Burford Announces Date for Release of 4Q24 and FY24 Financial Results and Previews Changes to Financial Reporting Framework
Burford Capital has announced it will release its Q4 2024 and FY 2024 financial results on March 3, 2025, at 7:00am EST. The company is implementing changes to its financial reporting framework as it transitions to becoming a US domestic issuer from January 1, 2025.
The company is enhancing its 'Burford-only' reporting with two new segments: Principal Finance (covering legal finance portfolio funded by balance sheet) and Asset Management and Other Services (covering fee income from private funds and service-related operations). The sum of these segments will be called 'Total Segments'.
As a US domestic issuer, Burford will now file periodic reports on Form 10-K and 10-Q, current reports on Form 8-K, comply with US proxy requirements, and meet shorter filing timelines applicable to large accelerated filers.
Burford Capital ha annunciato che rilascerà i risultati finanziari del Q4 2024 e dell'anno fiscale 2024 il 3 marzo 2025, alle 7:00 EST. L'azienda sta implementando cambiamenti nel suo quadro di reporting finanziario mentre si sta trasferendo per diventare un emittente domestico statunitense a partire dal 1 gennaio 2025.
L'azienda sta migliorando il suo reporting 'solo Burford' con due nuovi segmenti: Finanza Principale (che copre il portafoglio di finanziamenti legali finanziati dal bilancio) e Gestione degli Asset e Altri Servizi (che copre i ricavi da commissioni provenienti da fondi privati e operazioni legate ai servizi). La somma di questi segmenti sarà chiamata 'Segmenti Totali'.
Come emittente domestico statunitense, Burford ora presenterà rapporti periodici sul Modulo 10-K e 10-Q, rapporti correnti sul Modulo 8-K, si conformerà ai requisiti di delega statunitensi e rispetterà scadenze di presentazione più brevi applicabili ai grandi emittenti accelerati.
Burford Capital ha anunciado que publicará sus resultados financieros del Q4 2024 y del año fiscal 2024 el 3 de marzo de 2025, a las 7:00 am EST. La compañía está implementando cambios en su marco de informes financieros mientras se transforma en un emisor doméstico de EE. UU. a partir del 1 de enero de 2025.
La compañía está mejorando su informe 'solo Burford' con dos nuevos segmentos: Finanzas Principales (que cubre el portafolio de financiamiento legal financiado por el balance) y Gestión de Activos y Otros Servicios (que cubre los ingresos por comisiones de fondos privados y operaciones relacionadas con servicios). La suma de estos segmentos se llamará 'Segmentos Totales'.
Como emisor doméstico de EE. UU., Burford ahora presentará informes periódicos en el Formulario 10-K y 10-Q, informes actuales en el Formulario 8-K, cumplirá con los requisitos de poder de EE. UU. y cumplirá con plazos de presentación más cortos aplicables a los grandes emisores acelerados.
버포드 캐피탈은 2025년 3월 3일 오전 7시 EST에 2024년 4분기 및 2024 회계연도 재무 결과를 발표할 것이라고 발표했습니다. 이 회사는 2025년 1월 1일부터 미국 국내 발행자로 전환하면서 재무 보고 프레임워크에 변화를 도입하고 있습니다.
회사는 주요 금융 (재무제표에서 자금을 지원하는 법률 금융 포트폴리오를 포함) 및 자산 관리 및 기타 서비스 (사모펀드 및 서비스 관련 작업에서 발생하는 수수료 수익을 포함)라는 두 개의 새로운 세그먼트로 '버포드 전용' 보고를 강화하고 있습니다. 이러한 세그먼트의 합계는 '총 세그먼트'라고 불릴 것입니다.
미국 국내 발행자로서 버포드는 이제 10-K 및 10-Q 양식의 정기 보고서를 제출하고, 8-K 양식의 현재 보고서를 제출하며, 미국 위임 요구 사항을 준수하고, 대규모 가속 발행자에게 적용되는 더 짧은 제출 기한을 준수할 것입니다.
Burford Capital a annoncé qu'il publiera ses résultats financiers du T4 2024 et de l'exercice 2024 le 3 mars 2025 à 7h00 EST. L'entreprise met en œuvre des changements dans son cadre de reporting financier alors qu'elle passe à un émetteur domestique américain à partir du 1er janvier 2025.
