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Litigation Capital Management (LIT) investor relations material
Litigation Capital Management H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Reported unprecedented investment losses for the year ended 30 June 2025, marking a significant deviation from a historically strong 14-year track record.
Shifted strategic focus to active case management, downsized team, and halted new investments to concentrate on existing portfolio.
Engaged Luminis Partners to explore strategic options, including potential mergers, acquisitions, or a go-private transaction.
CEO is returning to hands-on investment management to restore historical performance.
Cleared of all allegations in a Dubai investigation, which had previously delayed strategic initiatives.
Financial highlights
12 investments concluded: 6 wins and 6 losses, generating AUD 50 million in revenue and a 1.8x multiple of invested capital.
Large negative fair value movement of AUD 100 million, driven by adverse case outcomes and more conservative valuation.
Net loss for FY25 was AUD 72.9 million, compared to a net profit of AUD 12.7 million in FY24.
Net assets at period end were AUD 114 million (approx. 50p per share), expected to fall to 25–30p per share after further write-downs.
Cash declined from AUD 53 million to AUD 8.9 million over the year.
Outlook and guidance
Focused on managing existing investments to profitable conclusion and reducing debt.
Strategic review underway, with all options on the table, benchmarked against a run-off scenario.
Expectation of modest new commitments and further reduction in operating expenses.
Confident in 18-month timeline for GreenX/Poland award enforcement, with low probability of both set-aside challenges succeeding.
Positive engagement with lenders and commitment to restoring shareholder value.
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