Waste processor Renewi suffered a loss in its last financial year. The turnover of the merged company, which was created by the merger of the British Shanks and the Dutch Van Gansewinkel, did increase. CEO Otto de Bont spoke about a challenging year.
Renewi’s sales amounted to 1.8 billion euros, an increase of 1 percent compared to the previous year. Below the line, the waste processor was 76.6 million euros short. This was due to substantial one-off charges, which are related to, among other things, the amalgamation. The underlying gross profit (EBIT) did go up.
The company again indicated that it also wanted to go to the stock exchange in Amsterdam. That listing should come in the second half of the year. With the listing in Amsterdam in addition to the stock exchange in London, Renewi wants to emphasize its focus on activities in the Benelux. For the same reason, a new chief executive officer from that area must be found.
Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email maurice.eisma@economicinform.com
