Impala Platinum expects FY2022 earnings to fall, flags several operational challenges

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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. Importantly, Implats reported that its basic earnings for the period are expected to decrease by between 29% and 35% to be between R30.5 billion and R33.5 billion and EPS for the period is expected to decrease by between 33% and 39% to be between 3 669 cents and 4 030 cents per share.

Implats added that earnings in the period were adversely impacted by the combination of lower sales revenue and inflationary pressures on operating costs.

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