SDCL Energy Efficiency Income Trust plc

(“SEEIT” or the “Company”)

Announcement of Interim Results for the six-month period ended 30 September 2024 

SDCL Energy Efficiency Income Trust plc (LSE: SEIT) (“SEEIT” or the “Company”) today announces its financial results for the six-month period ended 30 September 2024.

Highlights

·   Net Asset Value (“NAV”) per share of 90.6p as at 30 September 2024 (31 March 2024: 90.5p; 30 September 2023: 90.6p)

·      Weighted Average Discount Rate of 9.4% levered, in line with March 2024 and September 2023.

·      Investment cash inflow from the portfolio of £48 million on a portfolio basis (September 2023: £47 million)

·    Aggregate dividends of 3.16p per share declared for the six months ended 30 September 2024, in line with guidance (September 2023: 3.12p)

·      Dividend cash cover of 1.1x for the six months ended 30 September 2024 (September 2023: 1.1x) 

·      Target dividend guidance remains 6.32p per share for the year to March 2025, an increase of c.1%

·      Profit before tax of £35 million for the six months ended 30 September 2024, up from a loss of £89 million in the equivalent period last year

·      Portfolio valuation of £1,102 million as at 30 September 2024, (£1,117 million at 31 March 2024)

·      Investment of c.£98 million into organic investments and existing commitments during the period (30 September 2023: £93m)

Tony Roper, Chair of SEEIT, said:

“We are pleased that both SEEIT’s operational and financial performance for the period were in line, or a little above budget and generated cash flows that fully underpinned the Company’s progressive dividend policy.

“We are strongly of the view that SEEIT’s share price does not reflect the value of its investments nor the cashflows derived from them. To this end, the Board and Manager remain focused on addressing the share price discount by supporting the marketability and liquidity of the Company’s shares.”