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Foresight Group Holdings (FSG) investor relations material
Foresight Group Holdings H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary2 Dec, 2025
Executive summary
Achieved strong H1 FY26 financial performance with 4% AUM growth to £13.7bn, 11% revenue growth to £81.5m, and 6% core EBITDA pre-SBP growth to £30.6m, supported by robust retail and institutional fundraising and a diversified platform across real assets, private equity, and capital management in the UK, Europe, and Australia.
Recurring revenue remained high at 85%-90%, with over 90% long-duration capital, providing strong revenue visibility and compounding growth.
Profits and adjusted EPS have grown significantly since IPO, with adjusted EPS up 15% to 20.4p and profit attributable to shareholders rising to £18.4m.
Management fee margins and dividend payout ratios have remained stable, with interim DPS up 9% to 8.1p per share.
Demonstrated a strong post-IPO track record, with AUM CAGR of 15% and a resilient business model.
Financial highlights
AUM increased 4% year-over-year to £13.7bn; FUM up 1% to £9.6bn.
Revenue rose 11% to £81.5m; recurring revenue at 86.6%-87% of total.
Core EBITDA pre-SBP grew 6% to £30.6m; margin compressed to 37.6%-38% due to negative contribution from FCM/public markets.
Adjusted EPS up 15% to 20.4p; basic EPS at 16.3p (up from 10.9p); interim dividend up 9% to 8.1p per share.
Total dividends have delivered a 21% three-year CAGR, returning over £90m to shareholders since IPO.
Outlook and guidance
On track to double core EBITDA pre-SBP by FY29, targeting c.£118m, supported by strong demand for tax-efficient products and multi-vintage institutional strategies.
Margin expected to remain stable for the rest of the year, with improvement anticipated in H2 but likely to remain below 40%; medium-term target is mid-40s by FY29.
Positive tailwinds for tax-efficient products following UK budget; no material impact from recent policy changes.
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Frequently asked questions
Foresight Group Holdings Limited is a UK-based infrastructure manager. It operates in three segments: Infrastructure, Private Equity, and Foresight Capital Management. The company manages 330 infrastructure assets with a focus on solar and onshore wind assets, bioenergy, and waste, as well as renewable energy enabling projects. Foresight Group Holdings Limited was founded in 1984 and is headquartered in London, England.
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