Northam Platinum records increases in refined PGMs and chrome concentrate
Northam Holdings’ financial results for the year ended 30 June 2025 are underpinned by a solid operational performance. Notwithstanding this, Northam Holdings expects to report a decrease in basic and headline earnings for F2025 compared to the financial year ended 30 June 2024.
Key metrics for F2025:
- The group’s equivalent refined metal produced from own operations increased to 899 244 oz 4E (F2024: 892 876 oz 4E).
- Group production of chrome concentrate increased by 9.0% to 1 439 752 tonnes (F2024: 1 320 963 tonnes), on the back of improvements in UG2 tonnage throughput, feed grades and concentrator yields.
- 5.2% increase in total refined metal produced to 937 942 oz 4E (F2024: 891 721 oz 4E).
- 6.9% increase in sales revenue to R32.9 billion (F2024: R30.8 billion), primarily attributable to a 5.9% increase in total metal sold to 1 006 475 oz 4E (F2024: 950 251 oz 4E), with total metal sold by the group having exceeded 1 million oz 4E for the first time.
- 8.1% increase in group unit cash cost per equivalent refined 4E ounce to R25 728/4E oz (F2024: R23 811/4E oz), reflecting the impact of mining cost inflation.
- 25.5% decrease in operating profit to R3.6 billion (F2024: R4.8 billion), reflecting the impact of mining cost inflation against flat rand metal prices.
- 14.8% ‘ 19.8% expected decrease in basic earnings per share.
- 9.4% ‘ 19.4% expected decrease in headline earnings per share.
- Net debt of R5.1 billion with a net debt to EBITDA ratio of 1.04 at year-end, before taking into account the post year-end USD66.0 million once-off cash inflow referred to below.
- R12.3 billion fully undrawn and available bank facilities.
