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Braemar (BMS) investor relations material
Braemar H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Delivered robust FY2025 results with revenue of £141.9m, down 7% year-over-year, and underlying profit before tax of £16.7m, £1.4m lower than prior year due to weaker second half tanker performance, partially offset by investment advisory growth.
Maintained operating margin at 12% despite revenue decline; statutory profit rose 23% to £9.2m due to lower specific costs.
Achieved robust financial performance despite macro headwinds, with diversification supporting resilience and growth.
Strategic framework launched, targeting £200m group revenue and 15% operating margin by FY30.
Returned to net cash position shortly after year end, maintaining total shareholder returns.
Financial highlights
FY25 revenue £141.9m, down 7% year-over-year; underlying operating profit £16.7m, down 7%, margin steady at 12%.
Statutory profit before tax £9.2m, up 23% year-over-year due to lower specific costs.
Net debt at year-end was £2.5m due to temporary working capital movements, but returned to net cash in March.
Final dividend reduced to 2.5p; total dividend 7p for the year; £2m share buyback announced to maintain shareholder returns.
Forward order book remains strong at $82.2m.
Outlook and guidance
FY2026 underlying operating profit expected between £13m and £14m, reflecting ongoing uncertainty and weak USD.
Strategic targets include £200m group revenue, £30m risk advisory revenue, and 15% operating margin by FY30.
Market fundamentals remain strong; well positioned for future opportunities despite short-term headwinds.
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