H1 Trading Update and Notice of Results

Renew Holdings PLC

01 April 2026

 

1 April 2026

Renew Holdings plc

("Renew" or the "Group" or the "Company")

H1 Trading Update and Notice of Results
First half in line with expectations, record order book drives confidence in full year

Renew (AIM: RNWH), the leading Engineering Services Group supporting the maintenance and renewal of critical UK infrastructure, provides the following trading update for the six months ended 31 March 2026 ("H1").

Trading Update

The Board confirms that trading and net cash for H1 is anticipated to be in line with its expectations.

Overall demand and momentum for our water services remain ahead of expectations as we move into the second year of AMP8. Our broad exposure to the water market across the UK and strong positioning across multiple services and capabilities provides further growth opportunities through the cycle as clients build momentum within this latest regulatory investment period.

The Group's performance within Rail remains in line with our expectations as reduced volumes of renewals activity continues to be offset by an increase in demand for maintenance services. Through our reactive maintenance frameworks, we have responded to numerous high profile rail events over the winter period helping to minimise the impact on the national rail network and its users.

Trading in Infrastructure has remained resilient throughout H1. Momentum has continued to build across our offering and with further successful collaboration and capability expansion, the Group remains well positioned to capitalise on the significant opportunities available in the latest Highways investment period, RIS3, which commences today.   

In Energy, the broadening of our service offering in the Electricity Transmission and Distribution sector has been well received and we are pleased with the performances of Emerald Power, acquired in October 2025, and Excalon, with both businesses maintaining good momentum into H2. Within our Civil Nuclear business, the long running site-wide industrial action at Sellafield continues to impact our performance at this site, albeit our existing frameworks underpin our expectations of a very healthy pipeline over the medium term. In onshore wind, Full Circle's short term performance has been impacted by underperformance in its French subsidiary, which is currently undergoing a restructuring review. We continue to be successful in winning new service agreements and remain confident in Full Circle's growth prospects over the medium term.

Supported by our strong balance sheet, we continue to actively assess a number of acquisitions in the Environmental and Energy sectors, which we expect to progress further in H2. Overall, we continue to review an active acquisition pipeline in line with our strategy of acquiring and integrating value-accretive businesses.

Underpinned by extensive Government spending commitments and long-term framework positions, the Group's order book continues to be at record levels, demonstrating our core capabilities and established presence in a diverse range of long-term, sustainable growth sectors. The Group remains strongly positioned with a well balanced portfolio of businesses, providing us with confidence in delivering against our full year expectations.

Notice of Results

Renew's interim results for the six months ended 31 March 2026 will be announced on Tuesday 12 May 2026.

¹ Company compiled analyst consensus for adjusted revenue of £1,185.8m, adjusted operating profit of £77.6m and pre-IFRS 16 net cash of £20.0m

ENDS

For further information, please contact:

Renew Holdings plc	www.renewholdings.com
Paul Scott, Chief Executive Officer	via FTI Consulting
Sean Wyndham-Quin, Chief Financial Officer	020 3727 1000
Deutsche Numis (Nominated Adviser and Joint Broker)	020 7260 1000
Stuart Skinner / Kevin Cruickshank / Will Wickham
Peel Hunt LLP (Joint Broker)	020 7418 8900
Ed Allsopp / Charlotte Sutcliffe
FTI Consulting (Financial PR)	020 3727 1000
Alex Beagley / Amy Goldup / Matthew Young / Harleena Chana	[e-mail]

About Renew Holdings plc

Renew is a leading UK Engineering Services business, performing a critical role in keeping the nation's infrastructure functioning efficiently and safely. The Group operates through independently branded subsidiaries across its chosen markets, delivering non-discretionary maintenance and renewal tasks through its highly skilled, directly employed workforce.

Renew's activities are focused on Engineering Services in the key markets of Rail, Infrastructure, Energy (including Wind and Nuclear) and Environmental which are largely governed by regulation and benefit from non-discretionary spend with long-term visibility of committed funding.

For more information please visit the Renew Holdings plc website: www.renewholdings.com

 

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