Energy
How capital receipts helped cover dividends at SDCL
SDCL included a substantial capital receipt in its dividend coverage measure as investment constraints exposed the limits of the cash coming from its portfolio
The research library
Uncommon companies. Closer reading.
Explore specialist businesses, essential industries and the details that deserve a second look.
11 articles
Energy
A power price dispute tests a green fertiliser project in Paraguay
ATOME secured commitments for Villeta but the electricity arrangement needed to make the project viable became the subject of a dispute with the state
Energy
The costs between an energy asset sale and the shareholder payout
VH Global Energy Infrastructure illustrates why headline consideration and comparisons with book value need a careful reconciliation
Energy
The earnings decline facing solar parks as old tariffs expire
A 7C Solarparken forecast shows how generating assets can remain productive while the support arrangements behind their earnings run out
Industrials
Contract obligations complicate the cash picture at CFE
CFE illustrates why investors need to read working capital and cash-flow disclosures alongside headline net cash
Industrials
A Czech utility reveals the effects of a chip production slowdown
Energoaqua’s disclosures show how investment around a semiconductor customer can become exposed when the expected production does not arrive
Energy
Who keeps the grid running?
A closer look at specialist suppliers, replacement cycles and the businesses behind essential infrastructure.
Industrials
The maintenance economy
What an industrial backlog can—and cannot—tell us about recurring demand.
Company notes
Inside niche manufacturing
Working capital, customer concentration and the details behind a specialist business.
Research guide
Reading an order book
A practical guide to separating booked orders from durable demand.