Annual financial statement
Page 1
24 June 2021 SDCL Energy Efficiency Income Trust plc ( " SEEIT " or the " Company " ) Announcement of Financial Results for The Year Ended 31 March 2021 . SDCL Energy Efficiency Income Trust plc ( LSE : SEIT ) ( " SEEIT " or the " Company " ) announces financial results for the year ended 31 March 2021 . Highlights ¸ [ 1 ] Net Asset Value ( " NAV " ) " per share of 102.5p as at 31 March 2021 , up from 101.0p as at 31 March 2020 and a total NAV return for the period of 8.0 % Earnings per share of 7.0p for year to 31 March 2021 ( March 2020 : 5.2p ) Profit Before Tax of £ 32.4 million for year to 31 March 2021 , up from £ 11.6 million for the prior year to 31 March 2020 Aggregate dividends of 5.5p per share declared relating to the year ended 31 March 2021 , in line with target Target dividend [ 2 ] of 5.62p per share for year to March 2022 , a 2.2 % increase from 31 March 2021 Portfolio Valuation of £ 553 million at 31 March 2021 , up 73 % from £ 320 million at 31 March 2020 Investment at fair value on balance sheet of £ 573 million at 31 March 2021 , up from £ 254 million 31 March 2020 Market Capitalisation of £ 758 million at 31 March 2021 , up from £ 296 million at 31 March 2020 and a total shareholder return of 30.0 % since IPO to 22 June 2021 Investment of approximately £ 255 million made in 7 investments during the year Cash of £ 126 million at 31 March 2021 available for investments and the fourth interim dividend payable in June 2021 Capital raised of £ 375 million during the financial year from three well - supported equity issues , with proceeds deployed into investments from the Company's pipeline Carbon Savings of 654,205 tCO2 ( 2020 : 156,000 [ 3 ] tCO2 ) from Company's portfolio , which also produced 895,212 MWh of electricity ( 2020 : 113,000³ MWh ) Post Year End Highlights $ 177 million acquisition of RED - Rochester , LLC , a commercial district energy system in the United States Tony Roper , Chairman of SEEIT , said : " Twelve months ago , no - one could have foreseen the effect that the COVID - 19 pandemic would have on the world , its human impact and the repercussions for the global economy . Despite this and other challenges that it brought about , the performance of the Company's underlying investment portfolio of energy efficiency infrastructure assets remained resilient , achieving growth in NAV and enabling us to achieve our dividend targets . Capital raised in the year has been successfully committed through a number of substantial investments , further diversifying its portfolio . We are very grateful for the continued support from new and existing investors . " Jonathan Maxwell , CEO of SDCL , the Investment Manager said : " We will continue to seek to build a diversified portfolio for the Company and , particularly , to further diversify in terms of technologies that are compatible with a pathway towards decarbonisation . The sectors in which SEEIT is investing are receiving increasing levels of interest . Governments and companies are continually