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  5. Full year results 2017 18 Full year results 2017 18

Full year Results 2017/18

Renewi year end results 2017/18

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Press release
    • Full year performance slightly ahead of upgraded expectations
    • Core Commercial Benelux divisions underlying profits up 36% at CER
    • Cost synergies ahead of plan at €15m and on track to deliver expected €40m in 2019/20
    • Proactive management to outperform in dynamic recycling markets
    • Well positioned to benefit from long term structural growth in EU recycling
    • Board expectations for good progress in 2018/19 unchanged
    • Revenue up 8% to £1,566m (3% at CER)
    • Underlying EBIT up 30% to £69.1m (23% at CER)
    • Reported underlying profit before tax doubled to £51.5m (88% at CER)
    • Exceptional and non-trading items of £101.5m, £73m of which related to UK Municipal and £22m to merger related costs as expected, resulting in a statutory loss before tax of £50.0m (2017: loss of £61.4m)
    • Reported underlying EPS up 30% to 4.8p per share (18% at CER)
    • Net debt better than expected at £439m
    • Total dividend maintained at 3.05p per share