Downing Renewables & Infrastructure Trust
Company Notes
H1 2023 Results: Hydro Provides Long-term Optionality
On 18 September 2023, DORE* published its interim results for the six months to 30 June 2023. Highlights included:
+1.6% NAV total return over the six-month period. NAV per share -0.5% to 116.0p;
+30.5% NAV total return since IPO in December 2020;
Weighted average discount rate increased slightly from 7.7% to 7.8%;
£25m deployed YTD with the completion of four investments;
Leverage at 32% of GAV as at 30 June, increasing to c.36% post period-end;
207GWh of power generated over the period (+20% increase over H1 2022);
On track to deliver 5.38p dividend in FY23.
*denotes a corporate broking client of Winterflood Securities
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