Valterra Platinum's Earnings Jump on PGM Price, Cost Savings

By Adam Whittaker

Valterra Platinum's earnings jumped as it benefited from higher platinum group metals prices and cost savings.

The platinum group metals mining company said Wednesday that headline earnings--which strip out exceptional and other one-off items--for the full year nearly doubled to 16.7 billion South African rand ($1.05 billion). On a per share basis, earnings were 63.48 rand.

Valterra started trading in London last year after being spun off from Anglo American as part of a restructuring triggered by a failed BHP takeover bid.

Adjusted earnings before interest, taxes, depreciation and amortization came in at 33.4 billion rand compared with 19.8 billion rand in the year prior.

It said the earnings rise reflects a 22% increase in the rand basket price of PGM metals, and around 5 billion rand in operating costs savings. This exceeded the 4 billion rand target it had set. Over the past two years, the company said that it has made operational cost savings of 12.3 billion rand, which has enabled it to more than offset inflation, it said.

Basic earnings more than doubled to 15.4 billion rand, and were 58.72 rand on a per share basis.

Despite the higher earnings, its full-year dividend came in at 45 rand, down from 71.75 rand.

Write to Adam Whittaker at adam.whittaker@wsj.com

(END) Dow Jones Newswires

February 25, 2026 02:58 ET (07:58 GMT)