Mining giant Impala Platinum Holdings (Implats) has given a signal of sharp recovery in earnings ahead of the half-year results to be released next month.
In a trading statement, Implats reported that it expects great improvement in both basic and headline earnings for the six months ended December 31 2025. This follows a rise in achieved US dollar platinum group metal (PGM) basket prices, supported by operational performance across the business.
Implats said it is certain that its financial performance will differ by more than 20% from the previous comparative period, triggering the requirements to update shareholders.
Headline earnings increase
For the period under review, headline earnings and headline earnings per share (HEPS) are forecast to increase by between 392% and 411%. Basic earnings and basic earnings per share (EPS) are expected to rise between 387% and 407%.
“Both headline and basic earnings are expected to be between R9.10-billion and R9.45- billion. And HEPS and EPS [are expected] to be between 1, 015 cents and 1, 054 cents per share, respectively.
“In the comparative period, the Group reported headline earnings of R1.85-billion and HEPS of 206 cents per share. And basic earnings of R1.87-billion and EPS of 208 cents per share,” reads the trading statement.
Weighted average number of shares in issue
Implats also noted a slight reduction in the weighted average number of shares in issue, which fell to 896.96-million from 898.05-million in the prior period.
The improvement is considered a reflection of both higher realised PGM prices in US dollar terms and what Implats also described as commendable operational delivery. This suggests better cost control, production stability, and efficiency at its operations.
Impala also cautioned that the financial information underlying the trading statement has not yet been reviewed or reported on by its external auditors.
