DRDGOLD Limited (NYSE:DRD) Q4 2024 Earnings Call Transcript August 21, 2024 4:00 AM ET
Company Participants
Niel Pretorius - CEO
Riaan Davel - CFO
Jaco Schoeman - COO
Conference Call Participants
Brendan Ryan - Miningmx
Martin Creamer - Mining Weekly Online
Niel Pretorius
Welcome, and thank you for joining us. This is our first presentation, live presentation after COVID. So it's really nice to be back in a venue where I can see more than just the upper section of the attendees. I think it's also the sort of results where we would have preferred to have people present and look you in the eye, tell you what we did, what we wanted to do and how we position going forward. Before we start, let me just switch this off before it goes off. There we go. So, Riaan is joining me as well. Riaan Davel is joining me as well. He will be taking care of the financial portion of the presentation, and then Jaco's also joining us. There's other colleagues, too. So at the end of the presentation, we'll be happy to take your questions and provide some additional perspective on the material presenting.
So you're familiar with the disclaimer. There are some forward-looking statements, so please familiarize yourself with those. And then as we get going, let's have a look at the performance for financial '24 at a glance. Obviously, something that we are hoping to maintain going forward as our dividend record. This is the 17th consecutive financial year that we're paying a dividend. This year is smaller because we spent quite a bit of capital to preserve for the future going forward. So the final dividend is ZAR0.20.
When I look at the number, it reminds me of how long I've been working for DRD. This is my 21st year. So happy that only four of those years were not dividend year and those were the first four. In terms of financial performance, revenue for the year was up 14%, just over ZAR6 billion. Operating profit was also up 14% to just over ZAR2 billion. This is, of course, on the back of a very, very good gold price. If you go through the numbers, you'll see that we only got to 84% of our targeted volume throughput for the year for a variety of reasons. That notwithstanding, we manage 93% of our targeted gold production. So there were some innovation, some hustling taking place to get the requisite tonnes through the circuit. But I think we ended up well considering the circumstances. And then, of course, with the gold price like had we have very position to take advantage of that.