Foresight Environmental Infrastructure Limited, a leading listed investment company with a diversified portfolio of environmental infrastructure assets across the UK and mainland Europe, has released its half-year results for the period ending September 30, 2024. The companys Net Asset Value (NAV) per share is 109.8 pence, with a flat NAV total return of 0.04% for the period. FGEN remains on course to deliver an annual dividend of 7.80 pence, representing a yield of 10.1% on the share price. Operational assets delivered record cash receipts of £46.6 million, and construction progress is on track. The company has raised £68.1 million from asset sales and is prioritizing the repayment of its revolving credit facility, reducing gearing to 28.7%. A £20 million share buyback program was announced on August 15, 2024, of which £5.2 million has been returned to shareholders. The value of the companys green hydrogen investment has been written down after it failed to secure funding and entered administration.
| Year | Net Assets | Portfolio Value | Operating Income and Gain/(Loss) on Fair Value of Investments | Net Asset Value per Share | Distributions, Repayments and Fees from Portfolio | (Loss)/Profit Before Tax | Gross Asset Value | NAV Total Return | Annualised NAV Total Return | Total Shareholder Return | Annualised Shareholder Return |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 720.1 | 806.6 | 4.2 | 109.8p | 46.6 | (0.5) | 1,010.5 | 0.04% | 7.6% | 69.4% | 5.1% |
| 2023 | 751.2 | 891.9 | (3.8) | 113.6p | 87.0 | (13.9) | 1,091.8 | (1.6%) | 8.0% | 68.4% | 5.4% |