Sibanye-Stillwater flags higher earnings on solid operations and higher prices, margins
Multinational metals and mining company Sibanye-Stillwater expects to report a more than 200% year-on-year improvement in headline earnings per share (HEPS) to between R5.71 and R6.51, or between $0.35 and $0.38, for the six months ended June 30.
That compares with the HEPS of R1.90, or $0.10, reported for the six months to June 30, 2025.
Earnings per share (EPS) are expected to increase by more than 560% to between R5.97 and R6.58, or between $0.36 and $0.40, compared with a loss a share of R1.27, or $0.07, reported for the prior comparable period.
Sibanye-Stillwater, which will publish its results for the interim period on September 1, says the substantial improvement in HEPS and EPS reflects a stable operational delivery, stronger commodity prices and improved margins.
It adds that the increases in HEPS and EPS are owing to a record financial performance from the South African gold operations, including those operated by DRDGOLD in which Sibanye-Stillwater holds a 50.1% stake. The gold operations benefited from a 35% increase in the average rand gold price received and a 5% increase in gold sold, more than offsetting lower production and higher costs.
Further, the South African platinum group metals (PGMs) operations recorded a substantial increase in profitability on the back of a 67% increase in the average rand platinum, palladium, rhodium and gold PGM basket price received and a 12% increase in PGM sales at consistent production levels.
The US PGM operations also recorded an improvement in underlying profitability, supported by a 70% increase in the average dollar platinum and palladium PGM basket price received.
Sibanye-Stillwater achieved a significant reduction in impairment charges compared with the R9.7-billion recognised in the first half of 2025.
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