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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.

Investment summary

FY18 results confirmed that the merger integration process is being well controlled and on track to deliver the originally flagged synergy benefits. PBT came in just over £1m better than we had anticipated and was double the prior year level while earnings (+30% y-o-y) and DPS (unchanged) were in line. Divisionally, Commercial and Monostreams both delivered good y-o-y growth versus their prior year pro forma comparative. Individual operating companies all have their own opportunities and challenges and are positioned at the heart of the circular and sustainable economy model – as endorsed by new Green Framework finance facilities. The company’s AGM is scheduled for 12 July.

Last updated on 29/06/2018

Y/E Mar Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2017A 779.2 81.6 26.0 3.7 19.5 13.9
2018A 1565.7 156.9 52.1 4.9 14.8 4.5
2019E 1589.9 181.7 70.6 6.6 11.0 4.6
2020E 1622.2 201.3 86.7 8.2 8.8 3.2

Last updated on 26/06/2018

Latest video

Executive Interview - Renewi

Industry outlook

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 29/06/2018

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
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