Caledonia Investments plc (CLDN) Q4 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.257 Well, morning, everybody. I'm Matt Masters, CEO of Caledonia Investments, 00:00:05.257 -- 00:00:10.482 and myself and my colleague, Rob Emmett, our Chief Financial Officer, will take you through 00:00:10.482 -- 00:00:14.284 the results for a full year to March 2025. 00:00:14.447 -- 00:00:19.812 Now, we're a long-term investment business, so we'll balance this results presentation 00:00:19.812 -- 00:00:24.477 by providing you information for the year, as well as a reminder of the strategy and 00:00:24.477 -- 00:00:27.098 our longer-term performance. 00:00:28.141 -- 00:00:31.142 Important cautionary statement. 00:00:31.267 -- 00:00:36.275 And then I'll bring out the key features of Caledonia that 00:00:36.275 -- 00:00:40.498 make it a really great place to do long-term investing. 00:00:40.822 -- 00:00:46.350 The first area is that we're a self-managed investment company, 00:00:46.350 -- 00:00:52.099 meaning all the investments and all the funds are selected by our in-house team. 00:00:52.099 -- 00:00:56.506 And that means they're only working for our shareholders and they are wholly aligned 00:00:56.506 -- 00:00:58.687 with them. 00:00:58.756 -- 00:01:00.258 We're 00:01:00.258 -- 00:01:05.285 targeting absolute returns, so long-term compounding returns, 00:01:05.285 -- 00:01:11.231 aiming to keep NAV per share and dividend per share ahead of inflation. 00:01:11.474 -- 00:01:16.241 Now, despite elevated inflation in recent years, we have managed to keep pace with it, 00:01:16.241 -- 00:01:20.307 and our track record shows that over the longer term, we have managed to exceed this 00:01:20.307 -- 00:01:23.889 target by some margin. 00:01:25.250 -- 00:01:30.260 The company traces its history back to the Caser family's shipping business, ...