Impala Platinum posts decline in FY22 earnings on lower PGM pricing and operational headwinds

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platinum palladium PGM Impala Platinum posts decline in FY22 earnings on lower PGM pricing and operational headwinds

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The company said that gross refined volumes were impacted by lower concentrate production and the extended maintenance required on the Number 3 Furnace at Impala Rustenburg. The company’s revenue decreased by 9% to R118.3 billion , the cost of sales was 1% higher at R77 billion , and gross profit declined by 23% to R41.3 billion . Group EBITDA of R53.4 billion was achieved at an EBITDA margin of 45%.

The company explained that earnings in the period were adversely impacted by the combination of lower sales revenue, operational headwinds and inflationary pressures on operating costs.

 

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