Renewi - On track for FY expectations
A Q3 update reaffirmed Renewi’s existing FY21 expectations, with an underlying mix modestly more in favour of Commercial activities offsetting a slower than planned ramp up of thermally treated soil shipments. Cash generation appears to have been very good in Q3 and, despite some outflow in Q4, the year-end net debt position could well be below our current projection. This reassuring update confirms the resilience of waste stream activities with full-year and strategic aspirations maintained.Renewi is a recycling companies. Co. operates in four divisions: commercial, which is engaged in sorting and recycling for, amongst others things, paper, cardboard, wood, plastics, metals and Construction and Demolition waste; hazardous, which is engaged in treating contaminated soil and water, as well as for the disposal of a range of hazardous waste such as waste paints and solvents; municipal, which operates waste treatment facilities for U.K. and Canadian city and county councils under long-term contracts; and monostreams, which produce materials from waste streams in specific end markets such as glass, electrical and electronic equipment, organics and minerals.
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