Edison Investment Research Limited
London, UK, 1 July 2026
Edison issues report on SDCL Efficiency Income Trust (SEIT) Edison issues report on SDCL Efficiency Income Trust (LSE: SEIT) SDCL Efficiency Income Trust's (SEIT's) FY26 results show a portfolio that continues to perform operationally, but the investment proposition has shifted decisively to realising value, reducing debt and returning cash to shareholders in the shortest practicable timeframe. Portfolio EBITDA was c £91m in CY25, up from c £86m in CY24, including assets sold post year-end, while NAV/share was reduced to 77.8p at 31 March from 90.6p, and the portfolio valuation fell to c £1.1bn in FY26 from c £1.2bn. The valuation reduction primarily reflects asset-specific changes to growth, development timing and regulatory assumptions, rather than a broad deterioration in the quality of the underlying assets. SEIT paid three interim dividends totalling 4.8p/share, covered 1.0x by cash, but did not declare a fourth interim dividend. The board's focus is now to maximise cash available to shareholders, with future returns to be made by the most appropriate mechanism once the revolving credit facility (RCF) has been substantially reduced. Click here to read the full report. All reports published by Edison are available to download free of charge from its website www.edisongroup.com Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. For more information, please contact Edison: enquiries@edisongroup.com +44 (0)20 3077 5700 Connect with Edison on:
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2358176 01-Jul-2026
