Annuncio • Apr 22
Capital Limited Reiterates Earnings Guidance for 2026 Capital Limited reiterated earnings guidance for 2026. For the period, the company expects revenue of $410 million to $440 million. Annuncio • Apr 21
Capital Limited, Annual General Meeting, May 20, 2026 Capital Limited, Annual General Meeting, May 20, 2026. Location: panmure liberums london office, ropemaker place, level 12, 25 ropemaker street, ec2y 9ly, london United Kingdom New Risk • Apr 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 8.1% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (15% increase in shares outstanding). Upcoming Dividend • Apr 09
Upcoming dividend of US$0.013 per share Eligible shareholders must have bought the stock before 16 April 2026. Payment date: 12 May 2026. Payout ratio is a comfortable 7.5% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (1.7%). New Risk • Apr 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 8.1% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Large one-off items impacting financial results. Declared Dividend • Mar 22
Final dividend of US$0.013 announced Shareholders will receive a dividend of US$0.013. Ex-date: 16th April 2026 Payment date: 12th May 2026 Dividend yield will be 1.8%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by both earnings (8% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 3.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 34% over the next 3 years. However, it would need to fall by 91% to increase the payout ratio to a potentially unsustainable range. New Risk • Mar 20
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 8.1% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Reported Earnings • Mar 20
Full year 2025 earnings released: EPS: US$0.35 (vs US$0.089 in FY 2024) Full year 2025 results: EPS: US$0.35 (up from US$0.089 in FY 2024). Revenue: US$345.8m (flat on FY 2024). Net income: US$69.4m (up 301% from FY 2024). Profit margin: 20% (up from 5.0% in FY 2024). Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Annuncio • Oct 17
Capital Limited Revises Group Revenue Guidance for the Full Year 2025 Capital Limited revised group revenue guidance for the full year 2025. For the year, the company now expects revenue to be in the range of $335 million to $350 million up from $300 million - $320 million as originally guided at full year 2024 results. Reported Earnings • Aug 18
First half 2025 earnings released: EPS: US$0.076 (vs US$0.047 in 1H 2024) First half 2025 results: EPS: US$0.076 (up from US$0.047 in 1H 2024). Revenue: US$159.2m (down 6.0% from 1H 2024). Net income: US$14.8m (up 61% from 1H 2024). Profit margin: 9.3% (up from 5.4% in 1H 2024). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Declared Dividend • Aug 17
First half dividend of US$0.013 announced Shareholders will receive a dividend of US$0.013. Ex-date: 28th August 2025 Payment date: 6th October 2025 Dividend yield will be 2.5%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (14% cash payout ratio). The dividend has increased by an average of 3.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 36% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annuncio • Aug 16
Capital Limited Declares Interim Dividend, Payable on October 6, 2025 Capital Limited Declared an interim dividend of 1.3 cents per share, to be paid on 6 October 2025 to shareholders registered on 29 August 2025. Annuncio • Apr 23
Capital Limited, Annual General Meeting, May 21, 2025 Capital Limited, Annual General Meeting, May 21, 2025. Location: stifel nicolaus europe limited, 150 cheapside, ec2v 6et, london United Kingdom Recent Insider Transactions • Apr 07
Executive Chairman recently bought €74k worth of stock On the 3rd of April, Jamie Boyton bought around 101k shares on-market at roughly €0.73 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Jamie's only on-market trade for the last 12 months. Declared Dividend • Mar 30
Final dividend of US$0.013 announced Shareholders will receive a dividend of US$0.013. Ex-date: 17th April 2025 Payment date: 15th May 2025 Dividend yield will be 3.6%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 3.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 18% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 27
Full year 2024 earnings released: EPS: US$0.089 (vs US$0.19 in FY 2023) Full year 2024 results: EPS: US$0.089 (down from US$0.19 in FY 2023). Revenue: US$348.0m (up 9.3% from FY 2023). Net income: US$17.3m (down 53% from FY 2023). Profit margin: 5.0% (down from 12% in FY 2023). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Annuncio • Mar 27
