Foresight Group Holdings Limited announces maiden full results for the year ended 31 March 2021

Foresight Group Holdings Limited ("Foresight" or "the Company"), a leading infrastructure and private equity manager, is pleased to announce the Company's maiden full year results for the 12 months ended 31 March 2021.

 

Click here to read Foresight Group Holdings Limited FY 2021 Annual Report.

Click here to read the announcement.

 

Highlights

●	Successful London listing in February 2021 already leading to increased visibility and opportunities
●	AUM up 59% to £7.2 billion (2020: £4.5 billion) with strong organic net flows of £0.8 billion (organic gross flows of £1.2 billion);
●	Acquisition of Pensions Infrastructure Platform (PiP) added £1.7 billion AUM and broadens core infrastructure offering
●	Revenue up 21% to £69.1 million (2020: £57.3 million),with recurring revenues running at 90.3%
●	Core EBITDA up 89% to £23.9 million (2020: £12.6 million); core EBITDA margin improved to 34.6% (2020: 22.1%)
●	Expanded and developed investment strategies with first investments into forestry (c.£100m), fibre-broadband (c.£100 million) and CNG refueling stations (c.£80 million)
●	Strong start to fundraising in FY2022 with net inflows of over £0.5 billion in Q1 plus valuation uplift of £0.1 billion (to 30 June 2021) resulting in AUM of £7.8 billion as at 30 June 2021 (an annualized run-rate of 33.3%, ahead of targeted annual AUM growth rate of 20-25%)
●	Final dividend of 1.7 pence per share; payout ratio increased to 60% (previously 50%) reflecting strength of business and positive outlook

 

Bernard Fairman, Executive Chairman of Foresight, said:

"These are transformational times for Foresight Group as we work to cement and develop our position as market leader in both sustainable infrastructure and real assets and in regional UK private equity.   Foresight performed very strongly during the year to the end of March and this momentum has continued into the current year.  I am delighted that the positive outlook across our entire business, together with the Group's strong financial position, means that we have been able to increase the dividend payout ratio to 60% from the proposed 50%.  And we are already seeing the benefits of our February listing as we leverage our fast-growing platform to scale our business and to deliver on our ambitious growth plans."

 

Analyst presentation and annual report

A webcast for presentation and Q&A for analysts will be held at 9.00a.m. (UK time) on 27 July 2021, hosted by Bernard Fairman (Executive Chairman) and Gary Fraser (CFO and COO). Those wishing to join should register via the following link: https://www.lsegissuerservices.com/spark/FORESIGHTGROUPHOLDINGSLIMITED/events/0831b2ed-b081-4695-9121-db9434e0ab9f

 

A copy of the annual report will be submitted to the National Storage Mechanism and will shortly be available at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. The annual report and analyst presentation materials will also be available in the Shareholder Centre section of Foresight's corporate website https://www.fsg-investors.com from 7.00am on 27 July 2021.

 

 

About Foresight Group Holdings Limited

Foresight Group was founded in 1984 and is a sustainable, diversified asset manager.  With a long-established focus on ESG and sustainability-led strategies, it aims to provide attractive returns to its institutional and private investors from hard-to-access private markets.  Foresight Group manages over 300 infrastructure assets (317 as at 31 March 2021, up from 247 the previous year and accounting for 90% of the Company's AUM) with a focus on solar and onshore wind assets, bioenergy and waste, as well as renewable energy enabling projects, energy efficiency management solutions, social and core infrastructure projects, and sustainable forestry assets.  Its private equity team manages regionally focused investment funds across the UK, supporting over 100 SMEs.  Foresight Group operates from 12 offices across the UK, Europe and Australia.

 

Foresight Group Holdings Limited listed on the Main Market of the London Stock Exchange in February 2021. https://www.fsg-investors.com/

 

 

For further information, please contact:

 

Foresight Group	+44(0)20 3667 8100
IR@foresightgroup.eu
Jonathon McManus
+44 (0) 7790 804 477
Citigate Dewe Rogerson (Public relations adviser to Foresight Group)
Caroline Merrell
caroline.merrell@citigatedewerogerson.com
+44 (0) 7852 210 329
Toby Moore
toby.moore@citigatedewerogerson.com
+44 (0) 7768 981 763
Jefferies
+44 (0) 20 7029 8000
Paul Nicholls
Graham Davidson
Lee Morton
Max Jones
Numis
+44 (0) 20 7260 1000
Charlie Farquhar
Stephen Westgate
Laura White