Renewi has reported a strong set of results for the interim period to end September with underlying EBIT and EPS up 16% and 17% YoY respectively to EUR75.2m and EURc56. Despite better than expected results, management's outlook was quite cautious and the dividend was not reinstated, in part because of rising net debt. We maintain our EBIT forecasts, but net earnings are reduced, mainly to allow for higher finance charges. Even so on a forward P/E of just 12.6x at our 1,000p Target Price, the sha ....
10 Nov 2022
Renewi - Strong 1HFY23 results
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Renewi - Strong 1HFY23 results
Renewi Plc (RWI:LON) | 564 -39.5 (-1.2%) | Mkt Cap: 454.7m
- Published:
10 Nov 2022 -
Author:
Colin Smith -
Pages:
5
Renewi has reported a strong set of results for the interim period to end September with underlying EBIT and EPS up 16% and 17% YoY respectively to EUR75.2m and EURc56. Despite better than expected results, management's outlook was quite cautious and the dividend was not reinstated, in part because of rising net debt. We maintain our EBIT forecasts, but net earnings are reduced, mainly to allow for higher finance charges. Even so on a forward P/E of just 12.6x at our 1,000p Target Price, the sha ....