UK's Gresham House Energy H1 NAV per share rises
UK's Gresham House Energy H1 NAV per share rises
Overview
UK battery storage fund's half-year NAV per share rose 15.8% to 131.30p
Portfolio revenues up 9.5% and EBITDA up 14.5% from H1 2025
Revenue per operational MW fell due to weaker merchant environment and asset downtime for upgrades
Outlook
Company targets £141 mln annualised EBITDA once new projects and Alternative Revenue strategy are operational
Company expects Alternative Revenues capacity to reach at least 20MW by end-2026
Company maintains target of £25 mln incremental annual EBITDA from Alternative Revenues strategy
Result Drivers
PROJECT REVALUATION - NAV per share increase was mainly driven by revaluation of 397MW of projects now under construction on a discounted cash flow basis
OPERATIONAL CAPACITY - Revenue growth was primarily driven by increased operational MW capacity, despite some assets being offline for augmentation works
CONTRACTED REVENUES - Proportion of contracted revenues increased to 61%, reducing portfolio risk
Company press release: ID:nRSB9890Sa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Net Asset Value Per Share |
| GBP 1.31 |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the uk investment trusts peer group is "buy"
Wall Street's median 12-month price target for Gresham House Energy Storage Fund PLC is GBp85.00, about 13.4% below its September 1 closing price of GBp98.10
The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 31 three months ago
Reuters Recommended Reads
Sept 1 - UK finance minister to set out 'clear path' to higher defence spending in spring
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)