Investor Relations
  1. Home
  2. Investors
  3. Investor Relations
  4. Results centre Results centre

Results centre

Interim Results 2020/21

    • Resilient financial and operational performance through Covid-19
    • Q2 volumes in Netherlands and Belgium Commercial recovered well to 97% and 91% of prior year volumes respectively
    • Revenue and underlying EBITDA from ongoing businesses down 3%1
    • Underlying EBIT from ongoing businesses down 25% to €28.3m1
    • Total exceptional items reduced by 86% to €8.1m
    • Statutory profit of €3.5m up €38.9m from the prior year
    • Cost savings of €10m in H1 and expect to exceed the €15m target for the full year.Cash savings expect to exceed the target of €60m for the full year
    • Free cash flow up 89% to €97.8m, aided by significant government tax deferrals
    • Core net debt* reduced to €381m from €457m at March 2020, representing net debt to EBITDA of 2.69x
    • Liquidity remains strong at €325m (March 2020: €252m)
    • ATM earnings recovery on track
    • Renewi 2.0 programme progressing well
    • Innovation pipeline progressing, especially with bio-LNG, construction materials and RetourMatras
    • Continuing supportive regulation and increasing market demand for circular solutions
    • Full year outlook: the Board now anticipates a performance materially ahead of previous expectations
  •  

    Sep 2020

    Sep 2019

    % change

    UNDERLYING NON STATUTORY

     

     

     

    Revenue1 ongoing businesses

    €821.4m

    €850.7m

    -3%

    Underlying EBITDA1 ongoing businesses

    €88.5m

    €91.2m

    -3%

    Underlying EBIT1 ongoing businesses

    €28.3m

    €37.8m

    -25%

    Underlying profit before tax1 ongoing businesses

    €15.3m

    €20.2m

    -24%

    Underlying EPS1 ongoing businesses (cents per share)

    1.5c

    1.9c

    -21%

    Free cash flow1

    €97.8m

    €51.8m

    +89%

    Core net debt*

    €381m

    €514m

     

     

     

     

     

    STATUTORY

    Revenue from continuing operations

    €821.4m

    €915.7m

     

    Operating profit from continuing operations

    €17.0m

    €1.0m

     

    Profit/(loss) before tax from continuing operations

    €4.4m

    €(17.8)m

     

    Loss from discontinued operations

    -

    €(16.6)m

     

    Basic EPS from continuing operations (cents)

    0.5c

    (2.4)c

     

    Cash flow from operating activities

    €133.9m

    €85.4m

     

Business Update

  • Resilient financial and operational performance through Covid-19
  • Q2 volumes in Netherlands and Belgium Commercial recovered well to 97% and 91% of prior year volumes respectively
  • Revenue and underlying EBITDA from ongoing businesses down 3%1
  • Underlying EBIT from ongoing businesses down 25% to €28.3m1
  • Total exceptional items reduced by 86% to €8.1m
  • Statutory profit of €3.5m up €38.9m from the prior year
  • Cost savings of €10m in H1 and expect to exceed the €15m target for the full year.Cash savings expect to exceed the target of €60m for the full year
  • Free cash flow up 89% to €97.8m, aided by significant government tax deferrals
  • Core net debt* reduced to €381m from €457m at March 2020, representing net debt to EBITDA of 2.69x
  • Liquidity remains strong at €325m (March 2020: €252m)

Drivers for sustained future earnings

  • ATM earnings recovery on track
  • Renewi 2.0 programme progressing well
  • Innovation pipeline progressing, especially with bio-LNG, construction materials and RetourMatras
  • Continuing supportive regulation and increasing market demand for circular solutions
  • Full year outlook: the Board now anticipates a performance materially ahead of previous expectations

Financial Highlights

 

Sep 2020

Sep 2019

% change

UNDERLYING NON STATUTORY

 

 

 

Revenue1 ongoing businesses

€821.4m

€850.7m

-3%

Underlying EBITDA1 ongoing businesses

€88.5m

€91.2m

-3%

Underlying EBIT1 ongoing businesses

€28.3m

€37.8m

-25%

Underlying profit before tax1 ongoing businesses

€15.3m

€20.2m

-24%

Underlying EPS1 ongoing businesses (cents per share)

1.5c

1.9c

-21%

Free cash flow1

€97.8m

€51.8m

+89%

Core net debt*

€381m

€514m

 

 

 

 

 

STATUTORY

Revenue from continuing operations

€821.4m

€915.7m

 

Operating profit from continuing operations

€17.0m

€1.0m

 

Profit/(loss) before tax from continuing operations

€4.4m

€(17.8)m

 

Loss from discontinued operations

-

€(16.6)m

 

Basic EPS from continuing operations (cents)

0.5c

(2.4)c

 

Cash flow from operating activities

€133.9m

€85.4m