Renew Holdings (RNWH) Q2 2026 TU earnings summary

Executive summary

• H1 trading and net cash are anticipated to be in line with expectations for the six months ended 31 March 2026.

• Record order book underpins confidence in meeting full-year expectations.

• Strong demand and momentum in water services, with broad exposure across the UK.

• Resilient performance in Infrastructure and Rail, with maintenance offsetting reduced renewals.

• Energy segment benefits from recent acquisitions and expanded service offerings, despite some challenges in Civil Nuclear and onshore wind.

Financial highlights

• Analyst consensus for adjusted revenue is £1,185.8m for the period.

• Adjusted operating profit expected at £77.6m.

• Pre-IFRS 16 net cash position anticipated at £20.0m.

Outlook and guidance

• Confidence in delivering full-year expectations, supported by a record order book and government spending commitments.

• Continued review of acquisition opportunities in Environmental and Energy sectors, with further progress expected in H2.