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Preliminary Results FY21

Renewi Preliminary Results FY21: Otto de Bont & Toby Woolrych sharing highlights

 
 

    • Robust results reflect resilient business model, swift Covid-19 cost and cash action, and a significant improvement in the second half
    • Revenue from ongoing businesses flat and revenue from continuing operations down 5% to €1,694m1
    • Underlying EBIT from ongoing businesses 3% below prior year and above previous guidance at €73.0m1
    • Statutory profit of €11.0m compared to a loss of €77.1m in the prior year
    • Core net debt* reduced to €344m from €457m last year, representing net debt to EBITDA of 2.2x
    • Material upgrade to our expectations for FY22
    • Good progress with innovation pipeline with projects commissioned and in construction, including ATM new products, BioLNG facility, and a further RetourMatras facility
    • Renewi 2.0 programme on track and delivered benefits ahead of plan of €2.2m in FY21
    • ATM results impacted by delays in approvals to ship TGG, however good progress made, capacity to make new construction materials commissioned, and three year recovery plan remains on track
    • Proposed 1 for 10 share capital consolidation to be included at forthcoming Annual General Meeting
    • Our business enables a circular economy: sustainability is our business strategy
    • Ambitious “Mission75” launched to increase our recycling rate from 65.8% to an industry-leading 75% over five years, equivalent to an extra 1.3m tonnes per annum
    • A leading ESG model; new ESG evaluation of 83 issued by S&P (up from 75 in 2020)