Full Year 2024 Pilbara Minerals Ltd Earnings Call Transcript
Key Points
- Record production of 725,000 tonnes and record sales of 707,000 tonnes.
- Achieved a healthy EBITDA of $538 million with a robust EBITDA margin of 43%.
- Strong cash balance of $1.6 billion, even after significant investments.
- Material improvement in safety with a 27% reduction in TRIFR to 3.4.
- Progress in sustainability initiatives, including the release of the FY24 Sustainability Report and the first reconciliation action plan.
- Average realized price of lithium declined significantly from USD4,447 per tonne in FY23 to USD1,176 per tonne in FY24, a 74% decline.
- Revenue decreased by 69% to $1.3 billion due to lower lithium prices.
- EBITDA reduced by 84% compared to the prior corresponding period.
- No final dividend declared for H2 FY24 to preserve balance sheet strength.
- Increased capital expenditure in FY24, with payments for property, plant, and equipment totaling $810 million.
Good day and thank you for standing by. Welcome to the Pilbara Minerals FY24 results webcast conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Dale Henderson, Managing Director and CEO. Please go ahead.
Thank you, Michelle, and thank you all for dialing in this morning. Good morning. I'd like to begin by acknowledging the traditional owners on the lands which our businesses operate, the Whadjuk people of the Noongar Nation in Perth, we're undertaking our call from today, and the Nyamal and Kariyarra people to the north where our operations are located in the Pilbara. We pay our respects to the elders, past and present.
For the call today, the focus of the presentation is on our FY24 full year financial results. However, we will take the opportunity to recap on progress made during the year and finish with some market
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