Sequoia Economic Infrastructure Income Fund Limited Ptg.Shs GBP · LSE:SEQI
Sequoia Economic Infrastructure Income Fund Limited Ptg.Shs GBP — Sequoia Economic Infrastructure Income Fund — H1 FY2025 Earnings Presentation
12 slides from Sequoia Economic Infrastructure Income Fund Limited Ptg.Shs GBP's earnings presentation, Dec 5, 2024
Slide 1: Interim results for six months to 30 September 2024
Sequoia Economic Infrastructure Income Fund Interim results for six months to 30 September 2024 5 December 2024
Slide 2: Table of contents
Table of contents Introduction to interim results 2 SEQI portfolio at a glance 3 Highlights of interim results 4 NAV bridge 5 SEQI share price and NAV total return 6 Investment case studies 7 Closing remarks 9 1
Slide 3: Introduction: Interim Results for 6 months to 30 September 2024
Introduction: Interim Results for 6 months to 30 September 2024 • Resilient portfolio generating substantial cash during the period o NAV per share growth of 1.3% to 95.03p (FY24: 93.77p), driven in part by the strong interest income of the portfolio (94.37p at 31 October 2024) o Dividends: 3.4375p
Slide 4: SEQI portfolio at a glance
SEQI portfolio at a glance (1) A diversified portfolio of private loans backed by infrastructure projects generating sustainable income Portfolio characteristics Portfolio categorisations Region UK, 29% North America, 47% Europe, 24% Number of investments 56 Largest / average size (£m) 61.7/ 21.4 Ra
Slide 5: Highlights of interim results for 1H FY2025
Highlights of interim results for 1H FY2025 (six months to 30 September 2024) 31 March 2024 30 September 2024 Annualised portfolio yield-to- 10.02% 9.94% maturity Total net assets £1.52bn £1.50bn Net asset value (“NAV”) per Ordinary 93.77p 95.03p Share Ordinary Share price 81.1p 80.2p Ordinary Share
Slide 6: NAV bridge for six months to 30 September 2024
NAV bridge for six months to 30 September 2024 100 +5.39 99 +0.47 98.46 p - 98 (0.80 ) (0.02 ) (0.05 ) (0.30 ) 97 96 Pence per share 95.03 p 95 - (3.44 ) 94 93.77 p 93 92 91 90 Opening NAV Interest income Expenses Portfolio Marking FX movements, Buybacks Gross closing Dividends Closing NAV valuation
Slide 7: Outperforming benchmark since IPO
Outperforming benchmark since IPO Relative performance (cumulative total return since fund inception) (1) 185 Share price total return of 43% 175 SEQI NAV SEQI NAV total return of 71% total return 165 SEQI share price (2) GBP-hedged HY Bonds total return of 33% total return (3) 155 SEQI’s average an
Slide 8: Case study – new loan / Project Crystal, Europe
Case study – new loan / Project Crystal, Europe High quality business providing critical medical services in Germany • Leading provider of diagnostic imaging and radiotherapy services (including MRI, mammography screening, nuclear medicine, and radiotherapy)delivered via numerous operating clinics i
Slide 9: Case study – loan recovery / Bulb, UK
Case study – loan recovery / Bulb, UK • Background: SEQI provided a £55 million senior secured loan to Bulb Energy Ltd, secured on the assets of Bulb and its parent, Simple Energy Ltd. In November 2021, Bulb entered the Special Administration Regime (SAR) due to liquidity challenges caused by rapidl
Slide 10: Closing remarks
Closing remarks SEQI: well-positioned to reap rewards from attractive diversified investments and experienced portfolio management through the cycle Agility Performance Opportunity o Balanced capital allocation across o Attractive, consistent cash-covered o Prospect for interest rate falls buybacks
Slide 11: Important information
Important information THE CONTENTS OF THIS DOCUMENT AND THE PRESENTATION ARE STRICTLY CONFIDENTIAL AND MAY NOT BE COPIED, DISTRIBUTED, PUBLISHED OR REPRODUCED IN WHOLE OR IN PART, OR DISCLOSED OR DISTRIBUTED BY RECIPIENTS TO ANY OTHER PERSON. ANY RECIPIENT OF THIS DOCUMENT AND THE PRESENTATION AGREE
Slide 12: Important information (continued)
Important information Continued THE COMPANY HAS NOT BEEN, AND HAS NO INTENTION TO BE, REGISTERED UNDER THE U.S. INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE "INVESTMENT COMPANY ACT") AND INVESTORS WILL NOT BE ENTITLED TO THE BENEFITS OF THAT ACT. THE SECURITIES DESCRIBED IN THIS DOCUMENT AND THE
Sequoia Economic Infrastructure Income Fund — H1 FY2025 Earnings Presentation on 6ix