Start Time: 08:00 January 1, 0000 9:54 AM ET

Sibanye Stillwater Limited (NYSE:SBSW)

Q4 2022 Earnings Conference Call

February 28, 2023, 08:00 AM ET

Company Participants

Neal Froneman - CEO

Charl Keyter - CFO

Richard Stewart - Chief Regional Officer, Southern Africa

Charles Carter - Chief Regional Officer, Americas

Grant Stuart - Head, Recycling

Mika Seitovirta - Chief Regional Officer, Europe

James Wellsted - EVP, IR and Corporate Affairs

Conference Call Participants

Chris Nicholson - RMB Morgan Stanley

Adrian Hammond - SBG Securities

Richard Hatch - Berenberg

Operator

Greetings, everybody, and good afternoon. Good morning. Not sure what time zones everyone is in, but a warm welcome to our Year End Results Presentation for the year ended December 31, 2022. You will note from the subtitle, we've called this a decade of shared value. And that is because we've just had our 10th anniversary.

And we see this as a decade of having shared significant value with our stakeholders and our shareholders. And then, of course, the balance of that subtitle, we’re well positioned for future value creation. And I'm sure you will see that as we proceed through this presentation. Please take note of the Safe Harbor statement. There are forward-looking statements in this presentation.

I'm going to proceed with the first part and I will wrap up the event at the end after having invited other colleagues to join. Let me pick up on the salient features for the second half of 2022 and the year end 2022. Very pleasingly, I can really be proud of the achievement around safety. We continue to show very substantial improvements in all safety indicators with a fatal injury frequency rate having improved by 75%. Yes, 75% from 0.133 for 2021 to 0.033 for 2022. It's our best performance ever and it's something that we as a team are very proud of.

As I mentioned in the beginning, this is our 10th anniversary. It's been a remarkable journey of evolution and growth, resulting in us having established a more sustainable business, which is currently pivoting to remain relevant due to the ever changing environment we found ourselves in. And of course, we will remain relevant in the future as well.

We’re in a robust financial position. We generated positive free cash flow. Our net debt -- correction, sorry, our net cash to adjusted EBITDA remained at 0.14x, something we're very pleased about. We did declare final dividend of 122 South African cents per share or 26.98 U.S. cents per ADR that amounted to R3.45 billion or $191 million. We have retained our industry leading 6% dividend yield and the total dividends for the year amounted to R7.37 billion or $421 million. Again, we are pleased about that.