REG - Digital 9 Infrastr. - Results for the half year ended 30 June 2025

Digital 9 InfrastructureAnnouncement

26/09/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250926:nRSZ9155Aa&default-theme=true

RNS Number : 9155A  Digital 9 Infrastructure PLC  26 September 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER
THE UK'S MARKET ABUSE REGULATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT,
SUCH INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

26 September 2025

 
 

DIGITAL 9 INFRASTRUCTURE PLC

("D9" or the "Company" and, together with its subsidiaries, the "Group")

 

 

 Results for the half year ended 30 June 2025

 

The Board of Digital 9 Infrastructure plc (the "Board") announces the
Company's unaudited results for the half year ended 30 June 2025.

 

Eric Sanderson, Chair of D9, said: "With the first phase of the wind-down
largely complete, the Company's financial position is now stabilised. We have
a platform to maximise shareholder value over time, following the full
repayment of the RCF and completion of the Aqua Comms sale expected by the end
of the year. With value-enhancing initiatives underway at Elio Networks and
key decisions in relation to contract renewals regarding Arqiva's DTT business
to take place in 2027, significant value remains to be unlocked. The Board and
Investment Manager continue to seek opportunities to maximise value for
shareholders."

 

Highlights

·   Strong progress made towards the wind-down of the Company with the
disposal of SeaEdge UK1 in June (£10.3 million net consideration), the
completion of the EMIC-1 divestment in May ($43.0 million net consideration)
and the announcement of the Aqua Comms divestment in January ($44.5 million
net consideration including completion account adjustments and adverse foreign
exchange movements as of June 2025).

·   Full repayment of the Group's Revolving Credit Facility ("RCF"), which
stood at £53 million as of December 2024, using divestment proceeds from
SeaEdge UK1 and EMIC-1 alongside working capital surpluses in June 2025.

·  First capital returns to shareholders expected in early 2026, following
the expected completion of the Aqua Comms divestment which remains subject to
multi-jurisdictional regulatory approvals. The quantum of capital returns is
subject to final Aqua Comms proceeds and the Company's future working capital
requirements.

·   The Prior Year Adjustment ("PYA") Review, which was announced in the 31
December 2024 annual results, was concluded by the independent expert in the
period. This has resulted in a downwards adjustment to the 31 December 2023
valuation of £111.5 million.

·   Robust operational performance from remaining operating assets Elio
Networks and Arqiva in the first half of 2025. We continue to expect sale
processes for these assets to commence in 2027 to maximise potential value for
D9's shareholders.

·    Net Asset Value ("NAV") of £283.1 million (or 32.7 pence per share)
as of 30 June 2025, compared with £297.3 million (34.4 pence per share) as of
31 December 2024.

·   The 1.7p decline in the NAV of the Company over the last six months was
primarily driven by a 0.7p fair value   movement in Aqua Comms due to updates
to the completion accounts and adverse foreign exchange movements, 0.5p due to
the write-down of Verne Global Earn-Out to £Nil, and other fund operating
costs in the D9 Group, offset by 0.4p business plan out-performance at Elio
Networks.

·   Aggregate revenues for the Investee Companies during the period
amounted to £379 million, 6% higher than the same six-month period to 30 June
2024 (£357 million). The increase was largely attributable to the ramping up
of water metering contracts at Arqiva.

·    EBITDA over the period decreased by 3% to £166 million, mainly due
to a changing business mix at Arqiva.

 As at                         30 June 2025  31 December 2024  30 June 2024
 IFRS NAV                      £283m         £297m             £403m
 IFRS NAV per share            32.7p         34.4p             46.6p
 IFRS Investment Valuation     £279m         £286m             £384m
 Total Portfolio Value(1)      £280m         £331m             £424m
 Aggregate Group debt(1)       £191m         £238m             £233m
 Group Cash (unrestricted)(1)  £4.0m         £17.7m            £23.9m

 

 For the period                         Six months to  Twelve months to   Six months to

                                        30 June 2025   31 December 2024   30 June 2024 (Restated)
 Earnings per share                     (1.7p)         (45.0p)            (19.8p)
 Ongoing Charges Ratio (annualised)(1)  1.90%          1.82%              1.63%
 Dividends paid per share               -              -                  -
 Total return (based on NAV)(1)         (4.7%)         (48.3%)            (29.8%)

 

(1) Alternative Performance Measure ("APM"). Further information on APMs can
be found in the Annual Report.

