Digital 9 Infrastructure (DGI9) H1 2026 earnings summary

Executive summary

• Initiated Managed Wind-Down, targeting orderly asset realisation and capital return to shareholders.

• First compulsory redemption returned £30m (3.5p/share) to shareholders, reducing shares by 37.38%.

• Portfolio now consists of Arqiva and Elio Networks; major disposals and debt repayments completed in 2025.

• Received £10m from Verne Global earn-out and £0.4m Aqua Comms completion adjustment.

Financial highlights

• NAV per share at 30 June 2026: 8.6p (down from 9.3p at 31 Dec 2025).

• Net assets: £46.8m (down from £80.2m at 31 Dec 2025).

• Net loss for the period: £3.4m, driven by management fees, operating costs, and £1.6m net reduction in investment fair value.

• EPS for H1 2026: (0.5p) vs (1.7p) in H1 2025.

• Cash at 30 June 2026: £44k (Company), £12.1m (Group).

Outlook and guidance

• Further capital returns planned as assets are realised, with wind-down targeted for 2028-29.

• Value realisation for Arqiva depends on UK broadcasting policy clarity, debt refinancing, and contract renewals.

• Elio Networks focused on buy-and-build strategy and eventual exit.