REG - Aquila Eur Renwables Aquila Euro Rnw-AERI - Net Asset Value & Factsheet

Aquila European RenewablesAnnouncement

03/05/2024 07:00

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RNS Number : 0858N  Aquila European Renewables PLC  03 May 2024

3 May 2024

Aquila European Renewables plc

 

Net Asset Value and Factsheet - March 2024

 

Aquila European Renewables plc (the Company), a Euro income fund, announces
its unaudited net asset value ("NAV") as at 31 March 2024, on a cum-income
basis, was EUR 353,538,451 or 93.5 cents per ordinary share. This represents a
NAV total return of (3.7%) per Ordinary Share over the quarter.

 

Key drivers of the NAV movement in Q1 2024:

 

 ·   Decrease in European, especially Iberian, short-term power price forecasts
     relative to Q4 2023, mirroring lower commodity prices and demand due to mild
     winter weather conditions, partially offset by increase in Nordic mid-to-long
     term forecast prices driven by expectation of higher carbon prices and slower
     wind buildout due to higher investment costs (-4.3 cents per Ordinary Share);
 ·   Marginal decrease in risk-free rates across the portfolio (+2.1 cents per
     Ordinary Share);
 ·   Higher balancing costs for Nordic assets, new generation tax in Spain and
     increased social cost assumptions in Portugal (-2.4 cents per Ordinary Share).

 

A sensitivity of NAV against discount rates, inflation and power prices can be
found below.

 

 Assumption             Impact on NAV per

                      Ordinary Share

 Discount rate  +0.5%   -5 cents
                -0.5%   +5 cents
 Inflation      +0.5%   +5 cents
                -0.5%   -4 cents
 Power price    +10.0%  +11 cents
                -10.0%  -11 cents

 

Further details will shortly be available in the quarterly factsheet on the
Company's website at: https://www.aquila-european-renewables.com.

 

For further details contact:

For further details contact:

 

Media contacts

Edelman Smithfield

Ged Brumby 07540-412301

Hamza Ali 07976 308914

 

Sponsor, Broker and Placing Agent

Numis Securities 020 7260 1000

Tod Davis

David Benda

George Shiel

 

 

NOTES

 

The objective of Aquila European Renewables plc is to provide investors with
an attractive long-term, income-based return in EUR through a diversified
portfolio of wind, solar PV and hydropower investments across continental
Europe and Ireland. Through the diversification of generation technologies,
the seasonal production patterns of these asset types complement each other to
balance the cash flow, while the geographic diversification serves to reduce
exposure to one single energy market. In addition, a balance is maintained
between government supported revenues, fixed price power purchase agreements
and market power price risk.

 

www.aquila-european-renewables.com (http://www.aquila-european-renewables.com)

 

LEI: 213800UKH1TZIC9ZRP41

 

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