Renewi - In-line FY20, coronavirus evaluation underway

FY20 is ending in line with expectations and ATM resumed soil shipments during Q4. Waste management is considered to be an essential service during the coronavirus pandemic; while the wider business impacts are evaluated, Renewi has outlined initial cash preservation measures. Our estimates have been adjusted only to reflect no final dividend expectation and additional non-underlying charges in FY20; potential coronavirus impacts beyond this are under review and not currently reflected.