REG - Burford Capital Ltd - Annual Results for Year Ended December 31, 2025

Burford CapitalAnnouncement

26/02/2026 13:00

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RNS Number : 5596U  Burford Capital Limited  26 February 2026

 

 

February 26, 2026

 

 

Burford Reports 4Q25 and FY25 Financial Results

 

Burford Capital Limited ("Burford"), the leading global finance and asset
management firm focused on law, today announces its financial results for the
three months ended December 31, 2025 ("4Q25") and the year ended December 31,
2025 ("FY25"). The full detailed presentation of Burford's 4Q25 and FY25
financial results, as well as a shareholder letter and detailed portfolio data
table, can be viewed at http://investors.burfordcapital.com
(http://investors.burfordcapital.com) . The 4Q25 and FY25 financial results
presentation is also available at
http://www.rns-pdf.londonstockexchange.com/rns/5596U_1-2026-2-26.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/5596U_1-2026-2-26.pdf) .

 

Burford has filed its Annual Report on Form 10-K for the year ended December
31, 2025, including its audited consolidated financial statements (the "2025
Form 10-K"), with the US Securities and Exchange Commission. The 2025 Form
10-K can be viewed at http://investors.burfordcapital.com
(http://investors.burfordcapital.com) and is also available at
http://www.rns-pdf.londonstockexchange.com/rns/5596U_2-2026-2-26.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/5596U_2-2026-2-26.pdf) .

 

On February 25, 2026, Burford's board of directors declared a final dividend
for the year ended December 31, 2025 of $0.0625 per ordinary share to be paid,
subject to shareholder approval at the 2026 annual general meeting, on June
12, 2026 to shareholders of record on May 22, 2026.

 

Christopher Bogart, Burford Capital's Chief Executive Officer, commented:

"We had a terrific 2025 for new business, with new definitive commitments up
39%. Portfolio modeled realizations(1) increased $700 million to $5.2 billion
at year end. In the part of our business where we have less influence - case
progress and realizations - we brought in a substantial amount of cash, but
our results were impacted by extended case durations and other unrealized fair
value adjustments. The quality of the portfolio remains high, and we believe
the future is bright in terms of growing the business and the potential for
asymmetric upside value for shareholders."

 

Burford will hold a conference call for investors and analysts at 9.00am EST /
2.00pm GMT on Thursday, February 26, 2026. For swift access to the conference
call at the time of the event, pre-registration is encouraged at
https://registrations.events/direct/Q4I740130
(https://registrations.events/direct/Q4I740130) . The dial-in numbers for the
conference call are +1 (646) 307-1951 (USA) or +1 (888) 500-3691 (USA &
Canada toll free) / +44 (0)20 8610 3526 (UK) or +44 800 524 4258 (UK toll
free), and the access code is 74013. To minimize the risk of delayed access,
participants are urged to dial into the conference call by 8.40am EST / 1.40pm
GMT.

 

A live audio webcast and replay will also be available at
https://events.q4inc.com/attendee/657000184
(https://events.q4inc.com/attendee/657000184) , and pre-registration at that
link is encouraged.

 

 (1) Modeled realizations reflect expected future realizations from capital
 provision assets (excluding YPF-related assets) based on probabilistic
 modeling of portfolio and adjusted by an experience factor based on historical
 modeling accuracy rates. Modeled realizations calculation is derived from
 Burford's internal modeling of individual matters and of Burford's portfolio
 as a whole. These data are not a forecast of future results. See
 "Forward-looking statements", "Estimates and assumptions" and "Key performance
 indicators" for more information. See the full detailed presentation of
 Burford's 4Q25 and FY25 financial results for information on how modeled
 realizations are calculated.

 

 

For further information, please contact:

 

 Burford Capital Limited
 For investor and analyst inquiries:
 Americas: Josh Wood, Head of Investor Relations - email                       +1 212 516 5824
 (mailto:jwood@burfordcapital.com)
 EMEA & Asia: Rob Bailhache, Head of EMEA & Asia Investor Relations -          +44 (0)20 3530 2023
 email (mailto:rbailhache@burfordcapital.com)
 For press inquiries:
 David Helfenbein, Senior Vice President, Public Relations - email             +1 646 504 7074
 (mailto:media@burfordcapital.com)

 Deutsche Numis - NOMAD and Joint Broker                                       +44 (0)20 7545 8000
 Duncan Monteith
 Charlie Farquhar

 BofA Securities - Joint Broker                                                +44 (0)20 7628 1000
 Peter Luck
 David Lloyd

 Jefferies International Limited - Joint Broker                                +44 (0)20 7029 8000
 Graham Davidson
 James Umbers

 Berenberg - Joint Broker                                                      +44 (0)20 3207 7800
 Toby Flaux
 James Thompson

About Burford Capital

 

Burford Capital is the leading global finance and asset management firm
focused on law. Its businesses include litigation finance
(https://www.burfordcapital.com/) and risk management, asset recovery and a
wide range of legal finance and advisory activities. Burford is publicly
traded on the New York Stock Exchange (NYSE: BUR) and the London Stock
Exchange (LSE: BUR) and works with companies and law firms around the world
from its global network of offices.

 

For more information, please visit www.burfordcapital.com
(http://www.burfordcapital.com) .

 

 

This press release does not constitute an offer to sell or the solicitation of
an offer to buy any ordinary shares or other securities of Burford.

