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WASTE MANAGEMENT INTERNATIONAL PLC ANNOUNCES THIRD QUARTER AND NINE MONTHS PROFITS

 WASTE MANAGEMENT INTERNATIONAL PLC ANNOUNCES
 THIRD QUARTER AND NINE MONTHS PROFITS
 Nine months:
 -- Turnover up by 34 percent to 592.8 million pounds sterling
 -- Pretax profits (before minority interests) of 102.7 million pounds, an increase of 55 percent
 -- Net profits increase 55 percent to 58.1 million pounds
 -- Earnings per share of 16.8 pence, up 34 percent
 Third quarter:
 -- Turnover up by 41 percent to 210.9 million pounds
 -- Pretax profits (before minority interests) of 40.1 million pounds, an increase of 62 percent
 -- Net profits increase 61 percent to 22.8 million pounds
 -- Earnings per share of 6.1p, up 30 percent
 OAK BROOK, Ill., Oct. 14 /PRNewswire/ -- In its reporting period for the nine months ended Sept. 30, 1992, Waste Management International plc today announced pretax profits (before minority interests) of 102.7 million pounds sterling, compared with 66.2 million pounds for the comparable 1991 period and pretax profits (before minority interests) of 40.1 million pounds for the three months ended Sept. 30, 1992, compared with 24.7 million pounds for the comparable 1991 period.
 In his statement, Chief Executive Edwin G. Falkman said:
 "The continued growth of the company is especially satisfying given the difficult economic climate which we face. During the quarter we completed the previously announced acquisition of SAKAB in Sweden as well as two acquisitions in the U.K., Loristan and Caird's operations in Aberdeen and one acquisition in the Netherlands, Cord Industriedeinsten. The company also entered into joint ventures with NOAH, a Norwegian government-controlled entity, to jointly manage hazardous waste treatment and disposal activities in Norway, and Minas de Almaden, a government-owned mining company, to develop a hazardous waste treatment platform and landfill in Spain. Our Netherlands waste processing company began operations at its state-of-the-art 24,000-tonne-per-year paint waste treatment facility. The company continues to pursue a number of exciting projects in virtually all of our business lines as well as opportunities which will expand the range of services we offer. We are confident that the company is well-positioned to continue its growth in the future."
 Chief Executive's Statement
 Waste Management International plc continues to achieve significant developments in both existing and new markets internationally. The results for our third quarter show continued internal growth, as well as contributions from earlier-period acquisitions in the United Kingdom, France, Sweden and Finland.
 In the third quarter of 1992, Waste Management International plc's profit increased to 22.8 million pounds, up 61 percent over the comparable period in 1991. Earnings per share rose by 30 percent to 6.1p.
 Profit increased in the nine months ended Sept. 31, 1992, to 58.1 million pounds, up 55 percent over the comparable period in 1991. In the same period, earnings per share rose by 34 percent to 16.8p. Turnover grew 149.7 million pounds, or 34 percent, for the first nine months, and 61.8 million pounds, or 41 percent, for the third quarter, compared to the same periods in 1991.
 The continued growth of the company is especially satisfying given the difficult economic climate which we face. During the quarter we completed the previously announced acquisition of SAKAB in Sweden as well as two acquisitions in the U.K., Loristan and Caird's operations in Aberdeen and one acquisition in the Netherlands, Cord Industriedeinsten. The company also entered into joint ventures with NOAH, a Norwegian government-controlled entity, to jointly manage hazardous waste treatment and disposal activities in Norway, and Minas de Almaden, a government-owned mining company, to develop a hazardous waste treatment platform and landfill in Spain. Our Netherlands waste processing company began operations at its state-of-the-art 24,000-tonne-per-year paint waste treatment facility.
 The company continues to pursue a number of exciting projects in virtually all of our business lines as well as opportunities which will expand the range of services we offer.
 We are confident that the company is well-positioned to continue its growth in the future.
