Renewi (RWI)

Business description

Renewi is a waste-to-product company with operations primarily in the UK, the Netherlands and Belgium, and activities spanning the collection, processing and resale of industrial, hazardous and municipal waste.

Stock data

Market cap.£755.9m
Last close94.50p
High / Low (52 weeks)106.2p / 80.0p
Stock market listingLN
Forecast net debt (£m)498.7
Forecast gearing ratio (%)105
TeamIndustrials
SectorIndustrial Support Services

Price performance

%1m3m12m
Actual(3.6)8.02.1
Relative *(2.6)9.6(4.1)

* % Relative to local index

Other companies in sector Show

Company news

Shanks to rebrand as Renewi following merger

Tue, 28 Feb 2017 10:58:45 GMT

Renewi targets improvement in UK PFI contracts

Thu, 25 May 2017 11:57:00 GMT

Renewi Municipal Division Reports Trading Loss

Fri, 26 May 2017 09:00:00 GMT

Which Direction is the Data Pointing to For Renewi plc (LSE:RWI)?

Mon, 25 Sep 2017 22:07:30 GMT

Be careful about buying Renewi plc (LSE:RWI) for the 3.5% dividend, here is why

Tue, 09 May 2017 17:15:00 GMT

Y/E Mar Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 614.8 69.2 23.7 4.9 19.3 5.9
2017A 779.2 81.6 29.0 5.5 17.2 18.2
2018E 1483.7 150.5 39.7 3.9 24.2 8.1
2019E 1519.0 189.9 70.3 6.8 13.9 4.9

Last updated on 18/08/2017

Latest research

Investment summary

Renewi was formed upon the completion of the merger between Shanks and Van Gansewinkel in February 2017. The new company is well placed strategically with its ‘waste-to-products’ strategy capitalising on the trend towards a circular economy and, in the short term, its shareholders should benefit from a recovery in its core Dutch waste market and from the €40m in expected cost synergies. We forecast underlying three-year EBITDA CAGR of 10.9%, the bulk of which is driven by merger synergies, and note the attraction of the 3.9% dividend yield. Our fair value per share of 102p offers 27.5% upside to current levels.

Last updated on 06/09/2017

Industry outlook

After an extended period of contraction the Dutch waste market, accounting for the largest single business within Renewi, has returned to growth as the economy has recovered, boosted in particular by stronger construction activity.

Last updated on 06/09/2017

Key management

Colin Matthews , Chairman
Peter Dilnot, CEO
Toby Woolrych, CFO

Company address

Mount Farm
Dunedin House, Milton Keynes
MK1 1BU
United Kingdom
+44 (0)1908 650650
View website