Foresight Solar Fund Ltd (LSE:FSFL)

Full Year 2025 Foresight Solar Fund Ltd Earnings Call Transcript

Mar 24, 2026 / 10:00 AM GMT

Release Date Price: £0.613 (+1.16%)

Transcript

Key Points

Positve

Foresight Solar Fund Ltd (LSE:FSFL) achieved a 3.4% generation outperformance in the UK, offsetting underperformance in overseas portfolios.
The company met its dividend cover target of 1.3 times for 2025, demonstrating strong operational and financial performance.
Foresight Solar Fund Ltd (LSE:FSFL) is maintaining its attractive dividend of 8.1p per share, offering a yield of approximately 13.4%.
The company's balance sheet is robust with a gearing level of 41.2%, providing flexibility in capital allocation.
The commissioning of the first battery storage project at Sandridge is expected to positively contribute to portfolio cash generation and shareholder value.

Negative

The portfolio NAV fell significantly to 99.2p per share at the year-end, driven by a moderation of long-term power price forecasts and a write-down of the Australian portfolio.
The company faced a material negative impact from a tax review, which increased future cash tax payments.
Curtailment in Australia and Spain led to underperformance in these overseas portfolios.
Grid outages in the UK have been increasing, impacting availability and generation performance.
There are challenges in sourcing replacements for inverters, which could affect the lifecycle investment and operational performance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

FSFL.L - Foresight Solar Fund Ltd
Full Year 2025 Foresight Solar Fund Ltd Earnings Call
Mar 24, 2026 / 10:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good day, ladies and gentlemen, and welcome to Foresight Solar Full year results presentation.

At this time, all participants are in listen-only mode. Later, we will conduct a question-and-answer session.

If you wish to ask a question, we ask that you please use the raise hand function at the bottom of your Zoom screen. If you've dialed in, please select 9 to raise your hand and 6 to unmute. Instructions will follow at the time of Q&A. Participants can also submit questions through the webcast page using the Ask a Question button. I would like to remind all participants that this call is being recorded. Questions will follow the presentation.

I'll now hand over to Toby Verno, fund manager

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