Impala Platinum delivered a strong financial performance

Implats delivered a strong financial performance, with significantly improved EBITDA, free cash flow generation, balance sheet strength and liquidity headroom. The benefit of strong metal pricing was maximised through a commendable operating performance and sustained cost control.

Revenue of R60.8 billion increased by 44%, while cost of sales of R47.3 billion were 18% higher and Implats delivered gross profit of R13.4 billion.

Net foreign exchange losses increased to R763 million, while other net income declined to R289 million – income in the prior period benefited from the receipt of insurance proceeds.

Profitability at both JVs – Mimosa and Two Rivers – rebounded on higher achieved sales revenue and sound operational delivery. Reported earnings from associates of R138 million were, however, impacted by unrealised profit in stock adjustments of R979 million.

EBITDA of R18.1 billion was achieved at an EBITDA margin of 30%.