Impax Asset Management Group plc

Results for the year ended 30 September 2020

London, 3 December 2020 - 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 2020 (the "Period").

Business highlights

  • Assets under management ("AUM") increased 34% to £20.2 billion (2019: £15.1 billion)

  • Net inflows of £3.5 billion (2019: £1.4 billion)

  • Major investment strategies have continued to outperform global and regional markets

  • Net inflows of over £1.9 billion in the first two months of the new financial year contributed to AUM rising to £23.4 billion by 30 November

Financial highlights

  • Revenue increased 19% to £87.5 million (2019: £73.7 million)

  • Adjusted operating profit grew by 29% to £23.3 million (2019: £18.0 million)

  • Profit before tax of £16.7 million (2019: £18.9 million)

  • Shareholders' equity increased 13% to £71.5 million (2019: £63.2 million)

  • Proposed final dividend of 6.8 pence per share (2019: 4.0 pence) which together with the interim dividend of 1.8 pence per share (2019: 1.5 pence) gives a total for the year of 8.6 pence per share (2019: 5.5 pence), up 56%.

  • Cash reserves of £37.4 million (2019: £26.2 million)

Keith Falconer, Chairman, commented:

"Impax has proven highly resilient throughout the COVID-19 crisis to deliver outstanding success. Over the Period we expanded our headcount by 12% and I am also very pleased that the functional integration of the New Hampshire-based Pax World Management business, which Impax acquired in January 2018, is largely complete. Furthermore, we signed an updated distribution agreement with BNP Paribas Asset Management that cements our long-term relationship with this important partner."

Ian Simm, Chief Executive, added:

"I would like to thank all my colleagues who have worked extremely hard and effectively to deliver Impax's excellent set of results, marked by multiple industry awards and significant growth across key performance indicators.

"Over the 12 months to 30 September 2020, our AUM increased by 34% to £20.2 billion and has expanded further in the first two months of the new financial year, reaching £23.4bn on 30 November 2020. Year-on-year, our revenue was up 19%, driven by annual net inflows of £3.5 billion into the funds and accounts that we manage (up from £1.4 billion in the prior year). We have sustained strong investment performance across major investment strategies and currently have a solid pipeline of potential new business.

"Impax's investment thesis is based on our belief that companies that are benefiting from the transition to a more sustainable economy should, on average, out-perform their peers in other markets. Over the past 12 months we have seen further evidence supporting this view. There are strong reasons to believe that governments, investors and consumers are seeking to steer capital towards markets that offer inherent resilience to environmental and social problems."

Ends

Media Enquiries:

Montfort Communications

Gay Collins

+44(0)77 9862 6282

Louis Supple

+44(0)77 3943 0102

Jack Roddan

+44(0)78 2567 0695

impax@montfort.london

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Impax Asset Management Group plc published this content on 03 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 December 2020 07:48:08 UTC