Sibanye-Stillwater announced their anticipated financial results for the year ended December 31st, revealing a significant swing to a loss compared to the previous year. This shift was primarily attributed to lower average metal prices across the board, excluding gold, as well as an impairment charge accounted for in their financial statements.
Key Figures:
- Loss per Share: Expected to be between 69 and 76 U.S. cents, a stark contrast to the earnings per share of 40 cents in the prior year.
- Headline EPS: Predicted to have dropped to between 3 and 4 cents from the previous 40 cents.
- Impairment Charge: A substantial $2.58 billion impairment will be reflected in the company’s accounts, reflecting various factors such as declining metal prices and operational changes including the closure of the Kloof 4 shaft and deferral of the Burnstone project in South Africa.
Production Highlights:
- Platinum Group Metal Production: South Africa’s production stood at 1.75 million ounces, aligning with the guidance range of 1.7 million to 1.8 million ounces.
- U.S. PGM Mined Production: Increased by 1% to 427,272 ounces, surpassing the forecasted range of 420,000 to 430,000 ounces.
- South African Gold Operations: Excluding DRDGold, gold production reached 20,114 kilograms, falling within the projected range of 19,500 to 20,500 kilograms.
These results reflect the challenging market conditions faced by Sibanye-Stillwater throughout the year.
