Half Year 2024 SDCL Energy Efficiency Income Trust PLC Earnings Call Transcript

Dec 04, 2023 / 09:30AM GMT
Jonathan Maxwell - Sustainable Development Capital LLP - Chief Executive Officer, Founder

Thank you for joining us for the interim results presentation for the SDCL Energy Efficiency Income Trust or SEEIT for the period to September 30, 2023. I'm joined today by Eugene Kinghorn, who is the CFO of SDCL; and Purvi Sapre, who is the fund manager of SEEIT.

If there was one consistent theme associated with the challenging financial market conditions that we reference during this reporting period that could be summarized as a concern about the higher for longer interest rate inflation environment. SEEIT's net asset value was impacted by this higher interest rate and inflation environment through the discount rate applied to the portfolio and its valuation. At the same time, we took a more cautious approach in this valuation to certain cash flow and pipeline assumptions. And Purvi will address this later in the presentation.

Overall, the change in net asset value from 101.5p at the end of March to 90.6p at the end of September was approximately the same as the effect in the change in the

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