The Dutch waste management and recycling company Renewi is embarking on a "new chapter" with the sale of its British activities, CEO Otto de Bont said at the announcement of the sale and the presentation of his group's financial report for the past financial year last week. The disposal of its UK operations led to an exceptional charge during the 2023/24 financial year ended 31 March. Together with lower profits, this resulted in a net loss for the year. One year earlier, Renewi posted a net profit of €67m.
Renewi described the market environment for its main business, commercial and industrial waste collection and management in the Netherlands, in 2023/24 as challenging. The group's commercial waste business fared a little better in Belgium. Renewi said that its subsidiary Coolrec, which specialises in the management of waste electrical and electronic equipment (WEEE), processed "record volumes" during the reporting year, while the glass recycler Maltha booked "exceptional results"....
