Exxaro Resources Limited (EXXAF) Q4 2024 Earnings Call Transcript

2025-03-13 18:24:09 ET

Exxaro Resources Limited (EXXAF)

Q4 2024 Results Conference Call

March 13, 2025 03:30 AM ET

Company Participants

Sonwabise Mzinyathi - Chief Investor Relations & Liaison Officer

Kgabi Masia - Chief Coal Operations Officer

Riaan Koppeschaar - CEO and Finance Director

Sakkie Swanepoel - Group Manager of Marketing & Logistics

Leon Groenewald - Managing director, Energy

Mervin Govender - General Manager Project Management

Conference Call Participants

Tim Clark - SBG Securities

Thobela Bixa - Nedbank CIB

Mpumelelo Mthembu - Absa Capital

Nkateko Mathonsi - Investec Bank

Brian Morgan - Morgan Stanley

Presentation

Sonwabise Mzinyathi

Well, a very good morning, ladies and gentlemen. Welcome to the Exxaro 2024 Financial Year End Results. A warm welcome to those of you watching from our LinkedIn page. My name is Sonwabise Mzinyathi. I am the acting Chief Investor Relations and Liaison Officer for Exxaro, and I have the pleasure of facilitating the engagements for today.

As you know, at Exxaro, we always begin our meetings with the safety briefing. Therefore, please pay attention to the following. We have not planned any emergency drill for today. If for some reason, the alarm is activated, please remain calm and exit the building using the emergency exit doors.

The assembly point is in front of the building, and this is where the roll call we will be conducted. We will all remain at the assembly point until the instructions are issued to reenter the building. In the event of this situation, please note that visitors should always be accompanied by their host. For our bathroom facilities, when you step outside the auditorium, turn to your right and then first left, the restrooms will be on your right-hand side.

Smoking is prohibited inside this building. There are smoking areas allocated outside of the building. In the event of load shedding or power outage, please do not panic as we have generators on site, which will kick in within three minutes starting with the emergency lights, plugs and then the Wi-Fi. Please note -- please take note of our disclaimer.

Our agenda for today will cover our group performance overview, coal operational performance, group financial performance, and finally, we will provide our outlook for the year 2025. Our speakers for today, to my right is Riaan Koppeschaar, our acting CEO and Finance Director. He is joined by Mervin Govender, our acting Chief Coal Operations Officer; Later on, you will also hear from Leon Groenewald, who is our Managing Director for Energy.

With that, over to you, Riaan.

Riaan Koppeschaar

Thank you, Sonwa. Good morning, ladies and gentlemen. A special welcome to members of the Board present here today and the pensioner's club whose support we always appreciate. As you know, I've been acting as the CEO since the 4th of December last year, following the precautionary suspension and the subsequent resignation of the CEO.

As you saw this morning, the Board has appointed a new CEO, Mr. Ben Magara, Ben is also here with us, Ben you can perhaps put your hand up. But just on serious matters, so as displayed, in the past few months, the Board takes it fiduciary duties overseeing the activities of the Company very seriously. And our stakeholders are assured that Exxaro will take the appropriate steps to investigate all allegations whether received from our tip offline or directly to us as management or other channels within the organization.

As you've also been informed by the Board, our Chief Coal Operations Officer, Mr. Kgabi Masia is still under precautionary suspension, pending an independent investigation by the law firm, Bowmans. So to reiterate the Board's view, this is a suspension and neutral act that presumes no outcome, but it does allow an independent investigation to proceed unhindered. While that process unfolds, the business of Exxaro is, however, continuing and therefore, allow me to also introduce Mervin Govender....

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