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  • After closing the deal on 28 February 2017, the hard work of integration began. This process is underpinned by our five guiding merger principles:

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    1. FULL INTEGRATION UNDER
      A NEW BRAND

      We are integrating all businesses into one single, new, stronger company with a new brand that showcases our transformation internally and externally.

      Achievements

      • New Renewi brand launched on Day 1
      • Positive reaction from our stakeholders
      • Brand to be rolled out as part of integration process
    2. BUILD DEEP AND BROAD
      WASTE-TO-PRODUCT CAPABILITIES

      We are creating value and we will achieve our synergy targets through generating economies of scale and expanding our offering to customers.

      Achievements

      • A number of ‘quick wins’ already achieved by combining legacy knowledge and expertise
      • Geographical footprint and technology base broadened
    3. GO SLOW TO GO FAST

      We are conducting careful forward planning followed by rapid implementation; we are not disrupting business continuity.

      Achievements

      • Working in close conjunction with works councils with positive support so far
      • Decisions made carefully and implemented at pace
      • Positive reaction from our stakeholders
    4. MOVE TO ONE WAY OF WORKING,
      LEARNING FROM BOTH BUSINESSES

      We are leveraging the best of both legacy businesses.

      Achievements

      • A number of ‘quick wins’ already achieved
      • Executive Committee and IMO focused on moving to one way of working and learning from both legacy businesses
    5. CULTIVATE A WINNING TEAM

      We want to retain the best people and develop our talent through culture and a positive employee experience.

      Achievements

      • Engaging and communicating frequently with our teams
      • Executive Committee in place from Day 1
      • Divisional management teams being appointed

    Timeline merger

  • The strategic and commercial rationale for the merger of Shanks and Van Gansewinkel is compelling. The merger will deliver annual recurring synergies of €40 million by the third full year, yet it is about much more than just cost reduction. Renewi is uniquely positioned at the heart of the emerging circular economy to meet the growing needs of its customers, regulators and society.

    Capturing value

    The strategic and commercial rationale for the merger of Shanks and Van Gansewinkel is compelling. The merger will deliver annual recurring synergies of €40 million by the third full year, yet it is about much more than just cost reduction. Renewi is uniquely positioned at the heart of the emerging circular economy to meet the growing needs of its customers, regulators and society. The below shows how we will capture the value from our merger.

    Van Gansewinkel

    STRONG IN RECYCLING OF GLASS AND ELECTRONIC GOODS
    We are the number one provider of glass recycling and trading of recycled glass “cullet” in Europe

    SPECIALISED IN COLLECTION
    A large collection fleet collecting waste across the Benelux

    EXPERTISE IN LOGISTICS
    In-house logistics expertise

    OPERATING MODEL
    Brings strong common platforms and processes on which to build

    Shanks

    SUCCESSFUL ROLLOUT OF POWERFUL SELF-HELP PROGRAMMES
    Continuous improvement and commercial effectiveness programmes embedded into majority of business

    SPECIALISED IN PROCESSING
    Deep knowledge of waste processing and recycling

    OPERATING MODEL
    Local service and remaining close to the customer

    STRONG IN HAZARDOUS WASTE TREATMENT AND IN ORGANICS
    Specific expertise in treatment of hazardous waste such as soil, contaminated water, paints and solvents, and in organics, such as anaerobic digestion (AD) and composting

  • We have an important year ahead as we progress through the integration of our new company. We have five key areas of focus which are detailed below

    1. CREATION OF NEW LEADERSHIP TEAM

      • Our new Executive Committee is a blend of strong leaders with proven international expertise and clear customer focus.
      • A careful selection process for leadership roles is underway to ensure we have the right people in the right places and with the right support.
      • We will take the very best of what made Shanks and Van Gansewinkel great, capturing the breadth of skills and experience from across both businesses.
      • It will take some months to complete all layers of our management and we are working hard to get the next two layers of leadership in place by the end of summer.
    2. DELIVERY OF INTEGRATION PLAN FOR NEW TARGET OPERATING MODEL (TOM) IN COMMERCIAL DIVISION

      • We are executing our carefully prepared integration plans at pace.
      • As part of these plans, we are implementing a new TOM in the Commercial Division.
      • Our aim is to deliver the benefits of scale whilst remaining close to our customers.
      • Organisation design to create the new TOM is well underway.
    3. DELIVERY OF VALUE CAPTURE PLAN AND €12M OF COST SYNERGIES

      • Delivery of the committed €40m of cost synergies underpins the expected value creation of the merger.
      • We have detailed synergy delivery plans and are committed to delivering €12m of cost synergies in 2017/18, increasing to €30m by the end of 2018/19 and €40m by the end of 2019/20.
      • We have validated synergy models, put governance processes in place and our Value Capture team is in detailed ‘phase 2’ planning.
      • Over €4m has been secured already and we are confident that we will meet our commitments for the coming year and going forward.
    4. FIRST ROLL-OUT OF COMMERCIAL EFFECTIVENESS AND CONTINUOUS IMPROVEMENT IN COMBINED GROUP

      • The commercial effectiveness (CE) and continuous improvement (CI) programmes have been at the heart of margin enhancement in the Netherlands.
      • Our CE initiative is focused on managing intake margin at the front end of the business.
      • The CI programme is all about “doing tomorrow better than today”, using lean tools to improve productivity.
      • Full roll-out will boost competitiveness, drive enhanced margins and deliver sustainable growth throughout Renewi over the short and medium term.
    5. IMPLEMENTATION OF RECOVERY PLAN IN MUNICIPAL DIVISION

      • The Municipal Division has been impacted by very difficult market conditions.
      • Difficulties primarily are due to ongoing off-take cost pressures and operational ramp up challenges.
      • New management is now in place and making rapid progress in implementing the clear plan for recovery.
      • Operational and commercial improvements already underway.

Year in review

Key Facts

  • 90%overall recycling and recovery rate

  • 3mtonnes of carbon avoidance through recycling and recovery

  • 15mtonnes of waste handled

  • 172bwatt hours of green electricity produced – enough to power 40,000 homes

  • 7kover 7,000 employees

Chairman's Statement

"The transformational merger between Shanks and Van Gansewinkel Groep has resulted in one of the world’s leading recycling companies."

CEO's review

"We delivered a robust performance during a transformational year."

Group Highlights

  • £779mtotal revenues

  • 27%increase in total revenues

  • 2.1pfinal dividend per share

  • £36.5mtrading profit

  • 9%increase in trading profit

CFO's review

"The strength of our combined Group, and our plans for growth through synergy gains and investment, will help to build on increases in underlying revenue and trading profit."

Revenue

Revenue by division

Revenue by division

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Annual Report 2017

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