Clean Harbors Inc. (CLH) 2001年年度报告「NYSE」.pdf

1、People and Technology Protecting and RestoringAmericas EnvironmentAnnual Report2001 People and Technology Protecting and RestoringAmericas EnvironmentAnnual Report2001 1365 CH 2002 Annual(Type)3/22/02 9:06 AM Page 2Dear Shareholder:2001 was a pivotal year for Clean Harbors because it set the stage f

2、orwhat we believe will be the most significant positive event for theCompany since it was founded 22 years ago.In essence,the Companyhas emerged as the leader of our industry,and we are now preparedto bring our leadership to a higher level.In 2001,the Company reported record revenue of$251 million.B

3、ut the Clean Harbors Balance Sheet demonstrates something farmore significant than just one years performance.It reflects theculmination of the steady momentum we have achieved over thepast four years,based on our well-executed growth strategy.The Companys revenue growth for the past four years has

4、been 8%compounded annually.Even with the economy in recession in 2001,Clean Harborsincreased its non-emergency base revenue by approximately$7 million as we increased our share of the environmental market.EBITDA grew 16.6%year-over-year,and for the past four years hasgrown over 200%,from$9.5 million

5、 to$29 million at years end.Free-cash flow for 2001 was$17.8 million,and the Company used thatstrong cash flow to reduce debt substantially.Clean Harbors hasreduced its debt by a total of$21.5 million in the past two years.Accounts receivable are in the best shape in more than a decade andDays Sales

6、 Outstanding(DSOs)have been steadily decreasing.Most importantly,we have demonstrated to the marketplace that we are the undisputed leader in technology innovation.CleanHarbors is deploying our enhanced proprietary waste managementsoftware(WIN),which is Web-enabled,by utilizing M technologies.This w