal members or other crest sponsored 
members and those crest members who have appointed a voting service providers should refer to their crest sponsor or 
voting service providers who will be able to take the appropriate action on their behalf
  in order for a proxy appointment made by means of crest to be valid the appropriate crest message a “crest proxy 
instruction” must be properly authenticated in accordance with euroclear uk  ireland limited’s “eui” specifications and must 
contain the information required for such instructions as described in the crest manual the message must be transmitted so as 
to be received by computershare investor services plc as the issuer’s agent id reference 3ra50 by 1000am on tuesday 4 june 
2013 for this purpose the time of receipt will be taken to be the time as determined by the timestamp applied to the message 
by the crest applications host from which the issuer’s agent is able to retrieve the message by enquiry to crest in the manner 
prescribed by crest
  crest members and where applicable their crest sponsors or voting service providers should note that eui does not make 
available special procedures in crest for any particular messages normal system timings and limitations will therefore apply in 
relation to the input of crest proxy instructions it is the responsibility of the crest member concerned to take or if the crest 
member is a crest personal member or sponsored member or has appointed a voting service providers to procure that his 
crest sponsor or voting service providers takes such action as shall be necessary to ensure that a message is transmitted 
by means of the crest system by any particular time in this connection crest members and where applicable their crest 
sponsors or voting service providers are referred in particular to those sections of the crest manual concerning practical 
limitations of the crest system and timings
  the company may treat as invalid a crest proxy instruction in the circumstances set out in regulation 355a of the uncertificated 
securities regulations 2001
f  any corporation which is a member can appoint one or more corporate representatives who may exercise on its behalf all of its 
powers as a member provided that they do not do so in relation to the same shares any such representative should bring to the 
meeting written evidence of his appointment such as a certified copy of a board resolution of or a letter from the corporation 
concerned confirming the appointment
g  website giving information regarding the agm is available from wwwaugeanplccom a member may not use any electronic 
address provided by the company in this document or with any proxy form or in any website for communicating with the company 
for any purpose in relation to the agm other than as expressly stated in it 
h  as at 24 march 2014 being the last business day prior to the publication of this document the company’s issued share capital 
consisted of 99699414 ordinary shares of £010 each carrying one vote each therefore the total voting rights in the company 
as at 24 march 2014 are 99699414
notice of annual general meeting continued printed on cocoon silk 50
a recycled paper containing 50 recycled waste and 50 virgin fibre and manufactured  
at a mill certified with iso 14001 environmental management standard
the pulp used in this product is bleached using an elemental chlorine free process ecf
augean plc annual report and accounts for the year ended 31 december 2013
shareholder information
secretary
richard allen acma
registered office 
4 rudgate court 
walton 
wetherby 
west yorkshire ls23 7bf
registered number
5199719 
incorporated and registered in england and wales
website
wwwaugeanplccom
broker and nominated adviser
n1 singer capital markets
one bartholomew lane 
london ec2n 2ax
auditor
grant thornton uk llp
no 1 whitehall riverside 
whitehall road 
leeds ls1 4bn
solicitors
walker morris
kings court 
12 king street 
leeds ls1 2hl
bankers
hsbc bank plc
city point 
29 king street 
leeds ls1 2hl
registrars
computershare investor services plc
the pavilions 
bridgwater road 
bristol bs13 8ae
advisers and company information augean plc
4 rudgate court
walton
wetherby
west yorkshire ls23 7bf
tel 01937 844980
fax 01937 844241
wwwaugeanplccom
contactaugeanplccom
contacting augean
to ﬁnd out about how augean can help
your business call us on 01937 844980
fax us on 01937 844241 or email us
at contactaugeanplccom to arrange
for a sales adviser to call you


Summary:
 revenue
£47123m 
11 2012 £42421m
adjusted pbt
£3172m 
22 2012 £2603m
ebitda
£6220m 
1 2012 £6255m
adjusted eps 
from continuing operations 
329p 
15 2012 286p
02
wwwaugeanplccom stock code aug
highlights
financial highlights
 adjusted proﬁt before tax for the group of £32m 
2012 £26m
 revenue from continuing operations increased by 19 
to £435m 2012 £367m 
 adjusted proﬁt before tax for continuing operations 
increased by 12 to £44m 2012 £39m
 adjusted earnings per share from continuing 
operations were 329p 2012 286p
 operating cash ﬂows of £59m supported capital 
expenditure and an increased equity stake in augean 
north sea services 2012 £58m
 proposed dividend of 035p per share 2012 025p
operational highlights
 improved performance from continuing operations 
driven by growth in key markets
 — reduction to total landﬁll volumes within land resources 
offset by disposal of higher margin waste
 — strong growth at augean north sea services ahead of 
board’s original targets
 — oil  gas services delivered positive ebitda and reduced 
year on year losses
 — east kent incinerator performance impacted by mechanical 
issues until quarter four
strategic developments
 closure of waste network division
 creation of augean integrated services business to 
focus on total waste management
 creation of radioactive waste services business to 
widen radioactive waste disposal opportunities
 purchase of a further stake in augean north sea 
services taking shareholding to 81
 long term planning permission secured at east 
northants resource management facility and 
thornhaugh landﬁll sites
post period end 
 sale of certain waste network sites for a consideration 
of £12m
 renewal of banking facilities through to july 2017 
providing debt funding of £150m
read more about our strategy on pages 14 and 15
key figures
£m unless stated
31 dec 
2013
31 dec
2012
change

combined continuing and discontinued operations
revenue 47123 42421 11
adjusted pbt 3172 2603 22
ebitda 6220 6255 1
operating cash flow 5862 5818 1
net debt 8491 6116 39
continuing operations only
revenue from continuing operations 43488 36694 19
adjusted pbt from continuing operations 4431 3939 12
adjusted earnings per share from continuing operations 329p 286p 15
proposed dps 035p 025p 40