Renewi Share Discussion Threads

[dplewis1] 15/5/2019 12:57

More than doubled since that intra-day low after the results. Great for anyone that actually 'picked the bottom'!

[george stobbart] 15/5/2019 12:40

Bull sweep detected! nice 2.2mn print on the bid!

[dplewis1] 10/5/2019 15:22

Well it's not dropped during the selloff, so seems to be performing as a defensive stock should be!

[robsy2] 10/5/2019 15:14

This is making quite a solid recovery now.

[dplewis1] 01/5/2019 11:50

Edison note FY19 in line, guidance reduced for FY20 The Commercial division had a stronger Q4 including delivering planned synergies following price increases at the start of the quarter. As seen at the H1 stage, other divisional performances remain variable but overall group profitability was as management anticipated. Cost-reduction actions are underway in all divisions to improve performance and plant efficiencies, which will strengthen the group platform for future growth. Separately, we now expect total exceptional charges, which are mainly non cash, of €80m+ in H2, over half of which (c €45m) relates to the Derby energy from waste project delays and financial difficulties at prime contractor Interserve. Other components include synergy delivery costs and proactive provisioning at UK Municipal ELWA, given possible Brexit impacts. Looking ahead, guidance is now to expect no resumption of remediated soil deliveries from ATM in FY20, which explains over two-thirds of our 36% lower group PBT for that year (with a 20%+ reduction in FY21 also). The existing 3.5x net debt:EBITDA covenant has been extended for a further year (previously due to step down to 3.25x in June), which looks sensible given our projected c 3x end FY19 position and allowing for some normal seasonal working capital fluctuation. A flagged dividend reduction (to 1.45p/1.68c) for the year including a proposed 0.5p final, versus our previous expectation of a flat 3.5c (3.05p) payout), forms part of this debt management strategy. Previously flagged disposals (ie Hazardous, Reym, and Municipal, Canada) are said to be progressing, with the latter business at the due diligence stage, and are expected to reduce net debt in due course. Valuation: Event-driven net debt reduction upside Renewi's share price has rallied to January 2019 levels but remains over 60% below its 86.9p year high (June 2018) with estimates also under pressure during this time. Factoring in our revised forecasts, the FY20 P/E has compressed to 8.3x with EV/EBITDA of 4.9x, which become 5.7x and 4.2x respectively one year further out. The group net debt position could improve significantly if disposals complete and/or the ATM position is resolved, although the timing is uncertain. Even following the proposed dividend reduction, Renewi is yielding 4.4%.

[dplewis1] 01/5/2019 09:15

Farringdon taking some profits already!

[george stobbart] 29/4/2019 17:47

let's hope so. given how its beaten-up the past year, a glimpse of good news (any at all) should push it much higher

[outsizeclothes.com] 29/4/2019 17:27

The chart here is starting to look like a textbook recovery.
A 16 month long downtrend has been fully broken at 28p.
A "V" shaped recovery gives a 72p initial target, albeit eight months away / end of year. (low of the first dip)

[dplewis1] 29/4/2019 11:20

Even after the recent rebound I'd love to have that average!

[robsy2] 29/4/2019 11:18

Paid 33.5111p just now for a purchase of 22950 shares.

[robsy2] 29/4/2019 11:13

Thanks for the update George.There seems to be something in the air.I've bought a few more this morning.
R2

[george stobbart] 29/4/2019 09:31

The Dutch Govmt proposed last Friday the amendment of the Asbestos Removal Decree 2005 and the Building Decree 2012 and there was speculation over the weekend that the minister might stick into the legislative pack new rules regarding thermally processed soil, which will enable ATM to start production again under new rules.

Let's see this week if there's any new development or not.

[dplewis1] 29/4/2019 08:52

The algos are buying...!!

[wad collector] 25/4/2019 12:39

Wow , yes up tuppence-halfpenny now. Will be back in the blue with another 70p myself.

[dplewis1] 25/4/2019 08:50

Closing in on 30p.. if it can just do another 70% I'll be back in profit!

[betman] 12/4/2019 11:20

After months of relentless falling has the share price actually bottomed out and turning the corner ? I do hope this isn't a dead cat bounce as this has felt like a dead cat as my capital has disappeared. Too late to sell now. I hope all the bad news is out there and now we can look forward to some more positive news

[robsy2] 09/4/2019 18:05

Yes , just nice to get a break for once. Not unreasonable to expect some positive news on one front or another.
R2

[george stobbart] 09/4/2019 17:27

Nice bull sweep today, see if holds.

Despite there's a known seller out there in the market.

Doesn't look like a dead cat bounce this time but lets not get excited just yet

[george stobbart] 09/4/2019 08:34

From BBC reporter: "New: The plug could be pulled on Derby and Derbyshire's £950m waste contract. A decision's expected to be made as soon as this week.

If the contract is stopped, it's likely attempts would still be made to bring the Sinfin plant into use, but under new ownership."

Let's see if RWI kicks out Interserve from the JV and takes 100% ownership of the plant.

Will the market be likey or not?

[wad collector] 08/4/2019 09:27

Was that ironic?

[eentweedrie] 05/4/2019 16:45

glad ive held on!

[george stobbart] 05/4/2019 09:24

Yes looks like it, relentless prints on the bid

[outsizeclothes.com] 04/4/2019 23:16

In at 23.3, but it took 2 tranches to fill the order mid afternoon. There mustn't be a lot of stock about.