Capital Limited Proposes Final Dividend for the Year Ended 31 December 2024, Payable on 15 May 2025 Capital Limited announced in respect of the year ended 31 December 2024, the Directors propose that a final dividend of 1.3 cents (2023: 2.6 cents) per share be paid to shareholders on 15 May 2025 (2023: 15 May 2024). This final dividend has not been included as a liability in these Consolidated Financial Statements. The proposed final dividend is payable to all shareholders on the Register of Members on 22 April 2025 (2023: 19 April 2024). The total estimated final dividend to be paid is USD 2.6 million (2023: USD5.0 million). The payment of this final dividend will not have any tax consequences for the Group. New Risk • Mar 16
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 4.1% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Annuncio • Nov 21
Capital Appoints Graeme Dacomb as an Independent Non-Executive Director, Audit Committee as Chair, Member of the Nomination and Remuneration Committees, Effective 1 December 2024 Capital announced the appointment of Mr. Graeme Dacomb as an Independent Non-Executive Director, effective from 1 December 2024. Mr. Dacomb who is based in London will join the Company's Audit Committee as Chair, in addition to becoming a member of each of the Nomination and Remuneration Committees. Since 2019 Mr. Dacomb has served as a non-executive director (and chair of audit committee) on the Board of LSE-listed Ecora Resources plc. From 2019 to 2023 he was non-executive director (and chair of audit committee) of LSE-listed Ferrexpo plc, and from 2011 to 2018 Mr. Dacomb was a member of the financial reporting review panel. Before that Mr. Dacomb wasa partner at Ernst and Young for 26 years where, for his last twelve years, he was a lead partner in the extractive industry, responsible for coordinating the provision of a full suite of services to multinational mining and oil and gas clients, including Xstrata, Fresnillo, and BP, across a broad range of countries including emerging markets. In addition to audit services, he provided critical advice for his clients on corporate governance structures, risk management, acquisitions, disposals and financial systems and controls. Mr. Dacomb is considered to meet the requirements to be classified as an independent director under the UK Corporate Governance Code. Annuncio • Oct 17
Capital Limited Provides Revenue Guidance for the Fiscal Year 2024 Capital Limited provided revenue guidance for the fiscal year 2024. For the year, the company expects Revenue guidance for 2024 remains $355 million to $375 million. Board Change • Sep 18
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Anu Dhir was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Sep 11
Capital Limited Announces Board Changes Capital Limited announced that David Abery, Senior Independent Non-Executive Director of the Company, has passed away suddenly. Mr. Abery served as a member of the Board since October 2017 and was Chair of Audit & Risk and Nomination Committees. Michael Rawlinson, Independent Non-Executive Director, will assume the role of Interim Senior Independent Director. Further Board changes will be announced in due course. Declared Dividend • Aug 18
Final dividend of UK£0.013 announced Shareholders will receive a dividend of UK£0.013. Ex-date: 29th August 2024 Payment date: 3rd October 2024 Dividend yield will be 3.9%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by both earnings (20% earnings payout ratio) and cash flows (54% cash payout ratio). The dividend has increased by an average of 8.3% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 18% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annuncio • Jul 19
Capital Limited Provides Revenue Guidance for the Fiscal Year 2024 Capital Limited provided revenue guidance for the fiscal year 2024. For the year, the company expects Revenue guidance for 2024 remains $355 million to $375 million as guided at FY23 results. Upcoming Dividend • Apr 11
Upcoming dividend of US$0.026 per share Eligible shareholders must have bought the stock before 18 April 2024. Payment date: 15 May 2024. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (3.9%). Recent Insider Transactions • Mar 29
Executive Chairman recently bought €340k worth of stock On the 27th of March, Jamie Boyton bought around 317k shares on-market at roughly €1.07 per share. This transaction amounted to 1.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Jamie's only on-market trade for the last 12 months. New Risk • Mar 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.8% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 3.0% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (2.8% increase in shares outstanding). Declared Dividend • Mar 17
Final dividend of US$0.026 announced Shareholders will receive a dividend of US$0.026. Ex-date: 18th April 2024 Payment date: 15th May 2024 Dividend yield will be 3.7%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by both earnings (15% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 8.3% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to decline by 12% over the next 3 years. However, it would need to fall by 83% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Mar 14
