A positive full-year trading update from Renewi pointed to a management FY21 (to March) EBIT expectation of €68m versus an existing consensus of around €55m. Our estimates are now in line with this, after increasing the Commercial division contribution. We have made no changes to other years at this stage, although there should be downward pressure on finance costs given the cash performance, but earnings still show some progression beyond FY21. Renewi has a well-explained strategy for increasin ....
17 Mar 2021
Renewi - Upgrades driven by Commercial waste division
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Renewi - Upgrades driven by Commercial waste division
Renewi Plc (RWI:LON) | 574 45.9 1.4% | Mkt Cap: 462.0m
- Published:
17 Mar 2021 -
Author:
Toby Thorrington -
Pages:
3
A positive full-year trading update from Renewi pointed to a management FY21 (to March) EBIT expectation of €68m versus an existing consensus of around €55m. Our estimates are now in line with this, after increasing the Commercial division contribution. We have made no changes to other years at this stage, although there should be downward pressure on finance costs given the cash performance, but earnings still show some progression beyond FY21. Renewi has a well-explained strategy for increasin ....