RCS - HydrogenOne Cap Gwth - Update from QuotedData

Hydrogenone Capital GrowthAnnouncement

23/04/2024 12:01

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240423:nRSW7112La&default-theme=true

RNS Number : 7112L  HydrogenOne Capital Growth PLC  23 April 2024

 

HydrogenOne Capital Growth - Update from QuotedData

23(rd) April 2024

Momentum building despite discount

While the share price performance of HydrogenOne Capital Growth (HGEN) remains
frustrating, investors should be buoyed by the ongoing growth of the portfolio
and the accelerating development of the green hydrogen sector.

Despite challenging macro-economic conditions (including stubborn inflation
and still elevated interest rates), HGEN's net asset value (NAV) grew 5.8%
over 2023, while the portfolio generated aggregate revenue growth of 125%.
This momentum reflects the rapidly accelerating demand for green hydrogen
products and services, with many of HGEN's companies investing heavily to
increase productive capacity to cope with growing backlogs. Industry dynamics
also remain supportive as investment flows into the sector while government
funding programmes provide further support.

Given the growing confidence of those within the sector and the ongoing
fundamental performance of its companies, it is difficult to see how such a
wide discount to NAV has opened up. We believe this is more a symptom of
negative market sentiment, and as economic conditions steadily improve it is
possible that we will see a significant re-rating of HGEN's shares.

Full Research:

https://quoteddata.com/research/hydrogenone-capital-growth-momentum-building-discount-qd/
(https://quoteddata.com/research/hydrogenone-capital-growth-momentum-building-discount-qd/)

This research is also available free on our website www.quoteddata.com
(http://www.quoteddata.com) where you will also find news, performance data
and factsheets on every London listed Investment Company. QuotedData writes
and distributes research on a number of quoted companies, facilitates meetings
between those companies and existing and potential investors and assists in
raising additional capital where required.

NB: Marten & Co was paid to produce this note on HydrogenOne Capital
Growth, and it is for information purposes only. It is not intended to
encourage the reader to deal in the security or securities mentioned in this
report. Please read the important information at the back of this note.
QuotedData is a trading name of Marten & Co Limited which is authorised
and regulated by the Financial Conduct Authority. Marten & Co is not
permitted to provide investment advice to individual investors categorised as
Retail Clients under the rules of the Financial Conduct Authority.

QUOTEDDATA

50 Gresham Street | London EC2V 7AY

Tel: +44 (0) 20 3691 9430

www.quoteddata.com (http://www.quoteddata.com) | research@quoteddata.com
(mailto:research@quoteddata.com) | www.martenandco.com
(http://www.martenandco.com)

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. 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  NRAQKNBPKBKDDQB