 

This press release does not constitute an offer of any Burford private fund.
Burford Capital Investment Management LLC, which acts as the fund manager of
all Burford private funds, is registered as an investment adviser with the
US Securities and Exchange Commission. The information provided in this press
release is for informational purposes only. Past performance is not indicative
of future results. The information contained in this press release is not, and
should not be construed as, an offer to sell or the solicitation of an offer
to buy any securities (including interests or shares in any of Burford private
funds). Any such offer or solicitation may be made only by means of a final
confidential private placement memorandum and other offering documents.

 

Forward-looking statements

 

This press release contains "forward-looking statements" within the meaning of
Section 27A of the US Securities Act of 1933, as amended, and Section 21E of
the US Securities Exchange Act of 1934, as amended, including Burford's target
metrics and projections, such as modeled realizations, that are intended to be
covered by the safe harbor provided for under these sections. In some cases,
words such as "aim", "anticipate", "believe", "continue", "could", "estimate",
"expect", "forecast", "guidance", "intend", "may", "plan", "potential",
"predict", "projected", "should" or "will", or the negative of such terms or
other comparable terminology, are intended to identify forward-looking
statements. Although Burford believes that the assumptions, expectations,
projections, intentions and beliefs about future results and events reflected
in forward-looking statements have a reasonable basis and are expressed in
good faith, forward-looking statements involve known and unknown risks,
uncertainties and other factors, which could cause Burford's actual results
and events to differ materially from (and be more negative than) future
results and events expressed, projected or implied by these forward-looking
statements. Factors that might cause future results and events to differ
include, among others, those discussed in the "Risk Factors" section of
Burford's Annual Report on Form 10-K for the year ended December 31, 2025
filed with the US Securities and Exchange Commission on February 26, 2026.
These factors should not be construed as exhaustive and should be read in
conjunction with the other cautionary statements contained in the periodic and
current reports that Burford files with or furnishes to the US Securities and
Exchange Commission. Many of these factors are beyond Burford's ability to
control or predict, and new factors emerge from time to time. Furthermore,
Burford cannot assess the impact of each such factor on its business or the
extent to which any factor or combination of factors may cause actual results
and events to be materially different from those contained in any
forward-looking statement. Given these uncertainties, readers are cautioned
not to place undue reliance on Burford's forward-looking statements.

 

All subsequent written and oral forward-looking statements attributable to
Burford or to persons acting on its behalf are expressly qualified in their
entirety by these cautionary statements. The forward-looking statements speak
only as of the date of this press release and, except as required by
applicable law, Burford undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.

 

In addition to forward-looking statements, this press release includes certain
data, such as modeled realizations, based on calculations derived from
Burford's probabilistic modeling of individual matters and its portfolio as a
whole. This data is not a forecast of future results, and past performance is
not a guide to future performance. The inherent volatility and
unpredictability of legal finance assets precludes forecasting and limits the
predictive nature of Burford's probabilistic model. Furthermore, the inherent
nature of the probabilistic model is that actual results will differ from the
modeled results, and such differences could be material. The data based on
calculations derived from Burford's probabilistic model contained in this
press release is for informational purposes only and is not intended to be a
profit forecast or be relied upon as a guide to future performance.

 

Estimates and assumptions

 

This press release includes certain unaudited financial and business
projections, targets and goals with respect to Burford's future outlook
(collectively, the "Estimates"). The Estimates reflect subjective judgment in
many respects and thus are susceptible to multiple interpretations and
periodic revisions based on actual experience and business developments. As
such, the Estimates constitute forward-looking information and are subject to
many risks and uncertainties that could cause actual results to differ
materially from the results forecasted in these projections, targets or goals.
There can be no assurance that the Estimates will be realized or that actual
results will not be materially higher or lower than forecast. The Estimates
cannot, therefore, be considered a guarantee of future results of operations,
and this information should not be relied upon as such. The inclusion of the
Estimates in this press release should not be regarded as an indication that
Burford or any of its affiliates, officers, directors, employees or
representatives considered or considers the Estimates to be necessarily
predictive of actual future events, and the Estimates should not be relied
upon as such. The inclusion of the Estimates herein should not be deemed an
admission or representation by Burford that its management views the Estimates
as material information. Neither Burford nor any of its affiliates, officers,
directors, employees or representatives has made or makes any representation
to any of Burford's shareholders or any other person regarding the ultimate
performance of Burford compared to the information contained in the Estimates
or can give any assurance that actual results will not differ materially from
the Estimates. BURFORD DOES NOT UNDERTAKE ANY OBLIGATION TO UPDATE OR
OTHERWISE REVISE OR RECONCILE THE ESTIMATES TO REFLECT CIRCUMSTANCES EXISTING
AFTER THE DATE THE ESTIMATES WERE GENERATED OR TO REFLECT THE OCCURRENCE OF
FUTURE EVENTS, EVEN IN THE EVENT THAT ANY OR ALL OF THE ASSUMPTIONS UNDERLYING
THE ESTIMATES ARE NO LONGER APPROPRIATE OR ARE SHOWN TO BE IN ERROR, EXCEPT AS
MAY BE REQUIRED BY APPLICABLE LAW.

 

Key performance indicators

 

Burford uses certain unaudited key performance indicators ("KPIs"). The KPIs
are presented because Burford uses them to monitor its financial condition and
results of operations and/or Burford believes they are useful to investors,
securities analysts and other interested parties. The presentation of the KPIs
is for informational purposes only and does not purport to present what
Burford's actual financial condition or results of operations would have been,
nor does it project its financial condition at any future date or its results
of operations for any future period. The presentation of the KPIs is based on
information available as of the date of this press release and certain
assumptions and estimates that Burford believes are reasonable.

 

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