South32 Limited (S32) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to the South 32 FY24 results investor and analyst call. All participants are in listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Mr. Graham Kirk, Chief Executive Officer. Please go ahead. Thank you and good morning everyone and thanks for joining us today. On the call with me today is our Chief Financial Officer, Sandy Sabunala. Financial year 2024 was a pivotal year for our business, a year in which we accelerated our portfolio transformation towards commodities critical for a low-carbon future. Before I go into more detail on the milestones we achieved this year, I'd like to talk about safety. We assess our safety performance through a range of both leading and lagging indicators. During the year, our significant hazard frequency, a leading indicator, increased by 34%, indicating a positive reporting culture and increased hazard awareness. Our total recordable injury frequency for FI24, a lagging indicator, also improved by 14%. However, our lost time injury frequency rate increased by 19%, underscoring that while we have had a fatality-free year at our operations, we are still seeing too many serious injuries and we must be relentless in our pursuit of a safer workplace. During the year, we also continue to embed our safety guarantee across our business, which is used to instill a belief that everyone can go home safe and well and create a sense of chronic unease and to assist to reduce risk tolerance. Turning now to FY24 results. Improved operating performance, disciplined cost management and high commodity prices suppor...