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CEO's review


We made robust progress during the year, delivering financial results in line with our expectations and a number of strategic and financial objectives, including: raising €107m through strategic disposals; receiving permission to resume TGG shipments at ATM; and delivering our cost synergies and other restructuring projects. We also made good progress with a growing pipeline of circular solutions and partnerships.

Renewi provides an essential service in the front line of maintaining vital services to hospitals, businesses and communities, and our dedicated employees have been able to keep serving our customers while we have innovated to ensure a safe working environment. Our specific actions on cost and cash will preserve our liquidity even in an extended crisis, and we have secured amendments to our banking covenants until September 2021. As a result of these actions, we are well placed to mitigate the impact of Covid-19.

Looking forward, the momentum towards a circular economy is unstoppable. Here we announce our enhanced strategy, which will enable us to capture the growth opportunities from the circular economy, and our Renewi 2.0 programme, which will deliver improved customer service as well as €20m of cost benefits through digitisation and optimised internal processes. Aligned with our enhanced strategy, we have defined our ambitious sustainable development goals.

Read the full review on page 32/36 of the Annual Report.

Otto de Bont
Chief Executive Officer