Golden Cariboo Res Ltd

Good morning and welcome to GCC's third quarter 2023 earning results conference call. Before we begin, I would like to remind you that this call is being recorded and that all participants will be in a listen-only mode. Please also note that a slide presentation accompanies today's webcast. The link is available on the company's IR website at gcc.com. At this time, I would like to turn the call over to Hori Oguchi, Head of Investor Relations, please go ahead.

Good morning, everyone, and thank you for joining. With me today are Mr. Enriquez Calante, our Chief Executive Officer, and Mike Streffer, Chief Financial Officer. The earnings release detailing our 2023 third quarter results was released yesterday after market close and is available on the company's website. This conference call is also being broadcast live within the investor section of the company's website at gcc.com, and both the webcast replays of the call and transcript will be available on the same site approximately one hour after the end of today's call. Before we begin, I would like to remind you that our remarks today will include forward-looking statements. Actual results may differ materially from those contemplated by these forward-looking statements. Factors that could cause these results to differ materially are set forth in yesterday's press release and in our quarterly report filed with the Mexican Stock Exchange. Any forward-looking statements that we make on this call are based on assumptions as of today, and we undertake no obligation to update these statements as a result of new information or future events. With that, let me now turn the call over to Enrique.

Thank you, Saori, and good morning, everyone. GCC again delivered double-digit top-line growth for the third quarter of 2023, which marks our tenth consecutive quarter of double-digit growth. It's also important to note that by the quarter's end, we have achieved more than $1 billion in accumulated sales, one quarter earlier than when we achieved this last year. This has been driven by a successful pricing strategy as well as our unwavering focus on client service and the strong client relationship, which have proved to be an enduring competitive advantage for our company. I want to thank the entire GCT organization for your focus on our key priorities. The team continues to navigate market conditions, enabling us to strengthen margins. We achieved 38% EBITDA margins, reflecting continued traction on our measures to improve overall operational efficiency with strong execution on our cost optimization across the organization. Let me share some highlights regarding the three pillars aligned with our 2025 vision, our people, profit, and planning. People. Starting with our people pillar, Our team's safety is central to our operations. I'm pleased to share that GCC was recognized as industry leader during the third quarter to both the PCA Safety Innovation Award and the 2023 Chairman's Safety Performance Award. These prestigious awards underscore our industry best practices and commitment to safety. as evidenced by the lack of reportable injuries and illness at our plants year to date. While we're proud of our track record, excellence in safety requires a commitment to continued improvement and ongoing evaluation. These are a core concept of GCC's strategic plan. As part of this program, We have trained over 450 supervisors and managers, prioritizing investment in responsible and safe operations. We also further our serious injury and fatality prevention system, establishing additional controls to reduce the probability of serious injury or fatality. GCC's training and development focus not only on safety, We continue to strengthen our workforce technical skill through the GCCCMN Training Institute. We are currently training employees through 14 high-priority programs, and to date, we have dedicated over 7,700 hours training 350 employees. While it's still early to quantify the results, we have received strong favorable feedback from employees enrolled. We're also investing in building our company's next generation of leaders through a two-year leadership program that's unique to GCC. As part of this talent development initiative, we've partnered with ICAMI, the Mexican Center for Integral Training and Management Development, to ensure a holistic approach that encompasses strategic, operative, and tactical training. This month, We have finished selecting candidates for the first cohort that will start the program in January 2024. Also of note, we initiated the Great Place to Work Annual Survey this week to identify potential areas of improvement with the goal of keeping a high level of retention of our talent. The programs and strategies I've described are particularly relevant in today's labor environment. While GCC benefits from a very stable workforce with low turnover levels and without labor pressure, our proprietary programs proved to be invaluable and an important differentiator.