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South32 Limited (SOUHY) Q2 2026 Earnings Call Transcript

by SA Transcripts
February 17, 2026
in Stock Market
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Graham Kerr
CEO, MD & Govt Director

Good morning, everybody, and thanks for becoming a member of us at present. On the decision with me is our Deputy CEO, Matt Daley; our Chief Monetary Officer, Sandy Sibenaler; and our Chief Working Officer for Southern Africa, Noel Pillay. I would like to start out with security, the place we’re seeing enhancements in key measures following our sustained effort to enhance efficiency by way of our international security enchancment program. Throughout the half, we achieved additional important enchancment in important hazard frequency, which demonstrates improved hazard consciousness and a extra proactive reporting tradition. We have additionally seen constructive reductions throughout our lagging indicators. Whereas the info is encouraging, we’re decided to constantly enhance our security efficiency.

Transferring to our monetary outcomes. I am happy to say now we have delivered sturdy monetary outcomes for the half, underpinned by our working efficiency and better costs for base and treasured metals. Our FY ’26 manufacturing unit steerage is unchanged throughout our operated property off the again of our continued deal with delivering secure and dependable working efficiency. This efficiency enabled us to seize the advantages of the constructive market circumstances for our key commodities. We have delivered underlying EBITDA of USD 1.1 billion with group working margin of 28.2% and development in underlying earnings of USD 435 million.

Our stability sheet stays sturdy with web debt of USD 25 million on the finish of the interval, enabling us to put money into each excessive returning



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