ReElement Technologies stock soars after securing $1.4B government deal
Investing.com -- Foresight Solar Fund Limited announced a 9.7% year-over-year increase in operational EBITDA to £66.5 million for the first half of 2025, driven by improved generation across its portfolio.
The company reported total revenue of £80.4 million, representing a 7.9% increase compared to the same period last year.
Foresight confirmed its full-year 2025 dividend guidance with an expected cover of 1.3 times, down slightly from 1.4 times in fiscal year 2024, with stronger performance anticipated in the second half due to seasonal factors.
Generation across the portfolio was 4.0% above budget during the first half, a significant improvement from the 6.6% below-budget performance in the first half of 2024.
Global solar irradiation was 8.5% above budget, though actual generation was negatively affected by DNO outages in Great Britain and performance issues in Spain.
By region, UK generation exceeded budget by 8.9%, while Spanish operations underperformed by 14% below budget. Australian assets performed in line with budget expectations.
The company’s strategic review continues, with a two-stage divestment process ongoing for its Australian assets and an additional 75MW of operational solar projects.
While Foresight has received indicative offers for its Australian assets, which represent approximately 8% of NAV, the previously targeted third-quarter 2025 disposal timeline is expected to be delayed.
Net asset value declined by 3.4% during the first half, with key movements including lower power price forecasts (-3.3p per share) and dividend payments (-4.0p per share), partially offset by positive portfolio unwinding contribution of 4.3p per share.
The company’s share buyback program added 0.5p per share during the period.
Foresight reported gearing at 40% of gross asset value, slightly up from 39% at the end of fiscal year 2024. Total debt stood at £401.8 million, with £75.9 million drawn from its £150 million revolving credit facility.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.