10 2025 Annual General Meeting Jean Simpson – Manager Corporate Services Resilience has become synonymous with NCT’s identity. It’s hard to imagine our organisation without it. While the past five years have brought unprecedented challenges—COVID-19, civil unrest, floods, fires, and infrastructure failures— adversity is not new to us. In fact, it’s been a constant companion over our 70-year journey, shaping our character and fortifying our resolve. It’s this enduring spirit that enabled NCT to weather the storms of the last six years. At our 76th Annual General Meeting, one message rang loud and clear: forestry is not for the faint-hearted. Despite a tough year, there is a shared optimism for the future. Chairman Vern Schefermann and General Manager Danny Knoesen reflected on the year’s challenges and offered a glimpse of the opportunities ahead. This year saw the lowest export volumes since 2013, with only 16 vessels shipped. Knoesen unpacked the complexities of global markets— declining paper demand, expansion in China, reduced wood chip exports from Brazil—yet noted that wood chip prices have remained stable. The cyclical nature of the pulp and paper industry means we must remain agile, strategic, and ready to adapt. Chairman Schefermann highlighted significant improvements at the Richards Bay mill, including world-class operational upgrades and enhanced firefighting systems. Amidst extensive rebuilding efforts, NCT’s relatively strong position is a testament to the dedication of our employees, innovative thinking, and prudent financial management. Of course, the R400 million in insurance payouts provided a vital cushion. CFO Kerry Moffett reported a pre-tax profit of R140 million, and a notably stronger balance sheet, with current assets rising from R1.76 billion to R1.83 billion. These figures reflect not just recovery, but renewed momentum. So, what lies ahead? • NCT remains a preferred woodchip supplier, thanks to strong customer relationships and a reputation for ease of doing business. • Our new chipping mill in Richards Bay boasts improved efficiency and positions us well for future growth. • Exciting market opportunities are emerging, particularly in response to the constrained gum market. • Our dedicated staff and resilient member base continue to collaborate for mutual success. Guest speaker Dawie Roodt offered a thoughtprovoking perspective: farming, as we once knew it, no longer exists. It must evolve into a sophisticated, tech-driven enterprise where skills translate into economic value. NCT plays a vital role in helping members gain a competitive edge in the timber industry. Roodt also shared his vision for South Africa’s economic recovery: • Protect private property rights—including life, labour, and mobility—to foster investment confidence. • Enable free trade and deregulate markets, cutting red tape across labour, capital, and trade. • Maintain low inflation and stable currency, ensuring efficient resource allocation and preserving the Rand’s value. No AGM would be complete without celebrating our people. We honoured our long-serving members and congratulated our Tree Farmers of the Year: Fairfield Estates (Pty) Ltd (Commercial Grower) and Godi Isaac Nsele (Small-scale Grower). Rob Thompson paid tribute to Jeremy Carr, recipient of the SAIF Forester of the Year award, who recently retired after a distinguished career with NCT. We also welcomed Heiner Hinze to the NCT Board and bid farewell to Philip Day and Ant Gibbs, who retired after serving for more than 20 and 10 years respectively. Their leadership has been instrumental in NCT’s success over the past two decades. Each AGM is a moment to reflect. And while the odds are often stacked against us, one truth remains: as a co-operative, we thrive together.
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