Implats’ headline earnings for the for the year ended 30 June 2021 are expected to be between R35.8 billion and R36.8 billion and headline earnings per share (HEPS) are expected to be between 4 564 cents and 4 691 cents per share. This represents an increase of between 122% and 129% for headline earnings and an increase of between 120% and 126% for HEPS.
The increase in earnings was partially offset by a once-off non-cash IFRS2 BEE charge of R1.5 billion, (no tax impact), arising on the Marula BEE loan refinancing. Headline earnings and HEPS for the comparative period were R16.1 billion and 2 075 cents respectively.
Basic earnings for the period are expected to be between R46.5 billion and R47.5 billion and basic earnings per share (EPS) are expected to be between 5 928 cents and 6 056 cents per share. This represents an increase of between 189% and 195% for basic earnings and an increase of between 187% and 193% for EPS.
This includes the impact of the reversal of impairment losses on property, plant and equipment and the prepayment of royalties of R10.6 billion or 1 351 cents per share (post-tax) recognised in prior periods. These impairment reversals are non-cash and have been excluded from headline earnings. Basic earnings and EPS in the comparative period were R16.1 billion and 2 066 cents respectively.
Implats will release its results for the period on or about 2 September 2021.