Final Results for the financial year ended:
Lord Davies of Abersoch
These results, delivered during an unprecedented downtime demonstrates the strength of the ICG business model. This allowed the Board to recommend an eleventh consecutive increase in the annual dividend.
Our goal is to provide capital to help companies develop and grow. As the company recovers and adjusts to the shocks of the past 18 months, structurally favorable winds remain in the industry. Clients continue to believe that we invest on their behalf and that companies benefit from our capital.
I am confident that ICG has the people and the platform to take advantage of future opportunities and I am delighted that the company has continued to invest in its future growth throughout the year.
I was delighted to appoint two new board members this year, Rosemary Leith and Matthew Lester. It offers diverse experiences and will help ensure the continued success of the ICG
This was excellent progress for the ICG. We made record profits and continued to invest in our platform.
I am very grateful for the extraordinary dedication of our employees and our portfolio companies.
Our success this year is further supported by longstanding customer relationships, the strength of our brand and platform, and our investment performance. We raised $ 10.6 billion over the year, bringing our third-party AUM to $ 56 billion. We have expanded our presence with customers and expanded our product offering with new strategies such as Life Sciences.
Our balance sheet has confirmed its resilience and demonstrates its role as an accelerator for future growth as we continue to develop new strategies.
We have a business model and financial profile that allow us to thrive in dynamic market conditions and are confident in our prospects.
The Board of Directors and management monitor the financial performance of the Group on the basis of alternative performance measures (APM), which are not IFRS. An explanation of these benchmarks can be found on page 7 and a reconciliation of the APM to the IFRS benchmarks, along with the IFRS financial statements.
Unless otherwise indicated, the financial results discussed here are based on the APM, which the Board believes helps shareholders in assessing the Group’s financial performance.
This income statement has been prepared solely for the purpose of providing additional information to shareholders and complies with the applicable requirements of the UK Listing Authority’s transparency and disclosure rules. The income statement must not be considered by anyone else or for any other purpose.
This income statement may contain forward-looking statements. Such statements are made in good faith by the directors based on the information in their possession at the time of the adoption of this report and should be treated with caution due to the inherent uncertainties, including economic and business risk factors, associated with such statements. start. forward-looking information.
The business model has proven its strength; we look forward to it with confidence.
The past 18 months have been unprecedented in almost every way. The speed with which society and the economy went from shy optimism to uncertainty in February 2020 has challenged people and businesses around the world. The ICG was not immune to this. Considering the EF21, we expected to continue our growth path, including the introduction of several new strategies. Circumstances have changed and require us to act quickly in the first quarter of our fiscal year to focus on protecting our people, engaging our clients about the potential impact on fund investments, and partnering with our portfolio companies. To ensure they have the financial and operational resilience to navigate the new environment. I am proud of how our employees are responding and working together during this time and would like to take this opportunity to thank them for their continued contribution to the success of the ICG.
In this context, the ICG has continued to grow and develop. We have further developed our environmental, social, and management (ESG) agenda, invested in our talent, and expanded our product offering with new strategies, such as life sciences. We increased our third-party resources by 19%, expanded our customer base by 8%, and increased our workforce by 15%.