Full year 2023 earnings released: EPS: US$0.19 (vs US$0.11 in FY 2022) Full year 2023 results: EPS: US$0.19 (up from US$0.11 in FY 2022). Revenue: US$318.4m (up 9.7% from FY 2022). Net income: US$36.7m (up 75% from FY 2022). Profit margin: 12% (up from 7.2% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 1.0% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. New Risk • Jan 23
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.8% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (9.5% net profit margin). Annuncio • Nov 15
Capital Appoints Anu Dhir as an Independent Non-Executive Director and Will Join the Company's Audit, Nomination, and Sustainability Committees as A Member Capital announced the appointment of Ms Anu Dhir as an Independent Non-Executive Director, effective 15 November 2023. Ms Dhir, who is based in Toronto, Canada, will join the Company's Audit, Nomination, and Sustainability Committees as a member of each. Ms Dhir currently serves as a non-executive director on the Board of TSX-listed Montage Gold Corp. and TSX/NYSE-listed Taseko Mines Limited.Over the last decade, Ms Dhir's board positions have included Lead Non-Executive Director for Lomiko Metals Inc., Non-Executive Director of Golden Star Resources Ltd, in addition to other Canadian listed companies. Ms Dhir has over 20 years' experience in the resources sector, most recently, as a co-founder and executive of ZinQ Mining, a private base and precious metals company which focuses on the Latin American Region. Prior to ZinQ Mining, Ms Dhir was Vice President, Corporate Development and Corporate Secretary at Katanga Mining Limited.Ms Dhir is co-founder of Wshingwell, a for-profit community relationship platform that allows individuals, communities and organizations to micro-fundraise around experiences and events. Ms Dhir is a graduate of the General Management Program (GMP) at Harvard Business School and has a law degree (Juris Doctor) from Quinnipiac University and a Bachelor of Arts (BA) from the University of Toronto. Ms Dhir is considered to meet the requirements to be classified as an independent director under the UK Corporate Governance Code. Annuncio • Oct 18
Capital Limited Provides Revenue Guidance for the Year 2023 Capital Limited provided revenue guidance for the year 2023. The company expects revenue guidance for 2023 remains $320 million to $340 million. Upcoming Dividend • Aug 24
Upcoming dividend of US$0.013 per share at 3.7% yield Eligible shareholders must have bought the stock before 31 August 2023. Payment date: 03 October 2023. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (8.6%). Annuncio • Aug 17
Capital Limited Proposes Interim Dividend, Payable on 3 October 2023 The directors of Capital Limited proposed that an interim dividend of 1.3 cents per share be paid to shareholders on 3 October 2023. The proposed dividend is payable to all shareholders on the Register of Members on 1 September 2023. The total estimated interim dividend to be paid is USD 2.5 million (2022: USD 2.5 million). Reported Earnings • Aug 17
First half 2023 earnings released: EPS: US$0.089 (vs US$0.047 in 1H 2022) First half 2023 results: EPS: US$0.089 (up from US$0.047 in 1H 2022). Revenue: US$154.3m (up 12% from 1H 2022). Net income: US$16.9m (up 92% from 1H 2022). Profit margin: 11% (up from 6.4% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 6% per year. Annuncio • Jul 21
Capital Limited Provides Revenue Guidance for the Year 2023 Capital Limited provided revenue guidance for the year 2023. For the year, the company expects Revenue of $320 million to $340 million. Recent Insider Transactions • Jun 30
CEO & Executive Director recently bought €57k worth of stock On the 28th of June, Peter Stokes bought around 50k shares on-market at roughly €1.15 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Peter's only on-market trade for the last 12 months. Board Change • May 26
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Cassie Boggs was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • May 19
Capital Limited Announces Board Changes Capital Limited held its AGM on May 18, 2023, the Board notes that the re-election of Alexander Davidson, 28.97% votes were recorded against his reappointment. The Board notes that Mr. Davidson is no longer considered independent in terms of provision 10 of the 2018 UK Corporate Governance Code ("the Code") due to the time he has served on the Capital board. With immediate effect Mr. Davidson will step down from the Audit, Remuneration and Nomination Committees and Cassie Boggs will be appointed to the Audit Committee. Following this, each one of the three governance committees will be comprised solely of independent non-executive directors. Upcoming Dividend • Apr 06
Upcoming dividend of US$0.026 per share at 3.3% yield Eligible shareholders must have bought the stock before 13 April 2023. Payment date: 09 May 2023. Payout ratio is a comfortable 35% and the cash payout ratio is 95%. Trailing yield: 3.3%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (8.5%). Reported Earnings • Mar 17
