11th Jan 2023 10:07
(Alliance News) - Digital 9 Infrastructure PLC on Wednesday said its portfolio had performed strongly in the year ended September 30.
The London-based investor in digital infrastructure reported consolidated investee company revenue of about GBP418 million, up marginally from GBP415 million a year ago.
Consolidated investee company earnings before interest, taxes, depreciation, and amortisation was up 5.2% to around GBP221 million, from GBP210 million a year ago and 10% above market expectations.
Consolidated investee company operating cash flow was down 40% at about GBP55 million, from GBP92 million a year ago.
Digital 9 added that pro-forma adjusted gross asset value was GBP1.3 billion at September 30, the company said its net asset value at December 31 will be published in its annual report in March.
Digital 9 noted an increase in customer demand for the services of its investee companies, adding that there is a "compelling opportunity for capital growth". To pursue this growth, the company said it has identified an increased growth capital expenditure of about GBP246 million for the year ended December 31, with an additional GBP639 million for the subsequent four years to 2027.
The company added it is "evaluating complementary sources of growth capital to support the significantly increased growth capital expenditure pipeline."
Chair Phil Jordan said: "The business performance and our latest forecasts demonstrate the strength of our portfolio's revenues and profitability.
"Through our active asset management approach, we expect these investments to deliver both income and capital growth which will underpin our 10% total return target and 6 pence per share dividend per annum target."
Digital 9 shares were up 1.6% at 90.03 pence each on Wednesday morning in London.
By Harvey Dorset, Alliance News reporter
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