Equiti Capital: 2025 Annual Report
In 2025, Equiti Capital UK maintained a strong balance sheet while successfully repositioning its business for sustainable, long-term growth. The Company reshaped its operating model, reducing principal trading and risk-bearing activities while building a more resilient and diversified revenue base.
Net trading revenue was $24.4 million, reflecting the Company's strategic repositioning.
Operating costs reduced to $24.3 million, demonstrating disciplined cost management as the business transitioned to its revised operating model.
Net assets stood at $32.5 million, after returning $7 million to its shareholder through dividends, underlining the continued strength of the balance sheet.
2025: Year in review
Equiti Capital UK concluded its financial year on 31 December 2025 having implemented a series of strategic initiatives designed to strengthen the business and support its long-term development.
During the year, the Company took a more selective approach to client onboarding, reviewed counterparty concentration risk across the Group and rebalanced its role as a liquidity provider to Group entities. Together, these measures contributed to a stronger overall risk profile.
Net trading revenue was $24.4 million, compared with $32.2 million in 2024, reflecting the Company's strategic shift in its operating model. Revenue was generated through a combination of direct trading activities and support services provided to other Group entities.
At the same time, operating costs fell to $24.3 million from $31.8 million in 2024, reflecting continued discipline in managing the Company's cost base as the business evolved.
The balance sheet remained a key source of strength throughout the year. Net assets stood at $32.5 million after the Company returned $7 million to its shareholder through dividends. Cash and cash equivalents of $57.7 million provided substantial liquidity headroom, while finance income increased to $1.5 million from $0.7 million in 2024, supported by stronger returns on cash resources.
The Company also strengthened its Board with the appointment of Simon Dodkin as a Director, effective 31 March 2025. Throughout the year, Equiti Capital UK continued to foster a culture of integrity, accountability and collaboration, with diversity, inclusion and employee wellbeing remaining important priorities.
Paul Webb, Group COO of Equiti, commented: "2025 was a year of purposeful transition for Equiti Capital UK. Through disciplined risk management and a more focused commercial strategy, we have strengthened the business and created a solid platform for future growth.
I'm particularly proud of the contribution our UK team continues to make across the wider Equiti Group. As we look to 2026, we remain focused on diversifying our client base, broadening our product offering and investing in our people and operations to support sustainable, long-term growth."
What to expect in 2026
Looking ahead, Equiti Capital UK will continue to diversify its client base and explore opportunities to broaden its product offering, subject to internal governance and regulatory approvals.
Governance and compliance will remain central to the Company's strategy, supported by a comprehensive risk management framework. Equiti Capital UK will also continue to monitor developments across the macroeconomic and geopolitical landscape, while maintaining the financial strength and operational resilience needed to meet its obligations across a range of market conditions.
