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VH Global Energy Infrastructure PLC on Thursday reported a swing to profit in the first half of 2025 and reaffirmed its commitment to maximising shareholder value through the implementation of its asset realisation strategy. The London-listed renewable energy investment trust said pretax profit totalled £2.4 million in the six months to June 30, compared with a loss of £16.1 million a year earlier. The turnaround was largely driven by investment income of £15.4 million, partially offset by a £10.0 million loss on investments. Net asset value per share fell 2.2% to 100.90 pence from 103.21p at December 31, 2024, with the company citing unfavourable exchange rate movements due to the strengthening of GBP against USD and AUD. Total NAV stood at £399.4 million, down from £408.5 million. Despite a ‘persistent discount to NAV,’ VH Global said it remains focused on enhancing the value of its portfolio, with 84% of assets now operational and five new projects energised so far this year. These include three solar sites in Brazil, a carbon capture and baseload power project in the UK, and a solar-plus-storage facility in Australia. The company declared dividends of 2.90p per share for the half, up 2.1% from 2.84p a year before. The board reaffirmed its intention to continue quarterly dividends, with payout levels depending on the income generated from the remaining portfolio under the new strategy. Shareholders voted in August to approve the company’s proposed asset realisation plan, under which investment manager Victory Hill Capital Partners LLP will sell off the portfolio in a timely manner over the next three years to maximise value and return capital. VH Global said that during the period, a €29.7 million project finance loan was signed for two solar sites in Europe, while its US terminal storage assets outperformed expectations despite headwinds from fuel tariffs. The US loan facility was upsized to $30 million from $16 million in January. On the sustainability front, the company said its assets generated 461,302 megawatt hours of clean energy in the half, enough to power around 170,853 UK homes and displace 145,303 tonnes of carbon dioxide equivalent. ‘The board believes the proposed asset realisation strategy is in the best interests of shareholders as a whole,’ said Chair Bernard Bulkin. ‘We remain committed to a regular dialogue and transparent communication as the realisation strategy progresses.’ Shares in VH Global Energy Infrastructure fell 1.9% to 70.23 pence in London on Thursday afternoon. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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