Implats declares final dividend despite mixed FY2025 performance

Implats announced a final gross cash dividend of 165 cents per ordinary share for the financial year ended 30 June 2025, totaling R1.5 bn. This payout represents approximately 60% of adjusted free cash flow, in line with the company's dividend policy targeting a minimum 30% return.

The Group's 6E production declined 3% to 3.55Moz, while refined and saleable 6E production remained stable at 3.37Moz. Revenue decreased by 1% to R85.5 bn, and gross profit fell by 55.3% to R2.4 bn. Headline earnings were R732m or 82 cents per share, a 69.5% decrease, impacted by lower sales volumes, muted rand PGM prices, and restructuring costs.

Despite these challenges, Implats achieved a free cash flow of R2.4 bn and maintained an adjusted net cash position of R8.1 bn. Capital expenditure was reduced by 50% to R7.0 bn, focusing on safety and operational efficiency, including the commissioning of a 38MW smelter and a 35MW solar power plant at Zimplats.