Capital Limited have declared an interim dividend of 1.3 cents per share, to be paid on 3 October 2022 to shareholders registered on 2 September 2022 (up 8.3% on 2021 interim dividend 1.2 cents per share).
Other financial highlights include:
H1 2022 revenue of $138.1 million, up 39.9% on H1 2021 ($98.7 million);
Full year revenue guidance increased to $280 - $290 million (from $270 - 280 million);
Non-drilling revenue contributed 28% of total revenue for H1 2022, compared with H1 2021 (17%), driven by growth YoY in mining services and MSALABS;
H1 2022 EBITDA of $41.4 million, up 45.8% on H1 2021 ($28.4 million);
EBITDA margins increased to 30.0% from 28.8% in H1 2021;
Net losses from equity investments of $10.3 million in H1 2022 (unrealised), decreasing the value of Group strategic investments to $47.3 million, net of cash proceeds, as of 30 June 2022 (31 December 2021: $60.2 million);
Adjusted Net Profit After Tax (NPAT) $19.9 million (adjusted for changes in investments), an increase of 56.7% on H1 2021 ($12.7 million);
Capex of $22.6 million (H1 2021: $35.0 million) including prepayments and financed capex;
Cash generated from operations of $34.9 million (H1 2021: $5.4 million), a significant increase YoY and stronger cash conversion despite a further build in working capital with inventory of $51.5 million, up 35% on FY21 ($37.9 million) to accommodate larger revenues and supply chain constraints;
Net debt of $36.4 million (H1 2021: $32.8 million and year end 2021 $31.9 million);
Adjusted Net cash (including investments) of $10.9 million (H1 2021: adjusted net debt (including investments) of $1.8 million);
