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Octopus Renewables Infrastructure Trust (ORIT) investor relations material

Octopus Renewables Infrastructure Trust H1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2025 earnings summary24 Sep, 2025

Executive summary

  • Portfolio consists of 40 investments across five countries and five technologies, totaling 797 MW and nearly 800 MW generating capacity, emphasizing diversification and growth through construction and developer backing.

  • Net Asset Value (NAV) stood at £540 million as of 30 June 2025, down from £570 million at year-end 2024, with NAV per share at 99.5p.

  • Delivered a 12.9% total shareholder return in H1 2025, with an 8.4% dividend yield and dividend cover at 1.19x.

  • Launched the ORIT 2030 strategy, targeting NAV growth to £1 billion by 2030, double-digit (9–11%) total returns, and increased focus on construction and developer opportunities.

  • The portfolio generated 654 GWh of clean energy in H1 2025, powering an estimated 158,000 homes.

Financial highlights

  • NAV at period end was £540 million (£0.995 per share), with a -0.2% NAV total return for H1 2025; NAV total return since IPO is £31.7 million.

  • Revenue for H1 2025 was £68.7 million and EBITDA £44.3 million, both broadly flat year-over-year and below budget.

  • Dividend yield at period end was 8.4%, with an interim dividend of 3.08p per share and cover at 1.19x (1.81x excluding debt amortization).

  • Gross Asset Value (GAV) was £1,010 million, with total leverage at 47% of GAV.

  • Net loss for the period was £1.1 million, compared to an £11.3 million profit in H1 2024, due to a net decrease in fair value of assets.

Outlook and guidance

  • Confident in meeting the 2025 full-year dividend target of 6.17p per share, maintaining full cover.

  • ORIT 2030 strategy aims for 9–11% total return, scaling to £1 billion NAV by 2030, with a progressive, fully covered dividend and increased focus on construction and development assets.

  • Gearing targeted to fall below 40% of gross asset value by year-end, with at least £80 million in asset sales underway.

  • Focus on disciplined capital deployment, capital recycling, and selective reinvestment.

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H2 202526 Mar, 2026
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Frequently asked questions

Octopus Renewables Infrastructure Trust plc is a closed end investment company that focuses on building and operating a diversified portfolio of renewable energy assets. The firm also provides investment services, including acting as an issuer or manager of securities, providing financial advice, structuring transactions in relation to renewable energy and other infrastructure related investments, and making acquisitions for the purpose of acquiring renewable energy installations. The company was incorporated in 2019 and is based in London, the United Kingdom.

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