Renewi Share Discussion Threads

[mathurin1] 06/10/2020 19:09

Many thanks for list of major holders - seems only one Benelux institution- hoping to see Benelux pension funds buying RW through Amsterdam but local turnover very thin at the moment - but doesn’t need much to push the share price

[gregsc] 06/10/2020 16:32

There you go. Sorry about the spacing, couldn't fix it.


Major Shareholders Amount Holding %
Paradice Investment Management Pty Ltd 56,548,933 7.07
Sterling Strategic Value Ltd 48,486,595 6.06
Avenue Europe International Mgmt LP 45,946,642 5.74
Cross Ocean Partners 34,079,882 4.26
Pettelaar Effectenbewaarbedrijf NV 24,240,000 3.03

Director Holdings Amount Holding %
Mr. Toby Richard Woolrych 1,248,087 0.156
Otto de Bont 973,217 0.122
Professor Dr. Luc Sterckx 285,000 0.036
Ms. Marina M Wyatt 11,600 0.001

[mathurin1] 06/10/2020 16:04

George - would you have a list of the major shareholders and their holdings ? Thanks for your comment re eventual PE buyout- always nice to have that eventuality.

[george stobbart] 06/10/2020 11:04

yes sounds reasonable all things equal.

But I do believe that they will be taken over in the meantime.

The Suez / Veolia possible merger looks to be progressing well which will leave just one competitor in the Benelux (Renewi vs. Suez/Veolia merged).

It makes no sense for RWI to remain public given the consolidation happening and the multiples paid by PE.

The debt of RWI remains very cheap for a possible refinancing by PE firms so it would be very straightforward.

[mathurin1] 06/10/2020 09:08

George S - george your latest intuition please on potential target over next year - do you accept the Peel Hunt figure of 49 ?

[gregsc] 05/10/2020 16:48

Nice volume in London, much lower in Amsterdam

[mathurin1] 05/10/2020 10:30

Euronext today shows a 3.5% gain for
Renewi against a flat London quote.Can someone illuminate me on the reason ?

[gregsc] 05/10/2020 09:41

I agree George. The Derby contract still has 18 months to run, but the ELWA contract six years. Renewi is diverting waste to other UK plants and Scandinavia because of the new Dutch tax.

[george stobbart] 05/10/2020 08:49

The UK business is effectively now worthless following the recent impairments on ELWA and Derby. Effectively, RWI carries a badwill on the balance sheet instead of goodwill on these projects.

Renewi would love to sell them at £0 or even at a negative price to get rid of these toxic UK contracts but is very unlikely that a buyer would ever come in.

But UK exposure is now tiny (<8% of EBIT) and is shrinking fast.

[horseyphil] 04/10/2020 07:52

I'm in a similar situation to you catch007,high initial price but have averaged down. This was certainly the best update in years. RWI is much more focused now that it's disposed of the Canadian business and, hopefully, the UK problems are largely behind it. In fact I'd be happy to see the UK business sold too - if there are any buyers at a decent price. Prospects look good, the best for many years. My big concern is that it's always struck me as a company run more for the benefit of the Board and management - time for them to think about the shareholders, especially the long-suffering ones like us!

[catch007] 03/10/2020 18:33

I believe the market was down trading on a lack of news flow pre results. Imho the results showed a number of very positive trends cash management, strategic savings and markets proving resilient. I havent sold a share as this will be a recovery stock for patient investors (btw I originally bought in £1+ so I may look like Gandalf to see £1 again). Thankfully I have averaged down my last chunk circa 18p so should be ok in time.

[theolonghair] 03/10/2020 17:31

I wouldn't be surprises to see a 15p GBX lse:rwi or [€0,17 aem:rwi].

Not claiming that's going to happen.
But so much is possible now.

[mathurin1] 02/10/2020 16:58

George S - I assume you have now taken a 20% profit on your 18.9 buy.
So far you have been spot on your predictions - in your gut you feel that RW is a boring investment and I would like your likelihood of the share price going up to 27 or down to 20. I assume from your last forum that you fear/want the down path.

[outsizeclothes.com] 02/10/2020 15:26

After an update like that George ? Highly unlikely imho

[george stobbart] 02/10/2020 08:14

for those who have been long enough and dealt with this stock, clearly know that the share price can go lower and hit 18p in a few weeks

[molatovkid] 02/10/2020 07:50

That chart looks great for a sustained rise....

[horseyphil] 02/10/2020 05:16

I would rather see no divvy for a couple of years and the company concentrate on debt reduction. The high debt level has suppressed the share price and made RWI susceptible to things like the ATM closure and PFI problems. Get leverage down to under 2x and the share price could take off, and would also make it a much more attractive takeover target.

[its the oxman] 01/10/2020 21:59

30p plus coming now

[outsizeclothes.com] 01/10/2020 21:40

22p gone. Charts and, at last, momentum say 27p next target.
Charts aside, I can see this paying a 3p divvy inside 2 years / 30 months - a doubler on that basis alone.

[dplewis1] 01/10/2020 21:33

It may pull back a bit after a big day like today but I'd be genuinely shocked if it dropped into the teens again. Market cap was simply too low for the numbers they are generating

[wad collector] 01/10/2020 21:01

The worst is over now? Surely this share price cannot fall further now? Can it?

[theolonghair] 01/10/2020 16:47

Pfff I cant even imagine having so many shares. Even so... I am very optimistic. Its crises these days and RWI isn't so much under the weather.

They had certain expenses ofc with
new trucks, plants. Over time
I am convinced that will yield.

They merged three years ago.
From where they came, I'm not
disappointed actually.

In the mean time I buy when I can.

[gregsc] 01/10/2020 14:20

Wasn't me. I've still got my 1m shares, hopefully we will see 29p or more soon.
Oops, that was a buy wasn't it.

[dplewis1] 01/10/2020 13:40

1m share trade at 23.5 just gone in

[george stobbart] 01/10/2020 12:08

Renewi Surges; Peel Hunt Says Covid Impact Less Than Expected

(Bloomberg) -- Renewi shares rise as much as 23%, the most since May 29, after the waste management firm said trading has been materially ahead of its expectations.

• Peel Hunt (buy) says the impact of Covid-19 on the business is proving less than expected and the 1H update is encouraging

• Current low valuation at 3.4x FY22 EV/Ebitda “looking increasingly unsustainable” as investor confidence grows in Renewi’s recovery, analyst Andrew Shepherd-Barron writes
• NOTE: Renewi shares down 36% YTD