Business
Q2 2023 Trading Update
Q2 2023 Trading Update.
About this update from Capital Limited
[{"type":"text","content":"\n\nCapital Limited\n(\"Capital\", the \"Group\" or the \"Company\")\n \nQ2 2023 Trading Update\n \nCapital (LSE: CAPD), a leading mining services company, today provides its trading update for the period 1 April to 30 June 2023 (the \"Period\").\n \nFIRST HALF (H1) 2023 KEY METRICS\n\n\n\n \n\n\nH1 2023\n\n\nH1 2022\n\n\n vs\n H1 2022\n\n\nH2 2022\n\n\nvs\nH2 2022\n\n\n\n\nRevenue ($m)\n\n\n154.3\n\n\n138.1\n\n\n11.7%\n\n\n152.2\n\n\n1.4%\n\n\n\n\nARPOR# ($)\n\n\n188,000\n\n\n173,000\n\n\n8.7%\n\n\n187,000\n\n\n0.5%\n\n\n\n\nAverage Utilised Rigs\n\n\n93\n\n\n93\n\n\n0.0%\n\n\n93\n\n\n0.0%\n\n\n\n\nFleet Utilisation (%)\n\n\n75\n\n\n83\n\n\n-9.6%\n\n\n75\n\n\n0.0%\n\n\n\n\nAverage Fleet\n\n\n124\n\n\n112\n\n\n10.7%\n\n\n124\n\n\n0.0%\n\n\n\n\nClosing Fleet Size\n\n\n125\n\n\n116\n\n\n7.8%\n\n\n129\n\n\n-3.1%\n\n\n\n \n \nSECOND QUARTER (Q2) 2023 KEY METRICS\n\n\n\n \n\n\nQ2 2023\n\n\nQ2 2022\n\n\n vs\n Q2 2022\n\n\nQ1 2023\n\n\nvs\nQ1 2023\n\n\n\n\nRevenue ($m)\n\n\n76.5\n\n\n71.2\n\n\n7.4%\n\n\n77.8\n\n\n-1.7%\n\n\n\n\nARPOR# ($)\n\n\n183,000\n\n\n171,000\n\n\n7.0%\n\n\n192,000\n\n\n-4.7%\n\n\n\n\nAverage Utilised Rigs\n\n\n90\n\n\n97\n\n\n-7.2%\n\n\n95\n\n\n-5.3%\n\n\n\n\nFleet Utilisation (%)\n\n\n73\n\n\n85\n\n\n-14.1%\n\n\n77\n\n\n-5.2%\n\n\n\n\nAverage Fleet\n\n\n124\n\n\n114\n\n\n8.8%\n\n\n123\n\n\n0.8%\n\n\n\n\nClosing Fleet Size\n\n\n125\n\n\n116\n\n\n7.8%\n\n\n123\n\n\n1.6%\n\n\n\nAll amounts are in USD unless otherwise stated\n# Average revenue per month per operating rig\n* Unaudited numbers\n \n \nFinancial Highlights\n· Revenue US$76.5 million, a 7.4% increase on Q2 2022 (US$71.2 million) and a 1.7% decrease on Q1 2023 (US$77.8 million);\n· Three high-quality contracts are set to commence in Q3 2023:\n- The business is geared for a strong second half driven by the ramp up of three high quality contracts, namely drilling at the Ivindo Iron Ore Project (\"Ivindo\"), Gabon, and the Reko Diq copper-gold project, Pakistan, and our recently announced mining services and crushing contract at Ivindo Iron ore.\n· Temporary shutdown of operations at Perseus Mining's Meyas Sand Gold Project, Sudan:\n- ...