Renewi is a leading waste-to-product company in some of the world’s most advanced circular economies with operations primarily in the Netherlands, Belgium and the UK. Its activities span the collection, processing and resale of industrial, hazardous and municipal waste.
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Renewi’s FY22 results reflect a strong performance across the group assisted by recyclate prices which management expect to moderate going forward. Q1 update was in line with guidance, supporting expectations of another good year. Renewi is targeting €60m in additional EBIT from circular innovations, continued recovery at ATM and the Renewi 2.0 programme, with a further €100m in investment planned to support this growth. The acquisition of Paro, an Amsterdam-based commercial waste and recycling business, was announced for an enterprise value of €67m, funded from existing group facilities.
Y/E Mar |
Revenue (€m) |
EBITDA (€m) |
PBT (€m) |
EPS (fd) (c) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2021A | 1693.6 | 202.2 | 47.8 | 45.0 | 20.9 | 3.7 |
| 2022A | 1869.2 | 261.5 | 105.3 | 98.0 | 9.6 | 2.9 |
| 2023E | 1906.1 | 256.0 | 97.2 | 89.0 | 10.6 | 2.9 |
| 2024E | 1958.9 | 266.8 | 103.4 | 95.0 | 9.9 | 2.8 |
Industry outlook
The focus on the circular economy to meet net zero targets is a key investment theme for the years ahead, and Renewi is an example of the growth and improving financial results being achieved from the circular economy tailwinds. The current recycling rate is 67.2% with a target of 75% by 2025.
Last updated on 08/08/2022Content on Renewi
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Industrials
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Share price graph
Balance sheet |
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| Forecast net cash (€m) | 402.8 |
| Forecast gearing ratio (%) | N/A |
Price performance
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Key management |
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| Ben Verwaayen | Chairman |
| Otto de Bont | CEO |
| Toby Woolrych | CFO |