Renewi Share Discussion Threads

[gregsc] 24/5/2022 11:07

I have no complaints. These are excellent results.
Onwards and upwards!!!

[outsizeclothes.com] 24/5/2022 10:45

My only complaint is that there's no divvy until next year.
Other than that I'm happy, as it seems that debt is falling like a stone, and the extra investment being made should reap rewards in the medium term.
They're a stronger looking takeover prospect because of these results.

[dplewis1] 24/5/2022 08:12

Nice results.. back through 700p

[george stobbart] 24/5/2022 07:33

STIFEL INCLUDES RENEWI IN ITS HIGH CONVICTION BUY LIST

High conviction Buy: Renewi remains a high conviction Buy recommendation for us. At
just over 4x EV/EBITDA, the valuation is very attractive given the legislative backdrop, strong market position, financial strength and growth prospects for the business. Our estimate revision is outlined on page 3.

TP 1,100p (under review)

[george stobbart] 24/5/2022 07:27

Smashed estimates:

FY Mar-22 Consensus data (mn EUR):

Revenue: ~1,837 Actual: 1,869
EBIT: ~129 Actual: 133.6
EBITDA: ~246 Actual: 262.6

Further upgrades its outlook ahead of Board's expectations for FY Mar-23.

LIBERUM RAISES TP from 900p to 1012p due to the higher estimates.

Expect more TP upgrades the next few hours

[sausage7] 23/5/2022 11:07

Many thanks George, your insights are always appreciated. If the new CEO wants to keep inside with investors and employees I hope she resists the temptation to kitchen sink, assuming there is something remaining in the sink! Fingers crossed

[george stobart] 23/5/2022 09:34

FY Mar-22 Consensus data (mn EUR):

Revenue: ~1,837
EBIT: ~129
EBITDA: ~246


They've already said that they've done ahead of Board's expectations for FY22 so beating these numbers would be a non-event.

Markets will be looking at future outlook statements and guidance.

My only concern is whenever a new CFO comes into a company (the new Dutch lady) they try to 'kitchen sink' future estimates to show later in the year that they've over delivered. Hope she doesn't

[sausage7] 23/5/2022 09:00

Morning all. Renewi numbers tomorrow, does anyone have an idea what the consensus forecast is please?

[george stobbart] 12/5/2022 07:33

Strong results from Veolia, with waste volumes and pricing robust and growing across NL-Belgium and the UK.

Comments on Renewi's market:

Belgium-NL : price and volumes above LY (last year), benefit of higher recycled prices

UK : beneficial materials prices, higher electricity prices, better EFW availability

In theory bullish on Renewi and Biffa but in the current markets you never know!

Slide 36 of Veolia's presentation, recyclate prices such as paper have spiked even more post Renewi's year end

[george stobart] 10/5/2022 12:11

Liberum discusses the possibility of Renewi been taken private by an oil major. They also flag that PreZero, acquired the Suez Benelux assets at a much higher premium that current Renewi's multiples.


A strong position in its chosen markets
In Benelux Renewi has a leading share of 25% of the commercial waste market. In Belgium, the largest competitor is Suez, now part of Veolia. In the Netherlands, Pre Zero, which acquired the Suez assets, has 10% share. In both markets, there are then three to four competitors with c. 5% market
share.

There is a possibility that some of the oil producers move upstream into recycling, e.g. Shell. Renewi might be an attractive acquisition for these companies.

Shell has already shown its intent to move into the space when, in September 2021, it took a 21.25% stake in BlueAlp, a company that owns ‘plastic waste to chemical feedstock technology’. As part of the agreement, they will also form a JV to build two new conversion units in the Netherlands, which are forecast to convert more than 30 KT of plastic waste per year. This will help Shell in its ambition to recycle 1m tonnes of plastics waste a year by 2025.

[outsizeclothes.com] 09/5/2022 15:01

615 hit. Needs to hold now, or preferably bounce.

