Videos

Close Video

Overview

John Laing Environmental Assets Group Limited (“JLEN” or the “Company”) is an environmental infrastructure investment fund which aims to provide shareholders with a sustainable dividend, paid quarterly, that increases progressively in line with inflation, and to preserve the capital value of its portfolio on a real basis over the long term through the reinvestment of cash flows not required for the payment of dividends.

JLEN’s investment policy is to invest in a diversified portfolio of environmental infrastructure projects that have the benefit of long‑term, predictable, wholly or partially inflation‑linked cash flows supported by long‑term contracts or stable regulatory frameworks.

At 31 July 2019, the portfolio included onshore wind, PV solar, anaerobic digestion, end of river hydro, battery storage, waste and wastewater processing projects in the UK and two onshore wind projects in France. The wind, solar and anaerobic digestion projects are supported by the UK’s and France’s commitment to low-carbon energy generation targets whilst the waste and wastewater processing projects benefit from long‑term contracts backed by the UK Government.

www.jlen.com

Directors

Richard Morse (Chairman)
31 years in energy and infrastructure. Partner at Opus Corporate Finance, where he leads the environmental energy practice

Richard Ramsay (Snr Ind Director)
Considerable experience in energy sector and closed-end fund sectors. Current Chair of Seneca Global Income & Growth Trust plc.

Christopher Legge (Director)
Previously head of Audit and Accountancy at Ernst & Young.

Other Directors: Denise Mileham and Peter Neville

Financials

P&L2019
£~000
2018
£~000
Operating income59,247
26,078
Operating expenses(5,895)(5,018)
Profit for the year53,35221,060
Basic and diluted EPS 12.2p5.7p
Dividend per share6.51p6.31p
BALANCE SHEET2019
£~000
2018
£~000
Cash or cash equivalents1,8495,509
Total assets521,902393,997
(Total liabilities)(1,563)(1,610)
Net assets520,339392,387
Net assets per share104.799.6

Peer Group

  • Greencoat UK Wind Plc (LSE: UKW): invests in UK wind farms
  • NextEnergy Solar Fund Limited (LSE: NESF): invests in UK solar power plants

Major Shareholders

  • Newton IM – 7.91%%
  • Legal & General – 5.12%
  • Baillie Gifford – 5.11%
  • Architas – 2.96%
  • John Laing Investments – 1.89%
  • Brooks Macdonald – 1.26%
  • Edentree IM – 1.10%

Macro Indicators

 

Media coverage

Shares Magazine (June 2019)
“John Laing Environmental looks beyond wind and solar: Anaerobic digestion, biomass and hydro power could be part of its future”

Thisismoney.co.uk (February 2019)
“John Laing Environmental Assets aims to pay a dividend generated from environmentally sustainable assets.”

Broker Coverage

Stifel (March 2019)
“We expect the acquisition activity to continue in the months ahead, primarily in the environmental processing area, such as Anaerobic Digestion, where deal pricing appears more favorable than for solar or wind…. We see the 5.8% prospective dividend yield as relatively attractive and it is good to see the portfolio being diversified with it now being exposed to around 30 investments.”

Submit your details to be kept up to date with announcements regarding 'JLEN'

We have a strict data protection policy and will not share your details with external parties.