Impax Asset Management Group plc
Results for the year ended 30 September 2021
London, 2 December 2021 – Impax Asset Management Group plc (“Impax” or the “Company”), the specialist investor focused on the transition to a more sustainable global economy, today announces final audited results for the year ending 30 September 2021 (the “Period”).
Business highlights
- Assets under management (“AUM”) increased 84.4% to £37.2 billion (2020: £20.2 billion).
- Record net inflows of £10.7 billion (2020: £3.5 billion)
- Largest investment strategies have continued to outperform global and regional markets
- By 31 October 2021, AUM had risen further to £38.9 billion
Financial highlights
- Revenue increased 63.5% to £143.1 million (2020: £87.5 million)
- Adjusted operating profit grew by 139.5% to £55.8 million (2020: £23.3 million)
- Profit before tax grew by 173.7% to £45.7 million (2020: £16.7 million)
- Adjusted operating margin grew to 39.0% (2020: 26.6%)
- Shareholders' equity increased 54.5% to £110.5 million (2020: £71.5 million)
- Adjusted diluted earnings per share grew to 33.9 pence (2020: 14.5 pence)
- Proposed final dividend of 17.0 pence per share bringing total for the year of 20.6 pence per share (2020: 8.6 pence) up 139.5%
- Cash reserves increased 87.4% to £70.1 million (2020: £37.4 million)
Sally Bridgeland, Chair, commented:
“Against any measure this has been an excellent year for the Company, and I have been inspired by the team's ongoing dedication and delivery to our clients. We have expanded to ensure that we have the necessary resources to match ever-increasing client demand. By the end of the Period the team had grown by 24%, with hires across the investment management, client services and corporate services teams. We are also delighted with the progress of the integration of our New Hampshire-based business, which has helped further establish Impax in the strategically-important North American market.”
Ian Simm, Chief Executive, added:
“Impax has enjoyed a year of exceptional growth. During the 12 months ending 30 September 2021, the Company's assets under management increased by 84% which included a record £10.7 billion of net new inflows, up from £3.5 billion last year. This helped drive an increase in revenue to £143.1 million, up 64%. Overall, we performed very well against all key indicators of financial performance and our largest investment strategies maintained their record of outperformance versus global equity indices.
“Impax has a deeply held investment philosophy focused on the opportunities arising from the transition to a more sustainable economy. During the Period, this authentic and differentiated approach helped the Company to attract significant new mandates with asset owners and expand relationships with intermediaries and distribution partners globally.
“Impax continues to be well positioned to benefit from many regulatory, policy, market, and investor tailwinds. We believe that the focus on climate change at COP26 and the post-pandemic fiscal boost will help catalyse further investment in companies benefitting from the transition to a more sustainable economy.”