Sdcl Energy Efficiency I... Share Discussion Threads

[hindsight] 07/2/2024 11:34

Dont hold any, but looking at the fall in these would think 60p average is good going for a holder

Amazing the carnage in ZIRP funds, clearly the money entering the economy from these type of projects will dry up

[cc2014] 07/2/2024 11:19

Always nice to catch the bottom but since that was around my 10th purchase and my average is 60p I'm not sure I have much to celebrate.

[return_of_the_apeman] 07/2/2024 10:37

Tide looks to be turning, you may have caught the bottom :-)

The update though short on detail is reassuring imho

[cc2014] 06/2/2024 15:28

OMG. Is this actually going to end up positive today?

I bought some more yesterday.

[stemis] 05/2/2024 22:31

Thought the update was vague and lacking in detail and has done nothing to change my uncertainty as to whether the dividend is sustainable or the valuations remotely realisable if they decided to wind up.

[pottsypotts] 05/2/2024 20:35

I don't think they are exposed to battery storage ( BESS) already had to take a hit with HEIT shareshttps://www.seeitplc.com/wp-content/uploads/2023/06/SEEIT-31-March-2023-Annual-Results-Presentation-1.pdf

[igoe104] 05/2/2024 15:58

Once you see interest rates start falling these should bounce significantly. Its amazing everyone banging on about companies like nvidia which are on silly ratings. When you have many bargains around on the UK market including these...

[hugepants] 05/2/2024 14:55

12% yield now. Not many of these around.

[ghhghh] 05/2/2024 13:23

I'm buying more today because, however you stack it, the BoD are implying 'Don't panic chaps, no big write downs and dividend is safe.'

The NAV at 90p and a 11.75% dividend yield allow enough wriggle room that, unless they are all a bunch of charlatans and fraudsters (and I'm confident that they are not), then I should make money from here.

[spectoacc] 05/2/2024 13:20

If there's only minor impairments, the divi is safe IMO.

But agree it'll be the next RNS or two before we have better answers.

No nasties in today's RNS really, which should have been worth something from all-time lows.

[8w] 05/2/2024 12:37

'I'm also assuming the yield is safe'

That's the problem, we have to make assumptions. Not enough hard data. Woolly narrative not ideal for making investment decisions.

Discount fully justified until the Board put out meaningful info. Let's hope for better in March

[spectoacc] 05/2/2024 12:23

No dispute with that analysis BUT there's also no nasties. Some non-material write-downs (could be up to 10%) and some potential disposals supporting NAV (but as ever - selling the stuff that isn't impaired, not that which is).

Bottom line - this discount?? I'm also assuming the yield is safe.

[jonwig] 05/2/2024 10:50

The whole statement is a tease. Are the things they want to sell going to be the same as the ones which are underperforming ... or not?

As you are saying, ghhghh, statements about averages can conceal issues.

[ghhghh] 05/2/2024 10:02

The pursuit of selected disposals from the portfolio is a priority for the Investment Manager and it has now received a number of credible proposals in relation to multiple assets which are within its range of pricing expectations and thereby support the most recently published net asset value.

'thereby support the most recently published net asset value'

Does this imply no significant write downs anticipated on the rest of the portfolio?

Bit ambiguous if it doesn't? Should have said 'in line'?

[spectoacc] 05/2/2024 08:49

Market says we're wrong and prefers to hover at all-time lows.

[spectoacc] 05/2/2024 08:19

They're softening us up for some minor impairments IMO, but nothing material or they'd have had to say today.

Battery storage exposure is next to nothing AFAIK, from another poster.

A few sales to "prove" the NAV and it ought to demonstrate the value here. But the best part is - we're paid to wait.

[ghhghh] 05/2/2024 08:01

Agreed, I've been part selling API and GCP to pile in here at sub 55p. The risk is the realisability of that 90p NAV and today's update partially alleviates that.

The worry now is which assets are sub performing? IMO a profit warning is usually followed by another and then yet another...

Does SEIT have any exposure to UK battery storage?

[spectoacc] 05/2/2024 07:12

Generally positive:

".....Portfolio Trading Update

The Company is pleased to report that in aggregate the operational cashflows being generated in the final quarter of the calendar year 2023 have remained in line with the Investment Manager's expectations, continuing the progress outlined in the Interim Accounts, notwithstanding there has been some variability in individual asset performances in the period. The Investment Manager continues to monitor project specific KPI's carefully and actively engage with the different management teams as required. Further project specific updates will be provided in its 31 March 2024 results.

Portfolio Disposals

The pursuit of selected disposals from the portfolio is a priority for the Investment Manager and it has now received a number of credible proposals in relation to multiple assets which are within its range of pricing expectations and thereby support the most recently published net asset value. Whilst there can be no certainty that these proposals will result in a sale, the Investment Manager is focused on progressing these processes expediently and will provide further updates in due course. "


So either the 31 March results have some NAV-ish disposals, or some impairments, or both. But difficult to see the current discount as warranted (I hold).

[8w] 01/2/2024 21:54

Alternative IT's created to feed the search for yield are having a tough time. Some, spectacularly so. The promise of yield could be maintained for a time but higher interest rates and poor management have had disastrous consequences for a surprising number. Battery storage being the latest casualty.
What of SEIT? Are we on strong foundations or is the sand shifting beneath our feet ?

[cc2014] 18/1/2024 13:36

I agree. Inflation was never going to fall in a straight line to 2% and as long as wage rises continue well above inflation it's going to take a long while to get there.


So far we've had two announcements in the sector on dividends. In the end the fund managers can think what they like about their perception of future earnings but as long as the yields keep growing eventually share prices are going to move up

ROOF - up 10% to 5.5p
ORIT - up 4% to 6.02p

[spectoacc] 18/1/2024 13:08

I think that's a good analysis of SEIT's position (but I would say that, being long from higher).

Inflation's due to fall, but sustainably to 2% - I doubt it.

[hpcg] 18/1/2024 10:50

Bought in today. I think the market at the margin is reacting too strongly to volatility in the inflation series which is not a signal the trend has reversed. This should become apparent in a months time when we see December, and even more more so (and an extra more for luck) when January is released. That nicely leads into dividend record date. So I see a sweet spot here in the next couple of weeks that captures an ennui discount. Not sure if it is a trade or for the long term. The spreadbets are for sure a trade. The SIPP shares may end up long term if it behaves sufficiently strongly. I am sceptical that there are people with special insight, there would be notifiable short positions.

[spectoacc] 17/1/2024 16:37

Only 2m in total traded today, so guessing they're spent up. Arguably setting a new low here, along with several (eg DGI9) & personally I can see all the rest joining them. Some already not far off like GRID

[hugepants] 17/1/2024 16:31

it was a week after