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Thu 28 Aug 2025
Close: 15 790c 
Day's move: 349c (2.26%)
Volume: 6 467 347
Trades: 17 352
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Revenue for the year lowered to R85.5 billion (R86.4 billion) with gross profit coming in less at R2.4 billion (R5.5 billion). Profit for the year attributable to owners of the company came in at R761 million (loss of R17.9 billion). Additionally, headline earnings per share fell to 82c per share (269c per share).
Dividend declaration
Shareholders are advised that the board has resolved to declare a final gross cash dividend of 165 cents per ordinary share amounting to R1.5 billion as at the date of declaration, for the financial year ended 30 June 2025. The dividend will be paid from retained earnings.
Company outlook and guidance
FY2026 began with an improved performance at our mining operations and stability across Group processing assets. Rand PGM pricing gains were maintained in the early months of FY2026, despite the traditionally quiet Northern Hemisphere 'summer lull' and continued macroeconomic uncertainty, including tariff-related developments. Sales are set to benefit from the delayed destocking of accumulated in-process inventory.
Our operational focus remains firmly on improving safety outcomes and arresting the unacceptable incidence of fatal injuries. In FY2026, we will intensify efforts across several key areas: managing the orderly wind-down of commercial operations at Impala Canada, ensuring continued employee relations stability, realising operational efficiencies at our newly consolidated Impala operations and securing operational improvements at Marula.
Our broader strategic agenda centres on optimal capital allocation and maximising the optionality and opportunities within our portfolio, supported by our strong and flexible balance sheet, to deliver a resilient and higher-value Implats.
Group production in FY2026 will be supported by sustained operating momentum at Impala Rustenburg, Mimosa and Two Rivers, while restored momentum at Zimplats and improved stability at Marula bode well for the Group's production outlook. Impala Canada volumes will decline in line with the planned end of commercial operations during the year.
Refined volumes are expected to benefit from improved annual processing availability at both Impala Rustenburg and Zimplats, driven by an optimised operating strategy and enhanced maintenance protocols, and the destocking of previously accumulated inventory, a process expected to be completed by FY2029. Group 6E refined and saleable production is expected to be between 3.4 and 3.6 million ounces. Group unit costs are forecast to rise by between 4% to 9% or R23 500 and R24 500 per 6E ounce on a stock-adjusted basis. Group capital expenditure is forecast to be between R8 billion and R9 billion, with negligible growth capital expected. This guidance assumes exchange rates of R18.00/USD and CAD1.39/USD, respectively.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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