RVBA-SFOR▲Listed

S4 Capital

Marketing Services·Software - Infrastructure

SFOR (LSE)·London·GB

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SBTi Validated1.5°CCDP Listed

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Homepage | S4Capital

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Decarbonisation trajectory · all scopes

Scope 1 + 2· base 2022 · 5k tCO2eScope 3· base 2022 · 28k tCO2e

Headline intensities

Reporting year 2024·Values in USD ($)· normalised from GBP at FY2024 avg rate

Peer cohort: Marketing Services · lower is better

Revenue intensity

Carbon / $m revenue

18.7tCO2e / $m

Carbon per million dollars of revenue. The legacy industry-standard reference (CDP, MSCI). Useful for cross-sector context, but distorted by margin — high-margin firms appear artificially efficient. Read alongside the operational and asset intensities for the full picture.

Top quartile

better than 75% of peers

best 18.7n=3 peersworst 43.1

Operational intensity

Carbon / $m OpEx

13.7tCO2e / $m

OpEx (operating expenditure) is the running cost of the business — staff, services, energy, materials. This shows how carbon-intensive operations are per million dollars of spend. Removes the margin distortion that revenue-based ratios introduce.

Top quartile

better than 75% of peers

best 13.7n=2 peersworst 154

Economic intensity

Carbon / $m EVIC

24.4tCO2e / $m

EVIC (Enterprise Value Including Cash) is the firm's total capital footprint — equity + debt + cash + minority interest. The EU's standard intensity measure (SFDR PAI 3) — answers: how much carbon does each million of capital deployed in this business produce?

Top quartile

better than 75% of peers

best 24.4n=2 peersworst 38.4

Asset intensity

Carbon / $m PP&E + leased

184tCO2e / $m

PP&E (Property, Plant & Equipment) plus leased real-estate assets is the firm's physical infrastructure on the balance sheet. This shows the carbon intensity of that physical footprint — uses Scope 1+2+3 for consistency with the other headline intensities. Surfaces stranded-asset risk for asset-heavy firms.

Top quartile

better than 75% of peers

best 184n=2 peersworst 186

Workforce intensity

Carbon / FTE

0.32tCO2e / FTE

Carbon per FTE (full-time-equivalent employee) — the diagnostic measure for people-leveraged businesses where headcount, not capital, drives delivery. Captures the office, energy and travel footprint per person.

Below median

better than 30% of peers

best 0.15n=4 peersworst 0.39

Climate action evidence

64 records · 1 source

Carbon credits retired

45,293 tCO2e

64 retirements · FYNaN–NaN · third-party verified

By credit quality

Nature-based removals748 tCO2e(2%)
Avoidance / reductions43,975 tCO2e(97%)
Unclassified570 tCO2e(1%)

Retirement records(top 8 by volume of 64)

2023 Tradewater - Thailand 6 · acr9,344 tCO2e
2023 Tradewater - Thailand 5 · acr6,984 tCO2e
2023-01-01 BRUSQUE LANDFILL GAS PROJECT · verra3,612 tCO2e
2022 300 MW Solar PV Plant at Bhadla Rajasthan · gold_standard2,934 tCO2e
2021 Soke Wind Power Plant Project · gold_standard2,500 tCO2e
2023 300 MW Solar PV Plant at Bhadla Rajasthan · gold_standard2,152 tCO2e
2022 300 MW Solar PV Plant at Bhadla Rajasthan · gold_standard1,846 tCO2e
2022-01-01 KUAMUT RAINFOREST CONSERVATION PROJECT · verra1,806 tCO2e

+ 56 more retirements not shown

Renewable electricity

42 %

Self-reported renewable electricity share, FY2024

Sources

· berkeley_voluntary_registry

Registry retirements are direct evidence; commitments are forward-looking pledges. EPA snapshot covers FY2019–FY2020.

Targets

Near-term

2 targets

Scope	Base	Target	Reduction	Alignment	Progress	Status
Scope 1 + 2Absolute	2022	2030	−42%	1.5°C	−51.1% reductionof −42% target · 122% there	On track
Scope 3Absolute	2022	2030	−25%		−34.9% reductionof −25% target · 139% there	On track

Long-term

1 target

Scope	Base	Target	Reduction	Alignment	Progress	Status
Scope 1 + 2 + 3Absolute	2022	2040	−90%	1.5°C	−37.2% reductionof −90% target · 41% there	On track

Net zero

1 target

Scope	Base	Target	Reduction	Alignment	Progress	Status
Scope 1 + 2 + 3	2022	2040	—	1.5°C	absolute-value target	—

Progress · absolute tCO2e

Scope 1 + 2 trajectory vs target

Scope 1 + 2 · 42% by 2030 · 1.5°C

ActualLinear1.5°C

Scope 3 trajectory vs target

Scope 3 · 25% by 2030

ActualLinear1.5°C

Latest news· last 5 of 39

full news log →

Net debt target lowered to £60-90m for 2026
Targeted net debt range for 2026 is £60-90m, with medium-term leverage target reduced to under 1.0x net debt/operational EBITDA, below the previous range.
2026
No acquisitions in 2025
No acquisitions were made in the year ended 31 December 2025, simplifying year-on-year comparison.
2025
Launch of three new go-to-market offerings
Introduced three new GTMs: Orchestration Partner, Real-Time Brands, and Glass Box Media, all supported by Monks.Flow AI workflow solution.
2025
Reportable segments restructured to two Practices
Effective 1 January 2025, the Group's reportable segments were restructured into two Practices: Marketing Services and Technology Services. Marketing Services comprises the previously reported Content and Data&Digital Media segments. Prior period comparatives have been re-presented.
2025
Headcount reduction of 7% during 2024
The number of Monks at the end of the year was around 7,150, down 7.0% from over 7,700 at this time last year, reflecting disciplined cost management aligning headcount with activity levels.
2024

Latest reporting year· 6 earlier years on Data-by-year tab

all years + ratios →

2026

reporting year

Financials

Revenue—

OpEx—

FTE—

Market cap (FY-end)—

Climate

Scope 1—

Scope 2 (market)—

Scope 2 (location)—

Scope 3 total—

Source documents· FY2026· 5 earlier docs on Data-by-year tab

all documents →

integrated report2026

via jina search · 0.7 MB

extractedOPEN PDF ↗