REG - Foresight Group Hldg - Trading update for financial year ended 31/03/25

Foresight groupAnnouncement

10/04/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250410:nRSJ4083Ea&default-theme=true

RNS Number : 4083E  Foresight Group Holdings Limited  10 April 2025

LEI: 213800NNT42FFIZB1T09

10 April 2025

 

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR TO
THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, THE REPUBLIC OF SOUTH
AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA OR ANY OTHER JURISDICTION IN
WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE OF THIS ANNOUNCEMENT WOULD BE
UNLAWFUL

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. FOR IMMEDIATE RELEASE

 

 

 

 

 

 

 

Trading update for the financial year ended 31 March 2025

Over £1.1 billion of long duration capital raised organically

 

Foresight Group Holdings Limited ("Foresight", the "Group") is a leading
investment manager offering institutional and retail investors a diverse range
of private and listed investment solutions in real assets located in the UK,
Europe and Australia, and growth capital for SME businesses across the UK and
Ireland.

 

The Group is pleased to announce its trading update for the financial year
ended 31 March 2025 ("FY25", the "period").

 

Financial and Operational Highlights

 

AUM/FUM Growth

 

Assets under Management ("AUM") and Funds under Management ("FUM") increased
by 9% and 14% to £13.2 billion and £9.6 billion respectively (FY24: £12.1
billion AUM and £8.4 billion FUM). On a constant currency basis, AUM
increased to £13.5 billion, with FUM at £9.7 billion.

 

·      Record fundraising of £587 million in higher margin retail
vehicles, up 35% (FY24: £436 million), with strong investment performances
from Foresight VCT Plc and Foresight Enterprise VCT Plc driving accelerated
closes

 

·      A growing investor and investment pipeline for Foresight Energy
Infrastructure Partners II SCSp ("FEIP II") is supporting the fund's progress
towards achieving at least the €1.25 billion final target, with €485
million commitments approved to date

 

·      The launch of two new regional private equity funds further
consolidates the Group's excellent coverage of the UK and Ireland, with 15
active funds and £112 million raised in FY25

 

·      Foresight Capital Management's ("FCM") existing vehicles
continued to experience listed market headwinds with net outflows of £(225)
million, including gross inflows of £119 million, and broadly flat NAV
performance

 

·      The pro-active execution of strategic activity 1  (#_ftn1)
increased FCM's AUM by £744 million, collectively adding product diversity,
investment experience and scale

 

 

High Quality Earnings

 

High revenue visibility was maintained, with recurring revenue within our
target range of 85-90% and long duration capital 2  (#_ftn2) over 90% of AUM.
This profile provides the business with significant earnings resilience during
challenging market conditions.

 

We expect FY25 core EBITDA pre-Share Based Payments ("SBP") to be in line with
market expectations (FY25 consensus range: £62.2 million - £63.8 million,
FY24: £59.3 million).

 

Capital Allocation

 

Following the conclusion of the original share buyback programme announced on
27 October 2023, the Group is pleased to announce a new, substantially
increased, programme to buy back (repurchase) Ordinary Shares (as defined in
Foresight's articles of incorporation) in the capital of Foresight of up to
£50 million during the next 3 years.

 

The Group Board will reassess the utilisation of this Share Buyback authority
when considering other capital allocation priorities, such as M&A.

 

Bernard Fairman, Executive Chairman of Foresight Group Holdings Limited,
commented:

 

"In FY25 we achieved a record year of fundraising for our higher margin retail
vehicles, alongside successful institutional fundraising across our
infrastructure and private equity businesses.

 

"Our growing and highly cash generative business also enabled us to
successfully complete our £17 million share buyback programme. The new share
buyback tranche announced today of up to £50 million over the next three
years, in combination with our existing dividend policy, results in the return
of substantially all free cash flow to shareholders.

 

"With our focus on managing long duration capital and our multi-faceted
fundraising pipeline across both institutional and retail vehicles, we remain
on track to double our core profitability metric over the five years to FY29."

