Johannesburg, 31 August 2023 – Impala Platinum Holdings Limited (Implats) produced a strong
production and safety performance, delivered robust earnings and cash generation for its full year to end
30 June 2023, and concluded the acquisition of Royal Bafokeng Platinum (RBPlat). Amid softening rand
PGM pricing and lower refined production and sales, the Group recorded EBITDA of R36.0 billion,
headline earnings of R18.8 billion or 2 211 cents per share, and generated free cash flow of R14.2 billion,
after funding capital expenditure of R11.4 billion and R4.9 billion in acquistion costs for RBPlat in the
period.. The board of directors declared a final dividend of 165 cents per share, resulting in a total dividend
for FY2023 of 585 cents per share.
Implats CEO, Nico Muller, said: “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 PGM pricing, rand depreciation and persistent inflation in the
period under review. This is testament to the skills and strength of our people, with standout performances
at Impala Canada, Zimplats and Impala Rustenburg.
“The year’s highlight was securing ownership of RBPlat and the Group is now implementing its plans to
integrate and optimise the asset to ensure maximum value from this important acquisition. The combined
asset base of Impala Rustenburg and RBPlats will result in a more secure and sustainable Rustenburg
operating complex in years to come, with a premier mine-to-market production base, well-capitalised
infrastructure and long-term competitive positioning, enhanced by industry-leading integrated processing
capability and through the achievement of material potential synergies.
“The Group improved its safety metrics and its sustainability journey gained momentum with several
accolades received in the period, recognising its excellence in and enduring commitment to
environmental, social and governance (ESG) management.
“Despite the challenging operating environment, Implats delivered a strong performance and we ended
the year in a sustainable, flexible and more competitive position, well placed to continue creating and
sharing value with all our stakeholders.
“The uncertain macroeconomic environment and the recent material decline in dollar PGM pricing has
heralded a period of rapid margin compression across the sector, which requires decisive action and
focus to preserve business sustainability. The pricing decline is, however, taking place in the context of
a robust medium-term outlook for our primary products, with destocking of metal by industrial and auto
end-users and the flow of discounted metal from Russia negatively impacting market liquidity and pricing.
NEWS RELEASE
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“We have invested heavily in asset integrity, harvesting some of the benefit of our recent strong financial
performance to materially strengthen our portfolio competitiveness. We remain focused on delivering
consistent and safe production, constructively collaborating with key stakeholders and entrenching operational agility and flexibility.
“Our near-term focus at our newest asset, RBPlat, is to provide technical support, guidance and oversight
to optimise costs, improve metallurgical performance, complete the Styldrift ramp-up, and plan and implement the medium- and longer-term initiatives to realise the synergies provided by the acquisition.” see & read more on
https://www.implats-ir.co.za/results/2023/annual-results-2023/pdf/news-release.pdf