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Mon 16 Jun 2025
Close: 10 381c 
Day's move: 0c (0.00%)
Volume: 0
Trades: 0
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Revenue for the period lowered to R33.6 billion (R34.9 billion) with profit from operations ending lower at R1.5 billion (R2.4 billion). Loss attributable to the AECI Equity Group shareholders was R283 million (profit of R1.2 billion). Additionally, headline earnings per share declined to 716c per share (1 137c per share).
Declaration of final ordinary cash dividend No. 181
The Company's board of directors (Board) announced that it has resolved to declare a gross final cash dividend of 219.00 cents per ordinary share in respect of the financial year ended 31 December 2024. The dividend is payable on Monday, 14 April 2025 to holders of ordinary shares recorded in the register of the Company at the close of business on the record date, being Friday, 11 April 2025.
Changes to the board of directors and board committees
AECI shareholders and noteholders were advised that, after serving as a member of the Board for 9 years and in line with good corporate governance practices, Dr Khotso Mokhele, the current chairperson of the Board, has elected to retire as a director of the Company at the conclusion of the upcoming annual general meeting of AECI, expected to be held on 27 May 2025 (2025 AGM). Philisiwe Sibiya, an independent non-executive director of the Company, will assume the role of chairperson of the Board thereafter, having been so elected by the Board.
Dr Mokhele will accordingly retire as a member of the Social, Ethics and Sustainability Committee and Remuneration and Human Capital Committee, and as chair of the Nomination, Governance and Directors' Affairs Committee and Investment, Innovation and Technology Committee effective at the conclusion of the 2025 AGM.
AECI shareholders and noteholders were further advised of the following appointments to the Board committees with effect from 25 February 2025:
• Steven Dawson, an independent non-executive director, has been appointed as a member of the Nominations, Governance and Directors' Affairs Committee;
• July Ndlovu, an independent non-executive director, has been appointed as a member of the Investment, Innovation and Technology Committee; and
• Billy Mawasha, an independent non-executive director, has been appointed as a member of the Safety, Health and Environment Committee.
Company outlook
2024 has set a strong platform from which the Group can build and grow towards meeting its 2026 strategic ambitions. In 2025, our attention moves from the transition phase of our strategy to execution phase with an emphasis on driving hard cost savings, preparing for growth and focusing on free cashflow generation.
Key focus areas for FY2025 include:
• Driving structural cost optimisation, margin improvement, investment into market growth, unlocking headcount efficiencies and consolidating offices.
• Achieving the 2025 TMO targets linked to the overall 2026 saving of R2.4 billion.
• Reinvesting in asset health to mitigate future business disruption risks.
• Continuing to position AECI Mining for growth and improved operational performance by:
* maintaining the good performance momentum recorded in the fourth quarter of 2024,
* investing in growth capital as guided by the capital allocation framework, and
* internationalisation of the business with AECI Mining Chemicals at the forefront.
• Continue exploring and exploiting synergies between AECI Mining and AECI Mining Chemicals.
• Advancing the divestments programme and optimising the balance sheet to enhance capital allocation.
• Continue strengthening our leadership critical skills and capacity, including the roll-out of the culture journey.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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