Foresight Environmental Infrastructure (FGEN) H2 2026 earnings summary

Executive summary

• Delivered a 6.2% NAV total return for the year ended 31 March 2026, with resilient cash generation and a progressive dividend policy.

• Maintained a diversified portfolio across renewable energy, other energy infrastructure, and sustainable resource management, with 71% in renewables.

• Strategic focus on organic NAV growth, disciplined capital allocation, and low gearing, supporting both income and capital growth.

Financial highlights

• Net assets at £655.5m (down from £678.7m YoY); portfolio value at £759.1m.

• NAV per share at 105.2p; dividend cover at 1.25x; gearing at 28.8%.

• Profit before tax of £37.2m (vs. £-2.8m prior year); adjusted EPS up to 9.4p from 8.3p.

• Cash receipts of £78.6m, 2.9% below budget, but 2.3% ahead including expected recoveries.

Outlook and guidance

• FY27 dividend target increased to 8.04p (+1.0%).

• Aims to deliver 8-10% NAV total return p.a. over the long term.

• Focus on maintaining high-performing operations, selective reinvestment, and opportunistic divestments.