Waste management company Renewi is aiming to boost its annual revenues to €3bn over the next five years. At the release of the preliminary earnings report for the 2022/23 financial year, CEO Otto de Bont said the company would "achieve growth through market share gains, by extracting more value from waste by deploying advanced recycling, and by targeted acquisitions". Renewi 's activities are mainly focused on the Netherlands and Belgium, but the company also has some municipal waste operations in the UK.
Although Renewi posted record revenues in the financial year ended 31 March 2023, the three-billion-euro figure remains some considerable way off. Consolidated annual revenues hit €1.89bn, edging 1 per cent higher in annual comparison. The past financial year was an unusual year with "quite some headwinds" including inflation and volatility in recyclate prices, said Mr De Bont. Renewi had been able to mitigate the impacts of these adverse market conditions, primarily through pricing and cost control. The company had completed the implementation of its "Renewi 2.0” cost cutting programme with its €20m per year target and expected to now see the benefits of the investments it had been making in advanced waste sorting in Belgium, Mr De Bont said....
