Cordiant Digital Infrastructure Joint Managing DirectorsSteven Marshall, Benn Mikula and Chief Financial Officer Mark Tiner joined Steve Darling from Proactive to discuss the company's impressive financial results and strategic initiatives. Steven Marshall announced a 9.3% growth in net asset value (NAV), surpassing their 9% target set three years ago. This increase brings the NAV to over 120 pence per share. The dividend was raised by 5%, resulting in a 2.2 pence final dividend and a 4.2% dividend yield for the year.
Tiner noted that the 9.3% return could have reached 11% if not for adverse foreign exchange impacts. The portfolio's aggregate EBITDA grew by 7.2% on a like-for-like basis, and the 4.2% dividend yield is covered 1.6 times by adjusted funds from operations. Benn Mikula elaborated on the company's strategy of providing investors with exposure to diversified digital infrastructure, including fibre optic cables, data centers, and communication towers. Cordiant's assets span across North America and Europe, providing essential infrastructure for the digital economy. The company's conservative valuation approach offers both diversification and growth.
Marshall praised the exceptional management teams overseeing assets in Russia, the Czech Republic, Poland, and Ireland. These teams have driven revenue growth and strategic acquisitions, such as expanding cloud services in the Czech Republic and acquiring communication towers in Poland. Cordiant Digital Infrastructure's robust financial performance and strategic initiatives highlight the company's commitment to growth and its pivotal role in the digital infrastructure sector.