[outsizeclothes.com] 06/5/2022 16:58

610 / 615 is resistence on the charts. So we could see that before any bounce.

[dplewis1] 05/5/2022 08:41

Liberum new buy rating PT 900p

[outsizeclothes.com] 13/4/2022 21:09

posts 2035 & 2048.
I'm a Chart-gazer. 710 is the level to get through.

[george stobbart] 13/4/2022 16:27

looking good here, will it go above £7 and stay there or pull back like the last few times?

[gregsc] 11/4/2022 14:29

George, That's great news if it happens.

[george stobart] 11/4/2022 09:51

Dutch Investment Bank Degroof Petercam intiates Renewi with a buy recommendation and a price target of 12.10 euros.

This was revealed on Monday from an extensive report by analyst Joren van Aken.

Van Aken's price target offers upside potential of more than 50 percent.

The analyst sees Renewi benefiting from the increasing demand for recycling. Regulations will only reinforce this, Van Aken thinks.

This makes Renewi a star player in the ESG segment, Degroof believes.

According to Van Aken, the problem files from the past are all known by now and Renewi handles them well. "The worst is behind us [...] The future looks a lot more encouraging."

Van Aken thinks Renewi's valuation is currently far too low for "a player in the sector of the future".

Degroof sees Renewi's turnover rise from just under 1.7 billion euros in 2021 to 1.85 billion euros this year. According to the bank, the EBITDA increases from 166 to 238 million euros and the adjusted profit even increases according to the estimates from 11.0 million to 66.5 million euros. In 2024, Degroof is counting on a profit of more than 77 million euros.

And in line with the rising profit, the remuneration for shareholders will also increase, Van Aken predicts. He expects a dividend of EUR 0.10 per share for 2022, while no dividend was paid for the past. In 2023 and 2024, Degroof expects the dividend to increase annually by EUR 0.10 per share.

On Monday morning, the Renewi share traded 0.1 percent lower at 7.94 euros.

By: ABM Financial News.

[theolonghair] 04/4/2022 14:12

It depends what your expectations are.
I'm waiting at least until 2025.

[outsizeclothes.com] 30/3/2022 11:55

Wad - The way I see it is that we're not a high growth Tech. or Biotech company, where we could be valued on multiples of future rocketing sales figures.
We're in a {at least semi, if not fully) mature industry with a fairly boring profile, with a company that's now coming out of 'Turnaround & Recovery' mode.
Yes, we are now attracting 'Green & Ethical' but we're not going to attract 'fast growth share' money.
IMHO we are the type of company which pension funds will look at to provide a divvy stream, and that can provide a reliable income on a regular basis to smaller investors. The "buy, lock away and forget, and bank the divvys" type company. Becoming this type of investment was the whole justification for the share consolidation - a bigger, less volatile shareprice, which pension fund companies would invest in.
With our debt now under control, and with excellent margins now coming in on our products, I want to see us becoming a reliable "cash cow" that gives that cash back to it's shareholders - just like other companies in mature industries do.
A 20% payout of net profit after interest now should not be an unreasonable ask.
Grow this to 30% in a few years time as debt gets repaid.

[wad collector] 29/3/2022 15:12

Outsize they could have thrown the whole of last yrs profits into a divi and paid us a pennyhalfpenny !

[mfhmfh] 25/3/2022 18:59

hxxps://masterinvestor.co.uk/equities/renewi-real-money-from-waste-makes-its-shares-highly-attractive/

[george stobbart] 25/3/2022 09:41

Arden Partners: Target Px increased to 950 GBp from 900 GBp

Kepler Cheuvreux: Target Px increased to 11.50 EUR from 11.00 EUR

[george stobbart] 23/3/2022 16:04

a seller with a limit at 7 quid perhaps?

doesn't seem to stay above £7 for long

[outsizeclothes.com] 23/3/2022 12:48

Look great to me.
I'm still looking for a divvy though.

[dplewis1] 23/3/2022 07:51

Seems to be in pretty safe hands with this new CEO. Maybe he got lucky