 

FY25 Results Announcement

 

Foresight's Full Year Results to 31 March 2025 are scheduled to be released on
Thursday 26 June 2025,

with a presentation for analysts on the same day. Details on how to attend the
presentation will be available

on https://www.foresightgroup.eu/shareholders
(https://www.foresightgroup.eu/shareholders) in due course.

 

Notes:

 

·      Please note that all figures contained in this announcement are
unaudited.

 

·      All percentage movements contained in this announcement are based
on actual figures.

 

·      Group AUM and FUM movement summary on a constant currency basis:

 

 

 

                               Last 3 months          Last 12 months         Constant currency basis (LTM)

                                                      ("LTM")
 (£ billion)   31 Mar 2025     31 Dec 2024  Change %  31 Mar 2024  Change %  31 Mar 2025      Change %
               (a)             (b)          (a/b)     (c)          (a/c)     (d)              (d/c)
 AUM           13.2            12.2         +8%       12.1         +9%       13.5             +11%
 FUM           9.6             8.5          +12%      8.4          +14%      9.7              +16%

Percentage movements are calculated on underlying numbers.

 

Divisional AUM movement (last 3 months):

 

 (£ billion)                 31 Mar 2025 (FY25)                             31 Dec 2024 (Q3 FY25)  Change %
 Infrastructure              10.2                                           9.9                    +3%
 Private Equity              1.8                                            1.7                    +5%
 FCM                         1.2                                            0.6                    +113%
                                                         H-Advisors Maitland

 Foresight Group Investors
 Liz Scorer / Ben McGrory                                Sam Cartwright
 +44 (0) 7966 966956 / +44 (0) 7443 821577               +44 (0) 782 725 4561
 ir@foresightgroup.eu (mailto:ir@foresightgroup.eu)      Foresight@h-advisors.global (mailto:Foresight@h-advisors.global)

 

About Foresight Group Holdings Limited

Founded in 1984, Foresight is a leading investment manager in real assets and
capital for growth, operating across the UK, Europe, and Australia.

With decades of experience, Foresight offers investors access to attractive
investment opportunities at the forefront of change. Foresight actively builds
and grows investment solutions to support the energy transition, decarbonise
industry, enhance nature recovery and realise the economic potential of
ambitious companies.

A constituent of the FTSE 250 index, Foresight's diversified investment
strategies combine financial and operational skillsets to maximise asset value
and provide attractive returns to its investors. Its wide range of private and
public funds is complemented with a variety of investment solutions designed
for the retail market.

Visit https://foresight.group (https://www.foresight.group/) for more
information.

Follow us on LinkedIn for key updates.

 

 

 

 

 

 

 

Disclaimer - Forward-looking statements

This announcement, prepared by Foresight Group Holdings Limited (the
"Company"), may contain forward-looking statements about the Company. Such
forward-looking statements can be identified by the use of forward-looking
terminology, including the terms "believes", "projects", "estimates", "plans",
"anticipates", "targets", "aims", "continues", "expects", "intends", "hopes",
"may", "will", "would", "could" or "should" or, in each case, their negative
or other various or comparable terminology. Forward-looking statements involve
known and unknown risks, uncertainties, assumptions and other factors which
are beyond the Company's control and are based on the Company's beliefs and
expectations about future events as of the date the statements are made. If
the assumptions on which the Company bases its forward-looking statements
change, actual results may differ from those expressed in such statements.
There are a number of factors that could cause actual results and developments
to differ materially from those expressed or implied by these forward-looking
statements, including those set out under "Principal Risks" in the Company's
annual report for the financial year ended 31 March 2024. The annual report
can be found on the Company's website (https://www.foresightgroup.eu/).
Forward-looking statements speak only as of the date they are made. Except as
required by applicable law and regulation, the Company undertakes no
obligation to update these forward-looking statements. Nothing in this
announcement should be construed as a profit forecast.

 1  (#_ftnref1) Acquisition of the trade and assets of WHEB Asset Management
LLP on 5 March 2025 and appointment as sub-investment manager and
sub-distributor for the Liontrust Diversified Real Assets fund on 27 January
2025.

 2  (#_ftnref2) Defined as closed ended funds.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTUPUGACUPAGRB