A message from the President
March 2013
I am pleased to be able to report that 2012 was the strongest year in US Ecology history with new records set for treatment and disposal revenue, operating income, net income and adjusted EBITDA. These record results reflect strong performance across our business and were driven by an increasingly diverse customer base, an expanded service offering and operational efficiencies, which will also serve to support our growth and the sustainability of our earnings in the years ahead.
In addition to our financial accomplishments during the year, we executed on several of our key strategic growth objectives. In June 2012 we added US Ecology Michigan to our family of companies. This acquisition further increases our service offerings and capabilities and provides a physical presence in a key Midwest industrial market. In addition, after working closely with our regulators and customers on permit modifications over the last several years, we received the first radioactive waste shipment from a nuclear fuel fabrication decommissioning project at our Idaho facility. This major milestone has already enabled us to land other opportunities from nuclear power related clean-up projects, further expanding our radioactive capabilities to our customers.
2013 will bring new and exciting opportunities for US Ecology and I look forward to what lies ahead. With our team's focused execution on operational excellence, process improvements and companywide initiatives, we are optimistic 2013 will be another record year. With an improving economy, multiple clean-up projects under contract and shipping, a solid pipeline of opportunities and a best-in-class team, the wind is at our back.
Strategically, we remain focused on driving revenue, broadening our service offerings and expanding our geographical presence through a combination of organic growth and targeted acquisitions. We will continue to invest in property, equipment, and other upgrades at all of our facilities to maintain "best-in-class" service and operational efficiencies we believe customers have come to expect from US Ecology.
In addition to our focus on solid execution and reinvestment in our facilities, this year we are investing in the customer experience and renewing our customer commitment to provide Unequaled Service Excellence. We will also be looking at ways to deepen our bench strength across the entire organization and you can expect to see some changes and improvements to our organization. Investments in personnel and information systems are under way to improve the interface with our customer and enhance the customer experience. I am committed to this program and believe further enhancements to our "best-in-class" customer service and experience will provide opportunities to drive additional growth, while increasing customer retention.
I am fortunate to be part of such an outstanding organization and remain confident in our collective ability to increase earnings and deliver sustainable long term shareholder value. 2013 looks bright for US Ecology and its shareholders.
Jeff Feeler
President and Chief Operating Officer
