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Mar 2 2020, 07:20 GMT
Greencoat’s 2019 results are the latest demonstration of its strong operational performance to date. Annual cashflow at SPV and group level have both increased by 110%. This has resulted in an attractive cashflow yield of c.10c per share and dividend cover of 1.7x (on a gross basis). Its momentum is encouraging as it approaches a potentially busy period from an acquisition perspective. It has significant balance sheet capacity and its pipeline is described as “attractive across a range of geographies and markets”. On this basis, its current growth trajectory should be maintained for, at least, the year to come.