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Renewi Reports Revenue Growth and Strategic Expansion in Q3 Trading Update

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Renewi Reports Revenue Growth and Strategic Expansion in Q3 Trading Update

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Renewi plc ( (GB:RWI) ) has issued an announcement.

In its Q3 trading update for the nine months ending December 31, 2024, Renewi plc reported a 4.2% increase in revenue year-on-year, reaching €1,307.8 million, driven by higher volumes in Specialities and increased inbound prices in Commercial Waste. The company also achieved an 8.4% rise in underlying EBIT, supported by strong performance in Mineralz & Water and Specialities, alongside reduced SG&A costs. The completion of the UK Municipal business sale to Biffa Limited contributed to a rise in core net debt to €507.2 million. Renewi’s operations in the Netherlands have secured a major waste management contract with FrieslandCampina, and its Green Collective partnership has expanded, enhancing sustainability efforts. Despite mixed market conditions, the Group anticipates continued progress for the fiscal year, underpinned by commercial and cost initiatives.

More about Renewi plc

Renewi plc is a leading European waste-to-product company that focuses on recycling and extracting value from waste to create circular materials. The company plays a significant role in combating resource scarcity and promoting the circular economy by transforming used materials into new products, thus contributing to a cleaner and greener world. With operations in five European countries, Renewi employs over 6,000 people across 151 sites and is recognized as a leader in advanced recycling, particularly in the Benelux region.

YTD Price Performance: 0.87%

Average Trading Volume: 459,459

Technical Sentiment Consensus Rating: Sell

Current Market Cap: £654.5M

See more data about RWI stock on TipRanks’ Stock Analysis page.

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