Renew Holdings PLC

RNWH

Equity

ISIN GB0005359004 / Valor 181831

LSE London Stock Exchange, SETS (2026-06-30)

GBP 8.86+0.45%

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

Top‑line and operating profit

Revenue increased to £1,116.1m (FY24: £1,057.0m; +5.6%). Adjusted operating profit was £72.1m (FY24: £70.9m; +1.7%) and adjusted operating margin was 6.5% (FY24: 6.7%).

EPS and dividend

Adjusted EPS rose to 67.1p (FY24: 65.9p; +1.8%). The proposed full‑year dividend is 20.00p (FY24: 19.00p), supporting management’s confidence for FY26 underpinned by the strong order book.

Returns and margins

Reported FY25 ROCE was 22% (FY24: 25%) — still comfortably above the stated WACC of 9.8% — although ROCE and adjusted margin showed modest year‑on‑year compression.

Balance sheet and liquidity

Pre‑IFRS16 net cash was £6.2m (FY24: £25.7m); IFRS16 net debt reported at £(21.5)m (FY24: £1.1m). A £140m revolving credit facility is secured until October 2029 (margin ~150bps, commitment fee 35bps), providing acquisition firepower.

Cash generation and free cash flow

Strong cash generation continued (net cash bridge highlights ~£88.0m cash generation line), with multi‑year average free cash flow conversion around 69% and FY25 conversion in the c.60s% range, supporting dividends, M&A and capital allocation.

M&A, disposals and strategic moves

Renew completed acquisition of Full Circle (Oct 2024, c.£50.5m) and announced post‑period acquisition of Emerald Power (Oct 2025, £12.3m). Walter Lilly was disposed of in Oct 2024. Management continues to target value‑accretive, opex‑focused engineering assets.

Other notable items and provisions

Exceptional items and amortisation totalled £11.5m. The group completed the Amco pension buy‑out and maintained a £10.0m provision for historical Allenbuild liabilities (cash outflow £2.8m in the year). Profit before tax was £56.7m (FY24: £60.2m) and taxation was £12.3m.

Order book and market position

Order book rose to £915m (FY24: £889m), with large addressable markets across rail, energy and environmental services and multiple long‑dated frameworks (Network Rail CP7, AMP8, transmission & distribution), reinforcing visibility for FY26 growth.

Summarized from source with an LLMView Source

Key figures

4.24%1Y

19.1%3Y

31.3%5Y

Performance

24.1%1Y

27.5%3Y

28.3%5Y

Volatility