Operator
Welcome to the Caledonia Mining quarterly and full year results 2025 presentation for analysts and investors.
I would now like to hand you over to Mark Learmonth, who is the CEO. Mark, over to you.
Mark Learmonth
CEO & Non-Independent Director
Good afternoon, and welcome to this management conference call. If we could move to the first slide of the presentation, please. Just go to the disclaimer. So that’s the standard disclaimer. If we could move on to the next slide, please. Presenting teams’ me, Mark Learmonth, Caledonia’s Chief Executive. We’re also joined by Ross Jerrard, who will run us through the financial performance for the year; Victor Gapare, who will talk to us about what’s happening at Bilboes; and Craig Harvey will give us an update on the various exploration initiatives. If we could move on to the next slide, please.
So just in terms of the summary of the results, it was a very strong financial performance, underpinned by a higher gold price and some consistent operating delivery. Revenue up by 46% to $267 million. Gross profit up by 78% to $137 million. EBITDA up by 100% from just less than $60 million to just over $125 million, and profit after tax, up by 200% from $23 million to $67 million. So there’s some quite big numbers there. Ross will unpack those numbers in more detail in a moment. Should we move on to the next slide, please?
