African Rainbow Minerals Limited (AFBOF) Q2 2025 Earnings Call Transcript

2025-03-10 09:45:19 ET

African Rainbow Minerals Limited (AFBOF)

Q2 2025 Results Conference Call

March 07, 2025 04:00 AM ET

Company Participants

Patrice Motsepe - Executive Chairman

Phillip Tobias - Chief Executive Officer

Tsundzukani Mhlanga - Finance Director

Thabang Thlaku - Investor Relations

Andre Joubert - Chief Executive, ARM Ferrous

Michael Schmidt - Board of Directors

Thando Mkatshana - Chief Executive, ARM Platinum

Conference Call Participants

Brian Morgan - RMB Morgan Stanley

Ntebogang Segone - Investec

Martin Creamer - Mining Weekly

Presentation

Operator

Good morning all. Apologies for the slight delay to starting our presentation, but we are on our way. Our Executive Chairman, Dr. Patrice Motsepe, will be joining us virtually for these results.

So, I would like to welcome you all to the African Rainbow Minerals results presentation for the interim period ended 31 December 2024. Thank you to those of you who are joining us online via webcast in LinkedIn, but a special thank you to those of you who've made an effort to be here with us in person. [Operator Instructions].

I will now hand over to our Executive Chairman, to start with the presentation. Thank you.

Patrice Motsepe

Okay. Thanks to everybody, a very special welcome out of loved to be present and -- but we all have work to do to make sure that African Rainbow Minerals continues to be globally competitive and delivers competitive results.

Now let me start by thanking everybody for being present and a very special thanks to our management team under the capable leadership of Philip and Tsu. And we also have a world-class team contribution from Mike Schmidt, Andre Joubert, Thando and Thabang and Tsu, of course, our Finance Director. And thank you so much to the Board members who are present and particularly to our Chairman of Audit and all the other Board members who are with us.

The important things of presentations of this nature results are definitive. We can do all the most wonderful work as a company. And of course, the circumstances, for example, the pricing of our commodities that are outside our control, but our dominant focus has to be on those factors, circumstances issues operational performances that are totally under our control and consistently deliver competitive results competitive in the context of our peers and also in the context of building a globally competitive company. And that has always been the focus, and that will continue to be our objective in the short, medium, long term.

And let me just repeat by saying results are critically, critically important and delivering good results, competitive results is a critical factor from an African Rainbow Minerals perspective. Headline earnings. For the first half of 2025 decreased by 49% to ZAR1.5 billion. The results have already been published early this morning, so I'm just going to identify those key factors in. Phillip will provide more detail and Tsu also, our Finance Director, will provide additional detail on the specific issues, which I'll be referring to. And as is always the case, the management team, Phillip, Tsu, Mike and Thabang are available for questions, not just during this presentation, but also afterwards and we'll also be going on a roadshow to engage with our shareholders and specifically to interact with our shareholders.

And I really want to thank all of those shareholders who on an ongoing basis give us feedback and give us advice, including specifically their thoughts in areas where they think we can improve. And that feedback is highly appreciated and it's taken very seriously.

Our financial position remained robust. We've got a net cash -- we have net cash as at the end of December '24 of ZAR6.1 billion. And earlier on, I spoke about what the headline earnings are and we are declaring a dividend of ZAR4.5 per share. The declaration of dividends is an important part of African Rainbow Minerals, being globally competitive. And the declaration of dividends goes hand-in-hand with an important investment in the future. And you will see from what Phillip will say and provide further details....

Read the full article on Seeking Alpha

For further details see: