Aug 04, 2023 / 08:00AM GMT
Richard Crawford - InfraRed Capital Partners - Director of Infrastructure
Good morning. I'm Richard Crawford, Fund Manager of TRIG and senior representative of the InfraRed team. TRIG's performance in the first half of 2023 has been robust, characterized by high levels of cash flow generation, good progress on construction projects and the continued delivery of the company's dividend.
Taking each of these in turn, Resilient portfolio performance, the portfolio generated a very healthy operational cash flow in H1 of GBP 264 million, reflecting the higher power price environment and inflation-linked government subsidies. The company's NAV per share at 30th of June was 132.2 p, decreasing by 2.4p in the period. This overall result was primarily driven by an increase in the portfolio weighted average discount rate to 7.9% but with value increases from active management, such as securing attractive power price fixes and increases in inflation assumptions. This results in a portfolio valuation of GBP 3.7 billion, representing the largest diversified renewables portfolio in the investment company sector.
Half Year 2023 Renewables Infrastructure Group Ltd Earnings Call Transcript
Aug 04, 2023
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