BBGI Global Infrastructure SA said on Thursday it increased its profit in 2021 and raised its full-year payout as the company’s portfolio value grew.
The Senningerberg, Luxembourg-based infrastructure investment company reported a net asset value of 140.7 pence per share at December 31. This increased 2.1% from 137.8p per share at the same time the previous year.
BBGI said the increase in NAV was from the unwinding of discounts and value accretive enhancements. It said the portfolio value growth from the unwinding of discounts was approximately £59.8 million in the year.
The company’s portfolio value at December 31 stood at £975.2 million, representing an 8.9% increase from £895.7 million at the end of 2020. It had 54 assets at December 31, 99.5% of which were fully operational.
Pretax profit rose 37% to £60.7 million in 2021, rising from £44.3 million the year before.
BBGI said the company has no operational, portfolio or geographical exposure to Russia, Ukraine and the neighbouring central and eastern European regions. Looking forward, the company believes the future for infrastructure investment remains ‘strong’.
In 2021, BBGI declared a total dividend of 7.33 pence per share, up from 7.18p in 2020. It announced a dividend target of 7.63p per share for 2022 and 2023.
BBGI shares were down marginally to 175.12p each in London on Thursday morning.
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