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Capital
Capital (CAPD) investor relations material
Capital Q4 2025 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 TU earnings summary20 Jan, 2026
Executive summary
Delivered strong FY 2025 finish, with group and MSALABS revenues at the upper end of revised guidance.
Record annual performance at MSALABS, driven by new labs and improved utilisation.
Reko Diq mining contract ramping up, with full earnings contribution expected from H2 2026.
Benefiting from record commodity prices and increased customer exploration and capex spend.
Financial highlights
FY 2025 group revenue: $345.8M, down 0.6% year-over-year, but at the upper end of revised guidance.
FY 2025 MSALABS revenue: $73.5M, up 68.2% year-over-year.
Q4 2025 group revenue: $92.7M, down 1.3% sequentially, up 9.2% year-over-year.
Q4 2025 drilling revenue: $60.2M, down 7.5% sequentially, down 4.3% year-over-year.
Q4 2025 mining revenue: $10.9M, up 39.7% sequentially, up 13.5% year-over-year.
Q4 2025 MSALABS revenue: $21.6M, up 2.9% sequentially, up 74.2% year-over-year.
Outlook and guidance
Group revenue guidance for 2026 to be provided at FY 2025 results.
Strong momentum expected to continue in 2026, supported by multi-year contracts and growth pipelines.
Improving MSALABS performance, Reko Diq ramp-up, and consistent drilling execution to drive growth.
Positioned to benefit from record commodity prices and increased capital markets activity.
Reconcile Q4 drilling dip with FY25 success
MSALABS growth drivers beyond new labs
Investment portfolio's strategic contribution?
Partial view of Summaries dataset, powered by Quartr API
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Next Capital earnings date
H2 202513 Mar, 2026
Capital
Next Capital earnings date
H2 202513 Mar, 2026
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Frequently asked questions
Capital Limited is a mining services company based in the United Kingdom, specializing in providing comprehensive solutions to the minerals industry, with a strong focus on African markets. The company operates through several business units, including Capital Drilling, Capital Mining, MSALABS, and Capital Investments. Their services encompass drilling, mining operations, equipment maintenance, and geochemical laboratory services, supporting various stages of the mining cycle from exploration to production. The company is headquartered in London, UK, and its shares are listed on the LSE.
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