DeZwarteRidder schreef op 1 februari 2021 09:16:
1 February 2021
Renewi plc
("Renewi", the "Company" or, together with its subsidiaries, the "Group")
Third Quarter Trading update
.....
Cash performance continued to be strong, benefitting from robust working capital management which is expected to unwind partly at the year end. Core net debt (excluding IFRS 16 lease liabilities) at the end of December was €323m, representing a reduction of €58m since 30 September 2020 and leverage has reduced to 2.2x, with significant headroom against the Covid-adjusted covenant of 6.0x. Days sales outstanding (DSO) remained unchanged on prior year and levels of customer insolvency continued to be low, reflecting ongoing government support for affected business sectors. We continue to expect a working capital outflow going forward, including placement of ATM TGG and an increase in DSO.
Outlook
Overall trading for the Group in the period was robust and the Board's expectations for the year ending 31 March 2021 remain unchanged....