SDCL Energy Efficiency Income Trust PLC on Tuesday said its portfolio outperformed some metrics for 2023 as it aims to improve its capital value, after its share price dropped by a quarter in the past year.

SDCL Energy Efficiency Income Trust invests in assets in the energy efficiency sector, such as electric vehicle charging infrastructure and geothermal and biogas projects.

The company said that since October 1, its portfolio of energy efficient investments has performed in line with expectations, helping it to meet investment objectives.

Further, it said that its portfolio aggregate earnings before interest, tax, depreciation and amortisation outperformed for calendar year 2023, while an exercise to refinance debt at Primary Energy continued to progress well.

SDCL Energy added that it is on track to deliver fully cash-covered aggregate dividends of 6.24 pence per share for the financial year ending on March 31, up 4.0% from 6.00p paid for financial 2023.

Looking ahead, SDCL Energy said: ‘The company’s portfolio appears well positioned to continue to deliver strong levels of cash flow as well as opportunities for growth. The board and investment manager remain focused on protecting and improving the value of the portfolio, on careful capital allocation, on reducing its revolving credit facility through disposals and on maintaining a prudent approach to gearing in the medium term.’

SDCL Energy shares were 0.4% lower at 62.13 pence each on Tuesday morning in London. The stock is down 28% over the past 12 months.

Copyright 2024 Alliance News Ltd. All Rights Reserved.