 For the period                  Six months to  Six months to  Year-on-year

                                 30 June 2025   30 June 2024   change %
 Consolidated Portfolio Revenue  £378.8m        £356.9m        6%
 Aqua Comms(2)                   £16.6m         £16.0m         4%
 Arqiva                          £358.1m        £336.2m        7%
 Elio Networks                   £4.1m          £4.1m          -
 Consolidated Portfolio EBITDA   £165.6m        £170.2m        (3%)
 Aqua Comms(2)                   £6.5m          £3.6m          82%
 Arqiva                          £157.0m        £164.0m        (4%)
 Elio Networks                   £2.0m          £2.2m          (9%)

 

(2) Excluding EMIC-1

 

 

Contacts

 

 Digital 9 Infrastructure plc                                                                                                via FTI Consulting

 Eric
 Sanderson
 InfraRed Capital Partners Limited                                                                                           +44 (0) 207 484 1751

 James O'Halloran

 Mohammed Zaheer
 J.P. Morgan Cazenove (Corporate Broker)                                                                                     +44 (0) 20 7742 4000

 William Simmonds

 Jérémie Birnbaum
 Panmure Liberum Limited (Financial Adviser to the Company)                                                                  +44 (0) 203 100 2222

 Chris Clarke

 Darren Vickers
 FTI Consulting (Communications Adviser)                                                                                     dgi9@fticonsulting.com (mailto:dgi9@fticonsulting.com)

 Mitch Barltrop                                                                                                              +44 (0) 7807 296 032

 Maxime Lopes                                                                                                                +44 (0) 7890 896 777

 

LEI Code: 213800OQLX64UNS38U92

 

The person responsible for arranging the release of this announcement on
behalf of the Company is Uloma Adighibe of Hanway Advisory Limited, the
Delegated Company Secretary.

 

About Digital 9 Infrastructure plc

 

Digital 9 Infrastructure plc (DGI9) is an investment trust listed on the
London Stock Exchange and a constituent of the FTSE All-Share, with the ticker
DGI9. The Company's investment objective is to undertake a Managed Wind-Down
of the Company and realise all existing assets in the Company's portfolio in
an orderly manner. For more information, please visit www.d9infrastructure.com
(http://www.d9infrastructure.com) .

 

About InfraRed Capital Partners (Investment Manager to D9 appointed to effect
the wind-down)

 

InfraRed was appointed in an advisory position on 11 October 2024 and AIFM on
11 December 2024 to effect the Managed Wind-Down of D9.

 

InfraRed manages US$13bn of equity capital(3) for investors around the globe,
in listed and private funds across both core and value-add strategies.
InfraRed combines a global reach, operating worldwide from offices in London,
Madrid, New York, Sydney and Seoul, with deep sector expertise from a team of
more than 160 people. InfraRed is part of SLC Management, the institutional
alternatives and traditional asset management business of Sun Life, and
benefits from its scale and global platform.

 

For more information, please visit https//:www.ircp.com (http://www.ircp.com/)
.

 

(3) Uses 5-year average FX as at 30 June 2025 of GBP/USD of 1.2851; EUR/USD
1.1071. EUM is USD 13bn

 

Publication of documentation

 

This release is based on D9's 2025 Interim Report. The Interim Report has been
submitted to the National Storage Mechanism and will shortly be available for
inspection at:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) and can also be found
on the Company's website https://www.d9infrastructure.com
(https://www.d9infrastructure.com) .

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IR SEEEEIEISEEU