Atrato Onsite Energy PLC Operational update and unaudited Net Asset Value (5651A)
2023年5月25日 - 3:00PM
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RNS Number : 5651A
Atrato Onsite Energy PLC
25 May 2023
25 May 2023
LEI: 213800IE1PPREDIIZB62
Atrato Onsite Energy plc
(the "Company")
Operational update and unaudited Net Asset Value
Atrato Onsite Energy plc (LSE: ROOF), the investment company
focusing on clean energy generation, announces an operational
update and its unaudited net asset value ("NAV") as at 31 March
2023.
Portfolio update
In the period from 1 October 2022 to date, the Company committed
a total of GBP69 million into 4 new solar PV systems with a total
capacity of 80MW. The Company also entered into two large scale
framework agreements, which gives it exclusivity on multiple
potential commercial rooftops across the UK. This includes Tesco,
which was announced in February 2023 and a separate agreement with
a FTSE250 property company. The Company has now committed its IPO
proceeds.
The Company's investment portfolio comprises 40 projects across
10 off-takers, with a total capacity of 142 MW.
New RCF facility
Having committed all of the IPO proceeds, the Company is in
advanced discussions to secure a Revolving Credit Facility, which
will be utilised to fund further acquisition opportunities.
Pipeline update
The Company is experiencing strong corporate demand for its
renewable energy solutions and its pipeline of opportunities now
stands at GBP340m. A more detailed update on the pipeline will be
provided at the Company's interim results presentation on 13 June
2023.
Net Asset Value
The Company's NAV as at 31 March 2023 was GBP140.7 million or
93.8 pence per Ordinary Share (30 September 2022: 139.1 million or
92.8 pence per Ordinary Share).
The weighted average unlevered discount rate for the period end
valuation was 6.2% (September 2022: 6.6%). The reduction in
discount rate is a result of the macro-economic environment
stabilising and certain installation projects reaching key
milestones.
Movement in Net Asset Value in the 6-month GBPm Pence per
period ending 31 March 2023 share
Audited NAV at September 2022 139.1 92.8
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Dividends paid (3.8) (2.5)
------ ----------
Discount rate movement 3.9 2.6
------ ----------
Re-rate on yield 3.3 2.2
------ ----------
Net operating cash flow (1.8) (1.3)
------ ----------
Unaudited NAV as at 31 March 2023 140.7 93.8
------ ----------
Power prices
The recent decline in the wholesale power price has had a
minimal impact on the Company's NAV. The Company has one of the
highest levels of contracted revenue in the UK listed renewables
sector; 97% of annual revenue is contracted. Accordingly, a 10%
reduction in power prices has a 1.6% impact on the Company's
valuation as at 31 March 2023. The Investment Adviser believes this
is the lowest sensitivity in the sector.(1)
Outlook
Since September 2022, the Company has completed 4 transactions
and signed two framework agreements. The Company has now committed
its IPO proceeds.
The UK renewables sector is experiencing favourable tailwinds
from the combination of volatile energy prices and the global drive
towards Net Zero. Atrato Onsite Energy remains ideally positioned
to help facilitate the shift to renewable energy and we look
forward to the continued growth of the Company throughout 2023 and
beyond.
ENQUIRIES
Atrato Partners
Gurpreet Gujral
Christopher Fearon +44 (0)77 959 75560
Berenberg
Gillian Martin
Ben Wright
Dan Gee-Summons +44 (0)20 3207 7800
Kaso Legg Communications atrato@kl-communications.com
Charles Gorman +44 (0)20 3995 6673
Millie Steyn +44 (0)20 3995 6671
Notes to Editors
Atrato Onsite Energy plc (LSE: ROOF) is an investment company
focused on clean energy generation with 100% carbon traceability.
The Company focuses on UK commercial solar, helping its corporate
clients achieve net zero and reduce their energy bills. It raised
GBP150 million in a significantly oversubscribed IPO in November
2021. Atrato Onsite Energy plc aims to provide investors with
attractive capital growth and secure, index-linked income,
targeting a 5% dividend yield and a total shareholder return of 8 -
10%(2) . Its shares were admitted to trading on the premium segment
of the Main Market of the London Stock Exchange on 23 November
2021. Atrato Partners Limited is the Company's investment
adviser.
Further information is available on the Company's website,
www.atratoroof.com .
(1) Sector comprises UK listed, solar focused investment
companies
(2) The target dividend set out above is a target and is not a
profit forecast. There can be no assurance that this target can or
will be met. This target has been developed based upon assumptions
with respect to future business decisions and conditions that are
subject to change, including the Company's execution of its
investment objective and strategies, as well as growth in the
sector and markets in which the Company operates. As a result, the
Company's actual results may vary from the targets set out above
and those variations may be material. The target dividend yield
reflects the IPO price of 100 pence per Ordinary Share.
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END
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May 25, 2023 02:00 ET (06:00 GMT)
Atrato Onsite Energy (LSE:ROOF)
過去 株価チャート
から 4 2024 まで 5 2024
Atrato Onsite Energy (LSE:ROOF)
過去 株価チャート
から 5 2023 まで 5 2024