Digital 9 Infrastructure Plc · LSE:DGI9
Digital 9 Infrastructure — FY2024 Earnings Presentation
16 slides from Digital 9 Infrastructure's earnings presentation, May 7, 2025
Slide 1: Digital 9 Infrastructure PLC Annual Results Presentation
Digital 9 Infrastructure PLC Annual Results Presentation 7 May 2025
Slide 2: Fund Update
Fund Update d9infrastructure.com | 2
Slide 3: Key highlights
Key highlights New Board and Manager: Orderly wind-down process: Refinanced RCF: Board fully restructured before InfraRed’s Realisation plan accelerated since October, Banking relationships stabilised and facility appointment as AIFM in October two divestments agreed successfully refinanced Focussed
Slide 4: Realisation plan update
Realisation plan update Divestment of Aqua Comms and EMIC-1 Next steps for remaining assets Priority sale being progressed; expectation of value EMIC-1 realisation in the near term; deferred rent paid EMIC-1 project indefinitely delayed due to conflicts in the Middle East Divestment announced in
Slide 5: Progress on deleveraging
Progress on deleveraging Significant RCF refinancing progress made throughout the year, residual £53m balance expected to be paid by the facility expiry RCF repayment progress RCF refinancing and next steps Verne proceeds £m InfraRed restabilised relationship with the lending banks 400 375 Succe
Slide 6: Financial Review
Financial Review d9infrastructure.com | 6
Slide 7: Financial overview as at December 2024
Financial overview as at 31 December 2024 Net Asset NAV Total Value per share Portfolio Value £297m 34.4p £331m 30 June 2024: £403m 30 June 2024: 46.6p 30 June 2024: £424m 31 December 2023: £686m 31 December 2023: 79.3p 31 December 2023: £1.0bn Signed & Completed Market Loss per Divestments² Capital
Slide 8: Components of the reduction in NAV
Components of the reduction in NAV NAV reduction over 12 months to 31 December 2024 driven by changes in the valuation of Arqiva, Aqua Comms and other assets £p/share 90 79.3 0.6 80 (1.2) 70 (9.6) 60 50 (21.7) 40 (8.4) 34.4 (2.9) (1.6) 30 20 10 NAV 1 Jan 24 Income Plc costs Arqiva FV mvt Aqua Comms/
Slide 9: Portfolio Review
Portfolio Review d9infrastructure.com | 9
Slide 10: Portfolio performance: Elio Networks
Portfolio performance: Elio Networks Providing reliable internet to Dublin’s underserved high-end business broadband market Business update Financial highlights Financial Period 2024 2023 Revenue of £8m in the 12 months ending 31 December 2024, driven by growth in its high-quality wireless connect
Slide 11: Portfolio performance: Arqiva
Portfolio performance: Arqiva The UK’s national provider of TV and radio broadcast infrastructure. Critical infrastructure network providing end-to-end connectivity solutions in media and utilities Business update Financial highlights £215m valuation for the Company’s share of Arqiva net of the
Slide 12: Portfolio performance: Arqiva valuation scenario analysis
Portfolio performance: Arqiva valuation scenario analysis The valuation of D9’s interest in Arqiva is highly sensitive to the underlying policy outcome on the future of DTT platforms and the resultant impact on contract renewals for the future of UK DTT, in addition to leverage at the corporate leve
Slide 13: Portfolio performance: Arqiva valuation scenario analysis (cont'd)
Portfolio performance: Arqiva valuation scenario analysis (cont’d) The base case valuation assumes successful contract renewals based on our view of reasonably likely policy outcome to deliver an efficient but full DTT transmission service Arqiva valuation scenario analysis Illustrative gross equity
Slide 14: Concluding Remarks and Q&A
Concluding Remarks and Q&A d9infrastructure.com | 14
Slide 15: Concluding remarks
Concluding remarks InfraRed has accelerated the Company’s new managed wind-down process, with the announced divestments of EMIC-1 and Aqua Comms despite a challenging market backdrop 2025 2026 2027 2028 Ongoing value-add initiatives in Arqiva and Elio Networks ahead of exit Dec 2024/Jan 2025: H1 202
Slide 16: Disclaimer
Disclaimer For Investment Professionals (as defined under FSMA 2000). Individuals without professional experience in matters relating to investments should not rely on this information By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bo
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