The following is a summary of the Burford Capital Limited (BUR) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Burford Capital reported strong quarterly financial results with net realized gains almost doubled and significant cash inflow during Q3.

• They achieved $136 million in net income for the third quarter, resulting in $0.61 per share, with net income constituting over 60% of total revenues.

• Asset base sits at $3.6 billion, with non-YPF assets approximately $2.2 billion showing about a 35% fair value uplift to deployed cost.

• Book value per share has risen to over $11, reflecting an increase in tangible book value to just under $10.5.

Business Progress:

• Burford Capital made new commitments increasing over 5x compared to the same period last year, with $775 million in definitive undrawn commitments remaining robust.

• They experienced a variety of activities across different geographies and case types, indicating a strong global presence and diversified operations.

Opportunities:

• The business remains well-positioned to benefit from increasing trends in antitrust and intellectual property litigation, as well as arbitration, particularly in the EMEA and Asia Pacific regions.

Risks:

• The ongoing YPF case, although significant, carries uncertainties in legal outcomes and enforcement that could impact financial projections and market perceptions.

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