Ecofin Global Utilities and Infrastructure Trust Plc · LSE:EGL
Ecofin Global Utilities and Infrastructure Trust — Shareholder Meeting (March 2023)
20 slides from Ecofin Global Utilities and Infrastructure Trust's shareholder meeting presentation, Mar 17, 2023
Slide 1: Ecofin Global Utilities and Infrastructure Trust plc AGM
Ecofin Global Utilities and Infrastructure Trust plc AGM, 17 March 2023 © 2021 Ecofin
Slide 2: EGL's portfolio manager
EGL’s portfolio manager Jean-Hugues de Lamaze Managing Director and Portfolio Manager Portfolio Manager, Ecofin Global Utilities and Infrastructure Trust plc and the Ecofin Sustainable Listed Infrastructure UCITS Fund. Joined Ecofin as Portfolio Manager in 2008. 33 years of experience in equities an
Slide 3: NAV and share price performance (total returns)
NAV and share price performance (total returns) Financial years (%) From inception to 28 February 2023 (% p.a.) 16 18 14.0 16 15.5 14 12.5 14 12 12 10.8 10 10 8 8 6 6 4 4 2.3 2 2 0.6 0 0 F2022 F2023 to date* Since Admission in Sept 2016 EGL NAV EGL Share price EGL NAV EGL Share price EGL is growing:
Slide 4: Performance (to 28 February 2023)
Performance (to 28 February 2023) Since Since (all total returns in £) 1M% 3M% 6M% 1Y% 3Y% 5Y% Admission* Admission* % % per annum EGL NAV -2.9 -4.0 -6.6 6.4 35.4 95.4 93.5 10.8 EGL Share Price 0.2 3.5 -6.5 16.5 53.2 137.6 152.5 15.5 S&P Global Infrastructure -1.8 -2.5 -4.8 9.8 19.8 41.8 42.5 5.7 In
Slide 5: Strategy overview
Strategy overview An alternative income strategy featuring capital preservation and exposure to global growth Global Income Growth Diversified across geographies, Growth-oriented infrastructure Invested in securities with attractive sub-sectors and investment themes yields and inflation protection b
Slide 6: Characteristics of the investment universe
Characteristics of the investment universe Economic infrastructure offers unique characteristics that make it an attractive asset class for investors Essential assets Defensive profile Low volatility High barriers to entry Limited competition Secure earnings Asset-backed services Inflation indexing
Slide 7: The opportunity: de-risking of business models
The opportunity: de-risking of business models Evolving business mixes drive value creation in the long run Utilities are rapidly adapting business models to a world which increasingly prioritises decarbonisation… EBITDA split by activity for European Utilities 12% 13% 11% 21% 22% 7% 12% 10% • C. 80
Slide 8: The opportunity: enhanced returns & de-risking
The opportunity: enhanced returns & de-risking Evolving business mixes drive value creation in the long run …with shifts in capital allocation offering opportunities to unlock significant value. Re-rating from deeply discounted valuations through transformational reorganisations of asset portfolios
Slide 9: The opportunity: inflation hedge
The opportunity: inflation hedge Infrastructure as a source of inflation protection As owners of essential assets, listed infrastructure companies provide a uniquely attractive risk profile in times of rising inflation, often combining inflation indexing with strong pricing power and cyclical exposu
Slide 10: The valuation gap
The valuation gap Listed infrastructure valuations relative to broad Listeds vs. Privates: The case for listed infrastructure averages are in line with long term averages Listed infrastructure also offers a valuation buffer as it continues to trade at a deep discount to private infrastructure, despi
Slide 11: Governments joining forces to foster renewables growth
Governments are joining forces to foster renewables growth, while context of high energy prices pushes for additional regulation in EU IRA represents unprecedented US commitment on Scenarios of price stabilization and regulation climate, aiming to reduce carbon emissions by more from European govern
Slide 12: Portfolio characteristics (28 February 2023)
Portfolio characteristics (28 February 2023) By geography (% of portfolio) 10 Largest holdings Country % of portfolio NextEra Energy US 6.4 5% 4% SSE UK 4.3 12% North America 41% RWE Germany 4.0 Europe Enel Italy 3.9 UK ENAV Italy 3.4 Emerging Markets National Grid UK 3.3 Other OECD EDP Portugal 3.3
Slide 13: Summary
Summary • Ecofin has a long and successful track record of investing in global sustainable listed infrastructure. • We seek to identify superior risk/reward opportunities as specialists, with a unique focus on identifying utilities in transition. • We approach our investments with a total return min
Slide 14: Appendices
ecofin Appendices 14
Slide 15: Key performance indicators
Key performance indicators As at or year to As at or year to As at or year to As at or year to As at or year to KPIs 30 September 30 September 30 September 30 September 30 September 2022 2021 2020 2019 2018 Change in: NAV1 12.5% 22.9% -2.6% 27.4% 4.8% Share price1 14.0% 28.9% 5.6% 32.3% 1.1% Premium
Slide 16: Carbon performance
Carbon performance Emissions performance of EGL’s portfolio (by Ecofin Advisors Limited with CarbonAnalytics) • Electricity generators in EGL’s portfolio generally have CO2 emissions which are significantly below the average emissions of their relevant electricity grid and the companies sitting in t
Slide 17: Investment team
Investment team STRATEGY INVESTMENTTEAM RISK Jean-Hugues de Lamaze Mathieu Pidoux Gilles Schlutig, CFA Managing Director, Senior Portfolio Manager Investment Analyst Head of risk – Listed Ecofin 31 years experience 4 years of investment experience strategies Joined Ecofin 2008 Joined Ecofin 2022 18
Slide 18: Contact details
Contact details Ecofin Advisors Limited Burdett House 15 Buckingham Street London WC2N 6DU United Kingdom Tel: +44 20 7451 2929 Elspeth Dick, CFA Michael Hart Investor Relations Marketing +44 20 7451 2921 +44 20 7451 3023 edick@ecofininvest.com mhart@ecofininvest.com 18
Slide 19: Disclaimer
Disclaimer This document is being issued in relation to Ecofin Global Utilities and Infrastructure Trust plc (“Ecofin Global”) by Ecofin Advisors Limited (the “Investment Manager”) which is authorised and regulated by the Financial Conduct Authority. This document does not constitute or form part of
Slide 20: www.ecofininvest.com
www.ecofininvest.com
Ecofin Global Utilities and Infrastructure Trust — Shareholder Meeting (March 2023) on 6ix