Greencoat Renewables PLC Interim Results to 30 June 2023 (6849M)
2023年9月18日 - 3:00PM
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TIDMGRP
RNS Number : 6849M
Greencoat Renewables PLC
18 September 2023
Greencoat Renewables 2023 Interim Results
Dublin, London | 18 September 2023: Greencoat Renewables PLC
("Greencoat Renewables" or the "Company") today announces its
results for the six months ended 30 June 2023, which have been
published in full on the Company's website:
www.greencoat-renewables.com .
Highlights
-- 1,489 GWh of electricity generated in the period (H1 2022: 1,127 GWh)
-- Net cash generation of EUR125.5 million(1) (H1 2022: EUR92.1
million) and delivering gross dividend cover of 3.5x(2) (H1 2022:
3.0x)
-- Completed three acquisitions totalling EUR275.5 million,
increasing the portfolio to 38 renewable generation and storage
assets across six European countries
-- Increased total capacity to 1.32GW (H1 2022: 1.03GW)
-- Aggregate Group Debt of EUR1,154.1 million, equivalent to 47% of GAV
-- Dividends of 3.21 cent per share declared with respect to the period
Commenting on the results, Ronan Murphy, Non-Executive Chairman
of Greencoat Renewables, said:
"I am pleased to confirm another successful period for the
Company, evidenced by continued strong cash generation, increased
dividend cover and acquisitive growth.
We deployed a total of EUR275.5 million in the period, acquiring
three new assets which increased our portfolio generation capacity
to 1.32GW across six European countries. The expansion of the
portfolio demonstrates our ability to selectively deploy capital
into strategic locations that provide value accretive opportunities
for revenue diversification and long-term growth.
As Europe continues to pursue greater energy independence with
Net Zero targets, the opportunity and investment case for
renewables remains strong. Given our depth of experience and
approach to active asset management, we are well-positioned to play
a leading role in enabling this energy transition."
(1) Stated gross of scheduled SPV level debt repayments
amounting to EUR3.5 million.
(2) Net dividend cover for the same period was 3.4x.
Key Metrics
As at 30 June 2023
--------------------------------------------------------- -------------------
Market capitalisation EUR 1 ,162 million
Share price 101.8 cent
Dividends declared with respect to the period EUR 36.6 million
Dividends declared with respect to the period per share 3.21 cent
GAV EUR 2,446 million
NAV EUR 1,292 million
NAV per share 113.2 cent
Premium / (Discount) to NAV (10.1) %
CO(2) emissions reduced per annum >800,000 tonnes
Homes powered per annum >700,000 homes
Funds committed in community funds and social projects EUR 1.4 million
--------------------------------------------------------- -------------------
A copy of the Interim Results has been submitted to the National
Storage Mechanism and will shortly be available for inspection at:
https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism
.
Conference call for analysts and investors
A conference call and webcast for analysts and investors will be
held at 10.00am BST today, 18 September 2023. To register please
contact FTI Consulting by email at greencoat@fticonsulting.com
.
Presentation materials are available on the Company's website:
www.greencoat-renewables.com .
--- ENDS ---
For further details contact:
Schroders Greencoat LLP (Investment Manager)
Bertrand Gautier
Paul O'Donnell
Tom Rayner +44 20 7832 9400
FTI Consulting (Investor Relations & Media)
Melanie Farrell +353 1 765 0883
Orla Cox greencoat@fticonsulting.com
Davy (Broker, NOMAD and Euronext Growth Listing Sponsor)
Ronan Veale
Brian Garrahy +353 1 679 6363
RBC Capital Markets (Joint Broker)
Matthew Coakes
Elizabeth Evans +44 20 7653 4000
About Greencoat Renewables PLC
Greencoat Renewables PLC is an investor in euro-denominated
renewable energy infrastructure assets. Initially focused solely on
the acquisition and management of operating wind farms in Ireland,
the Company is now also investing in wind and solar assets in other
European countries with stable and robust renewable energy
frameworks. It is managed by Schroders Greencoat LLP, an
experienced investment manager in the listed renewable energy
infrastructure sector.
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