Full year 2022 earnings released: EPS: US$0.11 (vs US$0.37 in FY 2021) Full year 2022 results: EPS: US$0.11 (down from US$0.37 in FY 2021). Revenue: US$290.3m (up 28% from FY 2021). Net income: US$21.0m (down 70% from FY 2021). Profit margin: 7.2% (down from 31% in FY 2021). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Nov 01
Capital Limited Announces Executive Changes Capital Limited announced the appointment of Mr. Rick Robson as Chief Financial Officer ("CFO") following the departure of Mr. Giles Everist. Mr. Robson will replace Mr. Giles Everist with effect from 01 January 2023 and will work closely with Mr. Everist over the next two months to ensure an orderly transition. Mr. Robson is based in London and will report to Mr. Peter Stokes, Chief Executive Officer. Mr. Robson has been a member of Capital's senior management team since 2019 and is currently Head of Corporate Development & CFO of MSALABS. Over the last three years, Mr. Robson has led all the equity and debt financings entered into by the Group and, as CFO of MSALABS, has played a key role in delivering the division's growth through its strategic relationship with Chrysos Corporation. Mr. Robson has over 20 years of experience across corporate finance, M&A advisory and operational finance. Mr. Robson is a Chartered Accountant having trained at Deloitte. Prior to joining Capital, Mr. Robson was the CFO of a project development company with several greenfield assets in Colombia where he developed and ran the finance function. He was also formerly an investment banker with Barclays where he was focused on the mining sector. Annuncio • Oct 18
Capital Limited Revises Revenue Guidance for the Year 2022 Capital Limited revised revenue guidance for the year 2022. Revenue guidance for 2022 remains $280 million to $290 million (upgraded from $270 million to $280 million at the first half of 2022 results). Upcoming Dividend • Aug 25
Upcoming dividend of US$0.013 per share Eligible shareholders must have bought the stock before 01 September 2022. Payment date: 03 October 2022. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (3.9%). Reported Earnings • Aug 18
First half 2022 earnings released: EPS: US$0.047 (vs US$0.098 in 1H 2021) First half 2022 results: EPS: US$0.047 (down from US$0.098 in 1H 2021). Revenue: US$138.1m (up 40% from 1H 2021). Net income: US$8.85m (down 52% from 1H 2021). Profit margin: 6.4% (down from 19% in 1H 2021). Over the next year, revenue is forecast to grow 9.8%, compared to a 14% growth forecast for the Energy Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improved over the past week After last week's 20% share price gain to €1.19, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Energy Services industry in Europe. Total returns to shareholders of 129% over the past three years. Annuncio • Jul 19
Capital Limited to Report First Half, 2022 Results on Aug 18, 2022 Capital Limited announced that they will report first half, 2022 results on Aug 18, 2022 Annuncio • Apr 21
Capital Limited Provides Revenue Guidance for 2022 Capital Limited provided revenue guidance for 2022. Revenue remains $270 to $280 million (compared to FY2021 revenues of $226.8 million). Buying Opportunity • Apr 20
Now 20% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be €1.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 58%. For the next 3 years, revenue is forecast to grow by 2.9% per annum. Earnings is forecast to decline by 22% per annum over the same time period. Upcoming Dividend • Mar 31
Upcoming dividend of US$0.024 per share Eligible shareholders must have bought the stock before 07 April 2022. Payment date: 10 May 2022. Payout ratio is a comfortable 9.7% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (3.7%). Lower than average of industry peers (3.5%). Annuncio • Mar 31
Capital Limited, Annual General Meeting, Apr 28, 2022 Capital Limited, Annual General Meeting, Apr 28, 2022, at 09:00 Coordinated Universal Time. Location: at The CORE Building, 9th Floor Ebène Cybercity Mauritius Agenda: To receive and adopt the directors' report and accounts for the year ended 31 December 2021; to receive and approve the directors' remuneration report for the year ended 31 December 2021; to consider the re-election of directors of the company; to re-appoint BDO LLP as the company's auditor; to authorize the Directors to agree the auditor's remuneration; to consider the unconditionally authorized to allot and issue Equity Securities up to an aggregate nominal amount of USD 6,357.39; and to consider the other matters. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 16% share price gain to €1.19, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Energy Services industry in Europe. Total returns to shareholders of 126% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.88 per share. Reported Earnings • Mar 11
