SDCL Energy Efficiency Income Trust (LSE: SEIT)

Last close As at 12/07/2024

GBP0.63

0.50 (0.80%)

Market capitalisation

GBP681m

SDCL Energy Efficiency Income Trust’s objective is to generate an attractive total return for investors, comprising a stable dividend income and capital preservation, with the opportunity for capital growth.

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Equity Analyst

Andrew Keen

MD - Head of Content, Energy & Resources, Industrials

Harry Kilby

Analyst

Key Management

  • Tom Hovanessian

    Investment Director

  • Tony Roper

    Chairman

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (4.0) 12.8 (13.0)
Relative (5.4) 8.1 (23.4)
52 week high/low 79.5p/51.8p

Overview

SDCL Energy Efficiency Income Trust (SEEIT) recorded a 9% increase in cash from investments in FY24, generating £92.5m (FY23: £85.1m), ensuring its DPS of 6.24p was fully covered by cash 1.1x. The board guided a target dividend of 6.32p per share for FY25 (9.5% prospective yield). The portfolio valuation stood at £1,117m (4.8% increase from H124 and 1.6% from FY23). Both SEEIT’s NAV and NAV per share remained flat for FY24, at £982m and 90.5p/share, compared to H124, with the majority of the reduction from FY23 (£1,125m and 101.5p/share) arising from the unrealised impact of increased discount rates applied in the first half of FY24. SEEIT currently trades at a 26% discount to NAV with a 9.4% dividend yield, and management has made strong progress in addressing the discount to NAV through proving its asset valuations.

Further insights

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