Sdcl Energy Efficiency I... Share Discussion Threads

[jonwig] 08/12/2022 07:30

H1 results;



Rising discount rates have inevitably brought about a lower NAV and overall loss.

Some projects (Oliva, Onyx) have had problems which we're assured are temporary.

Dividend guidance affirmed: 6p cash-covered for the year to next March.

[yump] 17/10/2022 12:35

Jeremy Hunt mentioned energy efficiency and SEIT has the word efficiency in its name.

Surely the price should now be 10x what it is ;-)

[jonwig] 15/10/2022 11:56

Video interview and presentation:




I don't see them suffering from a windfall tax, as most or all of their generation is behind the meter, on long-term contracts.

[pavey ark] 10/10/2022 18:50

Bought some today at 99p and have cash ready for more if it slips further.
I knew the windfall tax story would push it down even though it has a large part of its assets in the US.
6% yield, largely dollar denominated and some inflation indexation makes it look rather safe at these levels.....well as safe as anything can be !!??

[digger18] 05/10/2022 17:33

The horse is giving again!

[digger18] 04/10/2022 17:35

A gift horse when it dropped below £1.

[jonwig] 04/10/2022 07:20

Good to get a positive company update:



And concerted director buying as well.

[catch007] 28/9/2022 16:48

Bought a falling knife here unfortunately however price fall seems well overdone imho!

[digger18] 27/9/2022 18:25

However, we also benefit from selling power generation in USD which is a big positive.

[jonwig] 27/9/2022 17:03

The accounts for SEIT are the consolidated accounts of the holding company. They show zero debt, in fact net cash.

SEIT has a 100%-owned subsidiary, SEEIT Holdco (accounts at Companies House) which also has net cash. All the debt is held within the subsidiary (to Holdco) accounts of the operating companies. They don't say if these debts are non-recourse.

The 34% debt will be on a see-through basis, but we aren't given any numbers for this, and we can't access their accounts without names. In fact, I don't think you can access unquoted US company accounts unless you pay a large fee. UK ones are at Companies House.

So not at all transparent!

[cc2014] 27/9/2022 16:24

page 34 of the year end results presentation shows debt as £369m equivalent to 34% of NAV

[digger18] 27/9/2022 16:15

What debt? According to year end results, debt was Zero.

[cc2014] 27/9/2022 11:13

Ok, I skimmed the results presentation. LTV around average for this type of Trust, but debt needs renewing broadly between 2 and 5 years.

[cc2014] 27/9/2022 10:45

What to do? I don't know. 100p.

I haven't read the accounts, I'm not up to speed. In no way did I ever expect to see this price

[jonwig] 26/9/2022 15:37

digger - some folks sell their good stuff (which are in profit) and keep their rubbish in the vain hope that they'll eventually break even.

In markets like this, investors aren't always rational. I'm certainly not selling this.

[digger18] 26/9/2022 13:13

I don’t get this drop? Good sector with many assets in the USA,benefiting from generation of sales in USD as a bonus.
Can anyone tell me what I am missing?

[catch007] 26/9/2022 12:21

Bought a few more today on the drop circa 106p - below NAV seemed decent entry point though I may have caught a falling knife. £135m raised just weeks ago and oversubscribed so cash position is strong.

[gateside] 08/9/2022 22:33

Just checked my Interactive Investor account - have been credited my full allocation

[8w] 08/9/2022 21:20

Full allocation ..... credited to account tomorrow. (Message from HL.)

[gateside] 08/9/2022 19:14

Shares will be allocated in the morning, so I imagine we will find out then.

[apollocreed1] 08/9/2022 16:10

Anyone have news on how much allocation we got. Any scaling back for retail investors? Thanks

[jonwig] 07/9/2022 07:17

It went very well, so my caution was misplaced. But it shows a demand for quality companies.

[gateside] 07/9/2022 07:02

Taking into account the investor demand for this Issue, the Company's pipeline and the Company's available debt facilities, the Board has determined to increase the size of the Issue to approximately £135 million, and, accordingly the Company will issue a total of 118,421,053 New Ordinary Shares at a price of 114 pence per New Ordinary Share (the "Placing Price"). A scaling back process was undertaken.

[gateside] 06/9/2022 20:47

Well we will find out in the morning.
Then new shares will be allotted on Friday.