Impax Asset Management Group plc – Results for the year ended 30 September 2016

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Impax Asset Management

Impax Asset Management Group plc (“Impax” or the “Company”), the AIM quoted investment manager focused on environmental markets and related resource efficiency sectors, today reports final audited results for the year ending 30 September 2016 (the “Period”).

Business update

  • Assets under management and advice (“AUM”) increased 59% to new peak of £4.5 billion (2015: £2.8 billion), rising further to £4.7 billion by 31 October 2016
  • Record net inflows of £496 million over the 12 months and encouraging mandate pipeline
  • All Listed Equity strategies outperformed the global benchmark (MSCI All Country World Index)
  • First close at €149 million of our third private equity renewable energy infrastructure fund investing in European assets
  • Continued strong growth of North American business
  • Expansion of product offering for UK market

Financial performance

  • Revenue: £21.1 million (2015: £19.7 million)
  • Operating Earnings1 : £4.2 million (2015: £3.1 million)
  • Profit before tax: £5.2 million (2015: £5.1 million)
  • Shareholders’ equity: £26.7 million (2015: £25.9 million)
  • Proposed final dividend: 1.6 pence per share (2015: 1.1 pence per share)

Keith Falconer, Chairman, commented:

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    “2016 has been one of the most successful in our nineteen year history, with strong growth in assets and investment out-performance.  In an increasingly challenging environment for generalist investment managers, Impax is well positioned with a clear focus on providing an attractive specialist offering to asset owners. I believe our accomplishments across the business over the past twelve months demonstrate that our business model is well positioned to continue to deliver value to all our stakeholders.”

    Ian Simm, Chief Executive added:

    “Following the strong results of 2016, the positive news flow has continued in the first couple of months of this financial year. On 30 November we announced the first close of our third private equity renewable energy infrastructure fund which invests in European assets.  Our listed equity mandate pipeline is also most encouraging and we see a rapid expansion of demand for investment management services targeting environmental and resource efficiency markets.”

    1 Revenue less operating cost, excluding credits/charges related to legacy long-term incentive schemes