Renew Holdings PLC

RNWH

Equity

ISIN GB0005359004 / Valor 181831

LSE London Stock Exchange, SETS (2026-07-31)

GBP 8.97-0.33%

Renew Holdings PLC
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About company

Renew Holdings PLC is a UK-based company that provides specialist engineering services across various critical infrastructure sectors. The company operates through independently branded subsidiary businesses, delivering multidisciplinary engineering solutions. Its services encompass infrastructure civils, specialist drainage, lighting, and electricals, primarily for the strategic highways network under asset delivery framework agreements with National Highways. Renew Holdings is also involved in wireless telecoms network infrastructure, aviation support, and asset care. In the energy sector, the company supports the maintenance and upgrade of the UK's electricity distribution network and provides services to renewable energy sites, thermal power generation plants, and onshore wind turbines. Additionally, Renew Holdings plays a significant role in the rail industry as one of the largest providers of maintenance and renewals engineering services to Network Rail. The company also supports water infrastructure networks, including flood alleviation and river and coastal defense schemes, and undertakes high-hazard risk reduction operations at nuclear facilities, focusing on waste treatment, reprocessing, decommissioning, and decontamination.

Summarized from source with an LLMView SourceSector: Industrials

Revenue and profit

Revenue: £1,116.1m (FY25) up 5.6% from £1,057.0m. Adjusted operating profit: £72.1m (FY25) up 1.7% from £70.9m, reflecting continued top‑line growth with modest operating profit expansion.

Margins and returns

Adjusted operating margin at 6.5% (FY25) versus 6.7% in FY24. ROCE was 22% (FY25), above the company’s WACC (c.9.8%) but below FY24’s 25%, reflecting capital deployed and acquisitions.

EPS and dividend

Adjusted EPS increased to 67.1p (FY25) from 65.9p. The board is proposing a full‑year dividend of 20.00p (FY24: 19.00p), continuing the progressive dividend policy.

Cash, debt and facilities

Pre‑IFRS16 net cash reduced to £6.2m (FY25) from £25.7m (FY24); IFRS16 net debt stood at £21.5m (FY25). A £140m RCF is secured until October 2029 (margin c.150bps, commitment fee 35bps), supporting acquisition firepower.

Cash generation and FCF conversion

Excellent cash generation: reported strong EBITDA and high free cash flow conversion (multi‑year average ~69% with FY25 conversion in the 60s%), supporting dividends, M&A and working capital needs.

M&A, disposals and portfolio actions

Acquisitions: Full Circle (Oct 2024, £50.5m) and post‑period Emerald Power (Oct 2025, £12.3m). Disposal of Walter Lilly completed Oct 2024. Management continues to pursue bolt‑on M&A in attractive, opex‑backed markets.

Order book, markets and growth outlook

Order book of £915m (FY25) up from £889m. Renew emphasises exposure to non‑discretionary renewal & maintenance markets (rail, energy, environmental) and expects CP7 and other frameworks to underpin FY26 confidence.

Pensions, provisions and one‑offs

Amco pension buy‑out completed. A £10.0m provision remains for historic Allenbuild liabilities (cash outflow £2.8m in FY25). Exceptional items & amortisation were £11.5m (FY25).

Summarized from source with an LLMView Source

Key figures

6.41%1Y

22.9%3Y

19.0%5Y

Performance

23.9%1Y

27.6%3Y

28.0%5Y

Volatility