Half Year 2024 Impala Platinum Holdings Ltd Earnings Call-(Pre Recorded) Transcript
Key Points
- Implats delivered strong production and commendable cost control despite several serious operational challenges.
- The group achieved an 8.5% improvement in lost-time injury frequency rates, with zero lost-time injuries reported at Mimosa.
- Group 6E ounce production increased by 18% to 1.9 million ounces, with refined 6E ounce production up by 19% to 1.75 million ounces.
- Implats met its environmental targets for water recycling and improved carbon emission and energy use intensities through increased use of renewable energy.
- The group closed the period with net cash of ZAR 5.2 billion, maintaining a strong and flexible balance sheet.
- The group reported 16 fatalities during the period, significantly impacting safety metrics.
- Revenue declined by 25% due to a 32% decrease in the rand revenue basket, despite a 12% increase in 6E ounces sales volume.
- Implats reported a ZAR 4.8 billion free cash outflow, skewed by negative working capital movements and once-off costs associated with the RBPlat acquisition.
- No dividend was declared for the period, reflecting the group's constrained profitability.
- The group faced inflationary pressures related to rand depreciation, with unit costs increasing by 5% at managed operations.
Welcome to the webcast presentation of our results for the 6 months ended 31 December 2024. I am Nico Muller, the CEO of Implats. This presentation aims to provide a high-level overview of our group's performance over the financial year.
Before we begin, I draw your attention to our normal disclosure statement pertaining to any forward-looking statements that may be made today. I also remind you that detailed commentary is available on our website.
I will start today's presentation with an overview of the group's performance, including safety and key features. This will lead into a more detailed account of operational performance of the group presented by Patrick Morutlwa, our Chief Operating Officer; followed by our financial results presented by Meroonisha Kerber, our CFO; and then Sifiso Sibiya, our Group Executive for Refining and Marketing, will provide an overview of the PGM market before I finish off with our outlook for financial year 2024.
Implats delivered strong production
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investorsā 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
