Impala Platinum publishes consolidated annual results for the FY 2023
Enhanced operational flexibility, resilience and disciplined execution enabled Implats to successfully navigate a series of domestic and regional challenges, which compounded the effects of softening dollar pricing, rand depreciation and persistent inflation in the year under review. This is testament to the skills and strength of its people, with standout performances at Impala Canada, Zimplats and Impala Rustenburg, said Implats in its report.
Key features for FY2023:
- Regrettably, five fatalities at managed operations
- 7% improvement in LTIFR* to 3.92 and 5% improvement in TIFR* to 9.25
- No major or significant environmental incidents
- Maintained A-rating from MSCI for ESG performance
- Second consecutive inclusion in the S&P Global Sustainability Yearbook (2023)
- Group 6E production increased 2% to 3.25Moz
- Refined 6E production declined 4% to 2.96Moz
- 6E sales volumes declined 6% to 2.97Moz
- Group 6E unit costs rose 14% to R19 834/oz (stock-adjusted)
- Consolidated Group capital expenditure of R11.5 billion
- Dollar revenue per 6E ounce decreased 18% to US$ 2 035/oz on lower rhodium and palladium pricing
- Rand revenue per 6E ounce declined 4% to R36 118/oz
- EBITDA of R36.0bn with headline earnings of R18.8bn or 2 211c per share
- Basic earnings of R4.9bn or 577c per share
- Free cash flow of R14.2bn and closing net cash (excluding leases) of R25.3bn
- Final dividend of 165c per share, bringing total FY2023 dividend to 585c per share
- Secured control of RBPlat, with integration now underway
- Tightening markets for PGMs, with pricing undercut by industrial destocking
*Per million man-hours worked
