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CEO's review

Overview

I took over as CEO on 1 April 2019, following two years as Managing Director of the Commercial Netherlands Division. Together with our Belgian Commercial business, the Commercial Division, which accounts for two-thirds of Renewi activities, delivered good profit growth year on year, supported by merger cost synergies, and is well positioned for future profitable growth. This good progress was offset by significant challenges elsewhere in the Group.

As previously announced, ATM was severely impacted by the ongoing industry-wide suspension of the application of thermally treated soil. We are progressing the additional tests required by the Dutch authorities for the resumption of shipments of thermally treated soil from ATM on an interim basis and as an input to a planned new regulatory framework. We continue to expect the authorities to permit shipments under such an interim regime during the year ending 31 March 2020 and we maintain a strong order book of domestic and export customers waiting to take the cleaned soil once regulatory clearance is given.

Following market and operational challenges in our Mineralz & Water Division , we are rationalising sites and products, which will deliver improved performance. In the Specialities Division, our main challenge is the new Derby facility. Following the failure of our partner, Interserve, to commission the facility, we have now provided for the complete termination of the PPP contract.

Read the full review on page 13/20 of the Annual Report.

Otto de Bont
Chief Executive Officer