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Financial Results

Assets under management increased by 19% to EUR 3.1 billion at the end of 2015. The operating income (excluding extraordinary results) increased by 15.7% to EUR 30.0 million (2014: EUR 25.9 million). Total income was EUR 30.8 million.

Expenses in 2015 increased by 11.1% to EUR 23.6 million (2014: EUR 21.2 million), primarily because of an increase in direct and indirect co-worker costs.

Profit, after tax, was EUR 5.8 million, down by 30.2% compared with 2014. This decrease is mainly due to the fact that Triodos Investment Management realised extraordinary gains in 2014 on investments resulting from the sale of shares in equity investments in the Triodos Sustainable Finance Foundation and Hivos Triodos-Fund portfolios. Without this extraordinary income, the net profit in 2014 would have amounted to EUR 4.2 million. Triodos Investment Management’s balance sheet consists mostly of cash, short term debtors on managed entities and short term liabilities to Triodos Bank.