Solar asset bank makes marginal profit loss but holds debt

+ADw-p+AD4-Solar+AKA-investment and asset manager, NextEnergy, has posted a slight loss for the financial year but holds debt at an equal level to the previous year..+ADw-/p+AD4
+ADw-p+AD4-NextEnergy+IBk-s profit dipped from +AKM-49,829 in 2016/2017 to +AKM-32,160 over the 2017/2018 financial period.+ADw-/p+AD4
+ADw-p+AD4-However, the company managed to keep its debt at +AKM-270 million from the previous financial period.+ADw-/p+AD4
+ADw-p+AD4-The company also saw another growth in renewables energy assets from 41 in 2017 to 63 in 2018 and an increase in invested capital of +AKM-734m, up +AKM-212m on the previous year.+ADw-/p+AD4
+ADw-p class+AD0AIg-sv+ACIAPgA8-span class+AD0AIg-sb+ACIAPg-Kevin Lyon, chairman of NESF, said+ADw-/span+AD4gHA-The Board is pleased to present the Company+IBk-s full-year results. It has been a year of significant progress, in terms of investment, operating and financial results recorded.+ADw-/p+AD4
+ADw-p class+AD0AIg-sq+ACIAPiAc-Our diligent investment approach has resulted in the acquisition of a further 23 high-quality operating assets, including a very attractive portfolio in Italy. We have again achieved a positive Asset Management Alpha, with actual generation above budget, despite a slightly lower irradiation across the entire portfolio.+AKA Our dividend continued to be comfortably covered, even as power prices declined over the year.+ADw-/p+AD4
+ADw-p class+AD0AIg-sq+ACIAPiAc-Following the year end, we announced our first acquisition of operating assets with integrated energy storage, and expect to develop this opportunity across the broader portfolio over time.+ADw-/p+AD4
+ADw-p class+AD0AIg-sq+ACIAPiAc-Looking forward, the outlook for the Company remains strong.+AKA We will continue our selective acquisition-led growth, continue to focus on achieving Asset Management Alpha outperformance and pursue further improvements in our cost base and financing structure.+IB0APA-/p+AD4

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