Foresight Environmental Infrastructure Delivers Solid Interim Performance Amidst Sector Challenges

Foresight Environmental Infrastructure Limited (FGEN) has announced its half-year results for the six months ended September 30, 2025, showcasing resilience in a challenging market environment.

The company, a prominent investor in private environmental infrastructure assets across the UK and Europe, reported a period of steady progress, maintaining its trajectory towards meeting its full-year dividend target.

Headline Numbers:

• NAV per share: 104.7 pence, a positive NAV total return of 2.0% after dividends.
• Dividend target: On track to deliver 7.96 pence for the full year, a 12% yield on the current share price.
• Dividend cover: Assets generated a dividend cover of 1.22x during the period, after project-level debt amortization.

FGEN's NAV per share stood at 104.7 pence as of September 30, 2025, compared to 106.5 pence at the end of March 2025. This reflects a positive NAV total return of 2.0% for the period, after accounting for dividend payments. Since its IPO, FGEN has delivered an annualized NAV total return of 7.2%, demonstrating sustained value creation.

A key highlight is FGEN's commitment to meeting its full-year dividend target of 7.96 pence per share. This represents a compelling yield of 12% based on the current share price, offering an attractive income stream for investors. The company's strong operational performance, with assets generating a dividend cover of 1.22x, provides a solid foundation for achieving this target.

Driver Breakdown:

• Operational Strength: Assets continue to perform strongly, exceeding generation budgets by 0.5%, particularly within the anaerobic digestion facilities.
• Growth Asset Uplift: CNG Fuels sees growth in truck numbers and maintains profitability, while Rjukan aquaculture is now fully operational, having completed its first trout harvest. The Glasshouse continues to onboard new customers with cash flow breakeven expected later in the year.
• Proactive Management: Disciplined follow-on investments unlock further value, contributing to sustainable income and NAV growth without reliance on new fundraising.

Ed Warner, Chair of FGEN, stated, “FGEN has delivered another period of solid progress despite persistent sector headwinds… We remain on track to meet our full-year dividend target, supported by proactive portfolio management and disciplined follow-on investments that unlock further value.” Warner's statement reinforces the company’s commitment to sustainable income and NAV growth.