Impala Platinum Sees Headline Earnings, Headline EPS at Least 20% Lower

By Anthony O. Goriainoff

Impala Platinum Holdings said it expects headline earnings and headline earnings per share for fiscal 2023 to be at least 20% lower than the year before as its operating environment was typified by continuing headwinds and regional power constraints.

The South African platinum miner said Monday that this was due to the effect of weaker dollar platinum-group-metals pricing and lower refined production as a result of load curtailment.

The company said that for the year ended June 30, 2022, headline earnings were 32.03 billion South African rand ($1.73 billion), with headline EPS of 3,853 South African cents.

The company said it also expects a 20% fall in basic earnings and basic EPS for the year mostly due to the lower dollar platinum-group-metal basket price and lower refined production. Basic earnings for the year prior were ZAR32.05 billion and 3,856 South African cents.

The company said six platinum group metals, or 6E, gross group production for fiscal 2023 rose 2% to 3.25 million 6E ounces, with production from managed operations rising 6% to 2.42 million 6E ounces.

6E metals are ruthenium, rhodium, palladium, osmium, iridium, and platinum.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

August 07, 2023 04:53 ET (08:53 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.