Finance News

TWMA Announces Continued Growth with First-Quarter 2024 Results

Specialist drilling waste management company, TWMA*, has posted its first quarter 2024 earnings of $18.3 million and EBITDA (earnings before interest, depreciation and amortisation) of $4.7 million.

Reinforcing its continued global growth, this month the Group secured a significant multi-million dollar contract for its UAE drilling operations. Operating in the region for over a decade, this two-year contract strengthens TWMA’s position as a market leader supporting operators’ carbon footprint and operational efficiencies with its RotoMill** offshore processing technology.

The Group operates globally, with a vision to turn drilling waste into a valuable resource for clients in key regions throughout the UK, Middle East, Norway, and the US.

TWMA Chief Executive Officer, Halle Aslaksen, said: “The first-quarter 2024 results recognize the continued growth, specifically in our global operations, where we continue to invest in our people and expertise. We are passionate about the environmental benefits that our RotoMill technology delivers to our clients’ drilling projects and the value we bring the industry is reflected in our positive results and investment.

“We are looking forward to a successful 2024 with more exciting projects and growth in our team and operations worldwide.”

Earlier this year, TWMA announced that it has closed a $62.5million Sustainability Linked Bond on the Nordic ABM in Oslo.

*TWMA® is a registered trademark and the brand name for the TWMA group of companies including Total Waste Management Alliance Limited.

**Rotomill is a registered trademark of Total Waste Management Alliance Limited (“TWMA”).

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