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$0.37 (up from US$0.18 in FY 2020). Revenue: US$226.8m (up 68% from FY 2020). Net income: US$70.2m (up 186% from FY 2020). Profit margin: 31% (up from 18% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 18%, compared to a 22% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Board Change • Nov 01
High number of new directors Independent Non-Executive Director Cassie Boggs was the last director to join the board, commencing their role in 2021. Board Change • Sep 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Michael Rawlinson was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Aug 26
Upcoming dividend of US$0.012 per share Eligible shareholders must have bought the stock before 02 September 2021. Payment date: 01 October 2021. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (4.6%). Reported Earnings • Aug 21
First half 2021 earnings released: EPS US$0.098 (vs US$0.10 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were weaker. First half 2021 results: Revenue: US$98.7m (up 52% from 1H 2020). Net income: US$18.5m (up 35% from 1H 2020). Profit margin: 19% (down from 21% in 1H 2020). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improved over the past week After last week's 25% share price gain to US$1.04, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 10x in the Energy Services industry in Europe. Total returns to shareholders of 162% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.32 per share. Annuncio • Jul 15
Capital Limited Revises Revenue Guidance for the Fiscal Year 2021 Capital Limited revised revenue guidance for the fiscal year 2021. Revenue guidance for 2021 is raised to $200-210 million compared to $185-195 million originally guided at the fiscal year 2020 results. Annuncio • Apr 15
Capital Limited Reiterates Revenue Guidance for 2021 Capital Limited reiterated revenue guidance for 2021. Revenue guidance for 2021 remains $185 to $195 million (compared to FY2020 revenues of $135 million), driven by higher drill rig utilisation, new contracts and contract extensions and the commencement of the load and haul waste mining contract at Sukari, Egypt. Upcoming Dividend • Apr 01
Upcoming dividend of US$0.013 per share Eligible shareholders must have bought the stock before 08 April 2021. Payment date: 04 May 2021. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (3.3%). In line with average of industry peers (3.2%). Recent Insider Transactions • Mar 26
Executive Chairman & CEO recently bought €170k worth of stock On the 24th of March, Jamie Boyton bought around 225k shares on-market at roughly €0.75 per share. This was the largest purchase by an insider in the last 3 months. This was Jamie's only on-market trade for the last 12 months. Reported Earnings • Mar 20
Full year 2020 earnings released: EPS US$0.18 (vs US$0.077 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$135.0m (up 18% from FY 2019). Net income: US$24.6m (up 136% from FY 2019). Profit margin: 18% (up from 9.1% in FY 2019). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Annuncio • Mar 19
Capital Limited Provides Revenue Guidance for 2021 Capital Limited provided revenue guidance for 2021. Revenue guidance for 2021 of $185 to $195 million driven by improving drill rig utilization, contract extensions and expansions from existing long-term contracts and the commencement of the load and haul waste stripping contract at Sukari, Egypt. Executive Departure • Mar 03
CFO & Company Secretary has left the company On the 1st of March, Andre Koekemoer's tenure as CFO & Company Secretary ended after 3.2 years in the role. We don't have any record of a personal shareholding under Andre's name. Andre is the only executive to leave the company over the last 12 months. Annuncio • Jan 21
Capital Limited Announces Appointment of Chief Financial Officer Capital Limited announced the appointment of Giles Everist to the role of Chief Financial Officer, commencing 1 March 2021. Mr. Everist will replace André Koekemoer, who has resigned to return to South Africa for personal reasons. Annuncio • Jan 14
Capital Limited to Report Fiscal Year 2020 Results on Mar 18, 2021 Capital Limited announced that they will report fiscal year 2020 results on Mar 18, 2021 Is New 90 Day High Low • Dec 22
New 90-day low: €0.62 The company is down 21% from its price of €0.78 on 22 September 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Energy Services industry, which is up 36% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.54 per share. Is New 90 Day High Low • Nov 06
New 90-day low: €0.63 The company is down 17% from its price of €0.76 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Energy Services industry, which is down 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.65 per share. Annuncio • Jul 17
Capital Limited to Report First Half, 2020 Results on Aug 20, 2020 Capital Limited announced that they will report first half, 2020 results on Aug 20, 2020 
