International Public Partnerships (LON:INPP) Announces Earnings Results

International Public Partnerships (LON:INPP) released its earnings results on Thursday. The company reported GBX 5.92 EPS for the quarter, Digital Look Earnings reports. International Public Partnerships had a net margin of 97.32% and a return on equity of 9.61%.

Here are the key takeaways from International Public Partnerships’ conference call:

• NAV per share rose 1.3% to 153.4 pence in the first half, producing an annualized total NAV return of 8.2%. The company reaffirmed its 2026 dividend target of 8.79 pence per share, with interim dividends covered 1.3 times by operating cash flow.
• INPP has realized more than £440 million of assets, generally at or above published valuations, and reinvested or committed over £480 million into opportunities targeting returns above 11%, compared with the portfolio’s 9.1% discount rate. Management said this capital recycling has improved portfolio duration, inflation protection and revenue security.
• Core assets continued to perform broadly in line with expectations, including 99.4% availability across the OFTO portfolio and 99.8% availability across PPP assets. Management also highlighted progress at Sizewell C, Tideway and BeNEX, alongside a potential pipeline of roughly £1 billion in regulated, PPP and operating assets.
• INPP wrote its equity investment in broadband provider toob down to nil and will not commit further capital because of structural headwinds in the U.K. alternative-fibre market, although the exposure was less than 1% of NAV. Management also cautioned that dividend cover is likely to normalize from the unusually strong 1.3 times first-half level.
• The company maintained its 9.1% portfolio discount rate despite recent bond-yield volatility, citing transaction evidence and inflation protection, but acknowledged that sustained higher yields could eventually affect infrastructure valuations. INPP may use its £350 million revolving corporate debt facility as a bridge when new investments precede asset disposals.

International Public Partnerships Stock Up 0.7%

International Public Partnerships stock opened at GBX 139 on Friday. The firm has a market capitalization of £2.49 billion, a PE ratio of 9.73 and a beta of 0.53. International Public Partnerships has a 52 week low of GBX 115.83 and a 52 week high of GBX 145.80. The firm’s 50-day simple moving average is GBX 140.52 and its 200 day simple moving average is GBX 135.39.

International Public Partnerships Company Profile

INPP is a global infrastructure fund that invests in high-quality infrastructure projects and businesses that are sustainable over the long-term. INPP aims to provide our investors with stable, long-term, inflation-linked returns, based on growing dividends and the potential for capital appreciation.