Half Year Results
July 2022
For Professional Investors Only
H1 2022 Highlights
Strong cash generation | £328.8m |
Net cash generation | |
Power generation 1% above budget | 2,175GWh | ||
Power generation | |||
High power prices | £176.05/MWh | ||
Average day ahead power price, N2EX | |||
Dividend in line with full year target and dividend cover of 3.8x | £89.5m / 3.86p per share | ||
Dividends declared with respect to the period | |||
£49.6m investment made in the Twentyshilling (37.8MW) | 1,460MW | ||
Generating capacity | |||
Agreed to acquire a net 12.5% of Hornsea 1 with completion expected in Q3 2022 | 150MW / £400m equity + £700m debt | ||
Generating capacity increase in Q3 | |||
Further £18.2m invested into Kype Muir Extension with commissioning expected in Q4 2022 | 34MW | ||
Generating capacity increase in Q4 | |||
£900m total debt (all fixed rate term debt) with £600m RCF undrawn | 20% | ||
Gearing (percentage of GAV) | |||
NAV increased by 20.1p | £3,559.7m / 153.6p per share | ||
Net Asset Value | |||
Market capitalisation | £3.6bn | ||
Market capitalisation |
Continued delivery of simple, low risk and proven strategy
2
Note: all numbers to or at 30 June 2022
Simple Model
Equity | Total |
Debt | reinvestment |
£511m
6-44(1) wind | Generating capacity increased |
farms | from 127 to 1,460MW(1) since IPO |
16.6TWh | Total power produced |
£1,207m | Total cash generated |
£696m Total dividends paid or declared
"6p dividend, increasing with RPI inflation and real NAV preservation''
Note: (1) from IPO to 30 June 2022 | 3 |
Operational and Financial Performance
Financial Performance
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Greencoat UK Wind plc published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2022 06:17:04 UTC.