i(x) Net Zero reports 125.9% increase in Portfolio NAV in 2023 results

i(x) Net Zero PLC (LON:IX), the investing company which focuses on the Energy Transition, has announced the audited final results for the year ended 31 December 2023. All amounts are in USD unless otherwise stated.

Financial and Investment Highlights

·    Fair value of investments in i(x)’s portfolio companies (Portfolio NAV) as at 31 December 2023 increased by 125.9% to $144.22 million (31 December 2022: $63.84 million);

·    Portfolio NAV per share, including cash of $5.62 million (£4.42 million), as at 31 December 2023 of $1.74 per share (£1.37 per share) (31 December 2022: $0.90 per share (£0.75 per share);

·    Profit of $78.58 million from continuing operations before non-cash deferred tax provision and share-based compensation (2022: Loss $5.08 million);

·    As at 31 December 2023, the Company had $3.75 million of borrowings and cash of $5.62 million (31 December 2022: no borrowings and cash of $7.48 million); and

·    In 2023, i(x) made portfolio investments of $1.85 million (2022: $1.60 million).

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