L'entreprise améliore son reporting 'Burford uniquement' avec deux nouveaux segments : Financement Principal (couvrant le portefeuille de financement juridique financé par le bilan) et Gestion d'Actifs et Autres Services (couvrant les revenus de frais provenant de fonds privés et d'opérations liées aux services). La somme de ces segments sera appelée 'Segments Totaux'.
En tant qu'émetteur domestique américain, Burford déposera désormais des rapports périodiques sur le formulaire 10-K et 10-Q, des rapports courants sur le formulaire 8-K, se conformera aux exigences de procuration américaines et respectera des délais de dépôt plus courts applicables aux grands émetteurs accélérés.
Burford Capital hat angekündigt, dass es seine Finanzzahlen für das 4. Quartal 2024 und das Geschäftsjahr 2024 am 3. März 2025 um 7:00 Uhr EST veröffentlichen wird. Das Unternehmen implementiert Änderungen an seinem finanziellen Berichtswesen, da es ab dem 1. Januar 2025 zu einem inländischen Emittenten in den USA wird.
Das Unternehmen verbessert sein 'Burford-eigenes' Reporting mit zwei neuen Segmenten: Hauptfinanzierung (das das rechtliche Finanzierungsportfolio abdeckt, das durch die Bilanz finanziert wird) und Vermögensverwaltung und andere Dienstleistungen (das die Gebühreneinnahmen aus privaten Fonds und servicebezogenen Operationen abdeckt). Die Summe dieser Segmente wird als 'Gesamtsegmente' bezeichnet.
Als US-inländischer Emittent wird Burford nun regelmäßige Berichte im Formular 10-K und 10-Q, aktuelle Berichte im Formular 8-K einreichen, die US-Proxy-Anforderungen erfüllen und kürzere Einreichungsfristen einhalten, die für große beschleunigte Einreicher gelten.
- Enhanced transparency through new segmented reporting structure
- Streamlined financial reporting framework for better clarity
- Broader market access through US domestic issuer status
- Shorter filing deadlines as US domestic issuer (40 days for quarterly, 60 days for annual reports)
- Increased regulatory compliance requirements
Burford will hold a conference call for investors and analysts at 10.00am EST / 3.00pm GMT on Monday, March 3, 2025. For swift access to the conference call at the time of the event, pre-registration is encouraged at https://registrations.events/direct/Q4I37665972. The dial-in numbers for the conference call are +1 (646) 307-1963 (
A live audio webcast and replay will also be available at https://events.q4inc.com/attendee/169138797, and pre-registration at that link is encouraged.
An accompanying 4Q24 and FY24 results presentation for investors and analysts will be made available on Burford's website prior to the conference call at http://investors.burfordcapital.com.
Preview of changes to financial reporting framework
Burford has always focused on providing disclosure that represents what shareholders actually own, which is reflected in the "Burford-only" basis of financial reporting. "Burford-only" reporting removes the impact of private fund entities that must be consolidated under accounting standards, even though economic ownership resides with a third party.
Beginning with the upcoming reporting for 4Q24 and FY24 financial results, the Burford-only disclosure will be enhanced with a more prominent use of segment reporting through two reportable segments: (i) "Principal Finance" (which captures the financial impact of the legal finance portfolio funded by Burford's balance sheet) and (ii) "Asset Management and Other Services" (which captures fee income from Burford's private funds funded by third-party capital and income earned from other service-related operations). Under US reporting standards, the use of segment reporting allows for more efficient and helpful disclosure on the key metrics that illuminate how Burford generates shareholder value in each segment.
The sum of Burford's two reportable segments will be referred to as "Total Segments" in certain disclosures, which is consistent with and identical to reporting on an aggregate "Burford-only" basis.
The Principal Finance segment reporting will be further simplified by discontinuing the use of the labels "capital provision-direct" or "core portfolio" (which described direct funding of legal finance assets by Burford's balance sheet) and "capital provision-indirect" (which described indirect funding of legal finance assets through commitments made by Burford's balance sheet to private funds). Performance track record measures such as return on invested capital (ROIC) and internal rate of return (IRR) will be entirely consistent with prior reporting and reflect direct funding by the balance sheet (formerly referred to as "capital provision-direct" or "core portfolio"), excluding the impact of any balance sheet commitments to private funds.