 WASTE MANAGEMENT INTERNATIONAL PLC
 Group Profit and Loss Accounts (Unaudited)
 Three months ended Sept. 30 1992 1991
 (British pound sterling)
 Turnover 210,883,000 149,100,000
 Operating expenses 145,830,000 103,233,000
 Selling and administrative expenses 29,648,000 22,072,000
 Operating profit 35,405,000 23,795,000
 Interest income 5,821,000 3,019,000
 Interest expense (6,648,000) (3,482,000)
 Other income (expense), net 5,506,000 1,401,000
 Profit on ordinary activities
 before taxation 40,084,000 24,733,000
 Tax on profit on ordinary activities 13,383,000 9,085,000
 Profit on ordinary activities
 after taxation 26,701,000 15,648,000
 Minority interests 3,878,000 1,453,000
 Retained profit for the period
 attributable to shareholders 22,823,000 14,195,000
 Average ordinary shares outstanding 375,000,000 300,000,000
 Earnings per ordinary share(A) 6.1p 4.7p
 (A) -- Earnings per ordinary share for 1991 have been computed on the basis of 300 million ordinary shares outstanding after the reorganization of the company in March 1992, and do not include 75 million ordinary shares issued in April 1992 in the company's initial public offering.
 Net income and earnings per ordinary share determined in accordance with United States generally accepted accounting principles (U.S. GAAP) are shown in the following table:
 1992 1991
 (British pound sterling)
 Net income (retained profit)
 as shown above 22,823,000 14,195,000
 Amortization of goodwill (3,354,000) (1,224,000)
 Net income in accordance with
 U.S. GAAP 19,469,000 12,971,000
 Net income per ordinary share
 in accordance with U.S. GAAP 5.2p 4.3p
 For the periods ended Sept. 30, net income per ADS (translated at the average rates of exchange between the pound sterling and the dollar - $1.831 equals 1 pound in 1992 and $1.766 equals 1 pound in 1991) was $.19 in 1992 and $.15 in 1991 for the three months and $.50 in 1992 and $.37 in 1991 for the six months.
 Nine months ended Sept. 30 1992 1991
 (British pound sterling)
 Turnover 592,840,000 443,102,000
 Operating expenses 412,576,000 314,263,000
 Selling and administrative expenses 86,015,000 62,311,000
 Operating profit 94,249,000 66,528,000
 Interest income 14,710,000 12,314,000
 Interest expense (18,989,000) (13,929,000)
 Other income (expense), net 12,761,000 1,320,000
 Profit on ordinary activities
 before taxation 102,731,000 66,233,000
 Tax on profit on ordinary activities 34,135,000 24,103,000
 Profit on ordinary activities
 after taxation 68,596,000 42,130,000
 Minority interests 10,518,000 4,541,000
 Retained profit for the period
 attributable to shareholders 58,078,000 37,589,000
 Average ordinary shares outstanding 345,833,000 300,000,000
 Earnings per ordinary share(A) 16.8p 12.5p
 (A) -- Earnings per ordinary share for 1991 have been computed on the basis of 300 million ordinary shares outstanding after the reorganization of the company in March 1992, and do not include 75 million ordinary shares issued in April 1992 in the company's initial public offering.
 Net income and earnings per ordinary share determined in accordance with United States generally accepted accounting principles (U.S. GAAP) are shown in the following table:
 1992 1991
 (British pound sterling)
 Net income (retained profit)
 as shown above 58,078,000 37,589,000
 Amortization of goodwill (10,436,000) (6,125,000)
 Net income in accordance with
 U.S. GAAP 47,642,000 31,464,000
 Net income per ordinary share
 in accordance with U.S. GAAP 13.8p 10.5p
 For the periods ended Sept. 30, net income per ADS (translated at the average rates of exchange between the pound sterling and the dollar - $1.831 equals 1 pound in 1992 and $1.766 equals 1 pound in 1991) was $.19 in 1992 and $.15 in 1991 for the three months and $.50 in 1992 and $.37 in 1991 for the six months.
 -0- 10/14/92
 /CONTACT: Tom Henderson, 71-493-2554 (U.K.), or (analysts) Joe Holsten, 71-493-2554 (U.K.); or William Plunkett, 708-572-8898, or (analysts) James Koenig, 708-572-8822, all for Waste Management/
 (WMX) CO: Waste Management International plc ST: Illinois IN: SU: ERN


CK -- NY045 -- 9888 10/14/92 12:48 EDT
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Date:Oct 14, 1992
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