Revenue & Margin StrengthConsistent revenue growth and very high gross margins, plus a rising net margin, reflect a scalable fee-bearing asset management model. Durable profitability supports reinvestment, performance fee capture and shareholder returns across multi-year renewable infrastructure cycles.
Strong Cash GenerationMaterial increase in free cash flow and strong cash conversion indicate high cash-generative capacity. For an asset manager, reliable FCF underpins fund deployment, funds operational needs, supports buybacks/dividends and reduces dependence on external financing medium-term.
Conservative Capital StructureGrowing equity base and low leverage signal prudent balance sheet management and capital strength. Conservative structural leverage improves resilience to project timing risks, supports selective borrowing for new mandates and preserves flexibility for long-term infrastructure commitments.