SDCL Efficiency Income Trust Plc (SDCLF) Q2 2026 Earnings Call December 8, 2025 4:30 AM EST
Company Participants
Tamsin Jordan
Jonathan Maxwell – Founding Partner and Chief Executive Officer
Ben Griffiths – Director of Asset Management
Eugene Kinghorn – Chief Finance Officer
Presentation
Tamsin Jordan
Good morning, and welcome. Thank you for joining us for the SEIT interim results presentation. We’re going to start with an introduction and overview from Jonathan Maxwell, the CEO and Founder of SDCL Sustainable Limited Capital. Over to you.
Jonathan Maxwell
Founding Partner and Chief Executive Officer
Thank you very much indeed. Thank you to all of our shareholders and analysts for joining us today. My name is Jonathan Maxwell, and CEO and Founder of SDCL. Just starting with just the high-level messages from today. We’ve been working across the portfolio to deliver a combination of stability and also the conditions for positive change to deliver value for our shareholders. We’ve been focused on the change side in the short term on achieving disposals in a disciplined manner to protect shareholder value. And looking at other aspects of change that can deliver value for our shareholders going forward.
Just to contextualize the results, and I’ll come to some summaries on the business in 1 second, but just as a sort of market background or context, we have taken a more cautious approach to valuation from a net asset value perspective during this period. That has involved a slightly more cautious approach to future cash flows in specific set of circumstances, for example, where there is a degree or has been a degree of policy uncertainty related to movements in the U.S. But you’ll see that, that notwithstanding the net asset value is close to where it was at the last print in March.
We’ve also kept discount
