Edison Investment Research - SDCL Energy Efficiency Income Trust (SEIT) SDCL Energy Efficiency Income Trust - Answering five key investor questions

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Edison Investment Research

Pedro Fonseca

SDCL Energy Efficiency Income Trust - Answering five key investor questions

In this note we examine five key questions investors have raised regarding SDCL Energy Efficiency Income Trust (SEEIT), prior to the release of its full-year results (for the year ended March 2024) at the end of June 2024 and provide our answers and analysis. The questions focus on dividend security, discount to NAV, management’s strategies for closing the discount, asset valuations and where SEEIT differs to its peers. SEEIT is an investment trust focused on delivering energy and energy efficiency as a decentralised service directly to end users, rather than supplying into the broader power grid. Its income comes from a range of services and is driven by cutting losses in energy generation, transmission and use. SEEIT offers an attractive dividend yield (9.15%) and upside from narrowing of the discount (c 26% or c 35% upside if closed).

10/06/2024 1 EN

Underlying

SDCL Energy Efficiency Income Trust

SDCL Energy Efficiency Income Trust PLC. SDCL Energy Efficiency Income Trust PLC is a United Kingdom-based closed-ended investment company. The Company is focused on providing investment solutions for energy sectors for the betterment of environment and infrastructure. Its investment business is primarily focused on clean energy and energy efficiency project finance. The Company also provides its services and solutions for healthcare, manufacturing, transportation and retail sectors.

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GB00BGHVZM47 London Stock Exchange United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Pedro Fonseca

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SDCL Energy Efficiency Income Trust - Answering five key investor questions

Edison issues report on SDCL Energy Efficiency Income Trust (SEIT)

SDCL Energy Efficiency Income Trust - Robust performance in H125

Edison issues report on SDCL Energy Efficiency Income Trust (SEIT)

OPAP - Winning strategy

Patria Private Equity Trust - High liquidity and solid long-term track record

MoneyHero - Emphasis on driving margin

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