Reporting as US domestic issuer
As previously announced on August 5, 2024, effective as of January 1, 2025, Burford no longer met the requirements to qualify as a "foreign private issuer" as defined by the US Securities and Exchange Commission, due to the continued shift of its equity ownership to US-based investors. Beginning with the upcoming reporting for 4Q24 and FY24 financial results, Burford will report as a US domestic issuer, which entails changes to Burford's reporting and disclosures including:
- Filing periodic reports on Form 10-K (annual) and Form 10-Q (quarterly)
- Filing current reports on Form 8-K
- Complying with US proxy requirements in connection with its annual shareholder meeting
- Meeting shorter filing timelines for financial results applicable to large accelerated filers (40 days for quarterly reports and 60 days for annual reports)
As part of this transition, Burford's supplementary reporting documents will also be streamlined. As noted above, a detailed earnings presentation will be available when the financial results are released via Burford's investor relations website and current report on Form 8-K. The press release associated with Burford's quarterly financial results will serve solely as a reference to the earnings call and detailed earnings presentation and no longer provide a comprehensive disclosure of financial results.
For further information, please contact:
Burford Capital Limited | ||
For investor and analyst inquiries: | ||
+1 212 516 5824 | ||
EMEA & | +44 (0)20 3530 2023 | |
For press inquiries: | ||
David Helfenbein, Senior Vice President, Public Relations - email | +1 212 516 5824 | |
Deutsche Numis - NOMAD and Joint Broker | +44 (0)20 7260 1000 | |
Giles Rolls | ||
Charlie Farquhar | ||
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 | ||
Yasmina Benchekroun | ||
About Burford Capital
Burford Capital is the leading global finance and asset management firm focused on law. Its businesses include litigation finance 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 it works with companies and law firms around the world from its offices in
For more information, please visit www.burfordcapital.com.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy any ordinary shares or other securities of Burford.
This announcement 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 announcement is for informational purposes only. Past performance is not indicative of future results. The information contained in this announcement is not, and should not be construed as, an offer to sell or the solicitation of an offer to buy any securities (including, without limitation, 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 announcement contains "forward-looking statements" within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, regarding assumptions, expectations, projections, intentions and beliefs about future events. These statements are intended as "forward-looking statements". In some cases, predictive, future-tense or forward-looking 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, but are not the exclusive means of identifying such statements. In addition, Burford and its representatives may from time to time make other oral or written statements that are forward-looking, including in its periodic reports that Burford files with, or furnishes to, the US Securities and Exchange Commission, other information made available to Burford's security holders and other written materials. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future. Burford cautions that forward-looking statements are not guarantees of future performance and are based on numerous assumptions, expectations, projections, intentions and beliefs and that Burford's actual results of operations, including its financial position and liquidity, and the development of the industry in which it operates, may differ materially from (and be more negative than) those made in, or suggested by, the forward-looking statements contained in this announcement. Significant factors that may cause actual results to differ from those Burford expects include, among others, those discussed under "Risk Factors" in Burford's annual report on Form 20-F for the year ended December 31, 2023 filed with the US Securities and Exchange Commission on March 28, 2024 and other reports or documents that Burford files with, or furnishes to, the US Securities and Exchange Commission from time to time. In addition, even if Burford's results of operations, including its financial position and liquidity, and the development of the industry in which it operates are consistent with the forward-looking statements contained in this announcement, those results of operations or developments may not be indicative of results of operations or developments in subsequent periods.
Except as required by law, Burford undertakes no obligation to update or revise the forward-looking statements contained in this announcement, whether as a result of new information, future events or otherwise.
View original content:https://www.prnewswire.com/news-releases/burford-announces-date-for-release-of-4q24-and-fy24-financial-results-and-previews-changes-to-financial-reporting-framework-302383849.html
SOURCE Burford Capital Limited
FAQ
When will Burford Capital (BUR) release its Q4 2024 and FY 2024 results?
What are the new reporting segments for Burford Capital (BUR)?
Why is Burford Capital (BUR) changing to US domestic issuer status?
What new filing requirements will Burford Capital (BUR) face as a US domestic issuer?
