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Trading 'Slightly Ahead' of Consensus

Renewi is a leader in the circular economy with a recycling rate of more than 68% which, along with ever-tightening legislation, provides a positive long-term operating platform. The reassuring trading update therefore suggests an attractive entry point at the current valuation. Edison Group estimates FY23 revenue and EBIT of €1.9bn and €128.4m respectively versus consensus of €1.9bn and €127m; their numbers are unchanged. Full year results are due on 25 May.

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