Update: Expecting a stronger H2
A challenging Benelux solid waste market and one-off capacity outages in Hazardous Waste were, as flagged in the pre-close trading statement, the main contributors to a lower H1 result. However, Shanks confirmed that it expects a stronger H2 and highlighted signs of long-term recovery in the Benelux solid waste market. In our view, Shanks is well positioned to take advantage of an economic recovery and could seek to strengthen its position in the waste market through sector consolidation.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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