Wrap Text
Extracts from the audited results for the year ended 31 December 2025 and final cash dividend declaration
Kumba Iron Ore Limited
Registration number: 2005/015852/06
JSE share code: KIO
ISIN: ZAE000085346
Income tax number: 9586/481/15/3
(Kumba or the Company or the group)
EXTRACTS FROM THE AUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2025
AND FINAL CASH DIVIDEND DECLARATION
KEY FEATURES
Safety and sustainability focus:
- Fatality free for more than nine years at Sishen and two years at Kolomela
- Nine years of no level 4 - 5 health incidents
- 4% decrease in freshwater withdrawals to 6,971 megalitres
- R58.0 billion of enduring shared value created
Unlock full value of the core:
- Average realised free-on-board (FOB) export price of US$95 per wet metric tonne (wmt ^),
12% above benchmark
- Cost savings of R673 million, R5.1 billion saved since 2024
- Resilient adjusted EBITDA* margin of 46%, up from 41%
- Closing net cash* of R14.9 billion
Disciplined capital allocation:
- Return on capital employed (ROCE) of 46%, up from 41%
- Attributable free cash flow* of R12.0 billion, 17% lower
- Final cash dividend per share of R15.43 and total 2025 cash dividend per share of R32.03
CONSISTENT AND RESILIENT PERFORMANCE
Mpumi Zikalala, Kumba's Chief Executive, said: "Kumba delivered a solid performance, marked by an
improved realised price, marginal sales growth and disciplined capital allocation. Amidst an uncertain
global trade environment, Kumba's set of financial results reflects the resilience of our business and
our strategy.
"Earnings before interest, tax, depreciation and amortisation (EBITDA) of R31.9 billion at an EBITDA
margin of 46% and an attributable free cash flow of R12.0 billion, allowed the board to declare a final
cash dividend of R15.43 per share, bringing the total cash dividend for the full year to R32.03 per share
at a payout ratio of 70% of headline earnings.
"By delivering on our purpose of reimagining mining to improve people's lives, we created R58.0 billion
of enduring value in 2025 that benefits all our stakeholders. We also continue to unlock value for the
future through our ultra-high dense media separation (UHDMS) investment."
REVENUE
for the year ended 31 December 31 December
Rand million 2025 2024 % change
Revenue 70,077 68,529 2
EARNINGS PER SHARE
for the year ended 31 December 31 December
Rand per share 2025 2024 % change
Earnings
Basic 45.57 45.81 (1)
Diluted 45.43 45.70 (1)
Headline Earnings
Basic 45.97 38.94 18
Diluted 45.83 38.84 18
Dividend
Interim 16.60 18.77 (12)
Final 15.43 19.90 (22)
SALIENT FEATURES AND OPERATING STATISTICS
for the year ended 31 December 31 December
2025 2024 % change
Market information
Closing share price (Rand) 351 326 8
Market capitalisation (Rand million) 113,052 105,000 8
Net asset value attributable to
owners of Kumba (Rand per share)* 170.57 163.98 4
Operating statistics ('000 tonnes)**
Production 36,084 35,731 1
Sishen 25,289 25,661 (1)
Kolomela 10,795 10,070 7
Sales (export) 37,038 36,251 2
Sishen mine free-on-rail unit cost
(Rand per dry metric tonne)
Unit cost 673.32 675.60 -
Cash cost 529.50 531.30 -
Kolomela mine free-on-rail unit cost
(Rand per dry metric tonne)
Unit cost 520.64 667.99 (22)
Cash cost 374.21 404.00 (7)
^ Production and sales volumes, iron ore prices and C1 costs are reported in wmt. Kumba's product
has approximately 1.5% moisture.
* This constitutes pro forma financial information in terms of the JSE Limited Listings Requirements
and should be read in conjunction with the basis of preparation. Refer to supplementary
non-International Financial Reporting Standards financial measures and the corresponding report
on the assurance engagement, contained in the annual financial statements.
** Volumes are reported as wet metric tonnes. Product is shipped with approximately 1.5% moisture.
NOTICE OF FINAL CASH DIVIDEND DECLARATION
On 18 February 2026, the directors approved a gross final cash dividend of 1,543 cents per share on
the ordinary shares from profits accrued during the year ended 31 December 2025. The dividend has been
declared from income reserves.
The dividend will be subject to a dividend withholding tax of 20% for all shareholders who are not
exempt from or do not qualify for a reduced rate of withholding tax. The net dividend payable to
shareholders after withholding tax at a rate of 20%, amounts to 1,234.40 cents per share.
The issued share capital at the declaration date is 322,085,974 ordinary shares.
The salient dates are as follows:
Publication of declaration data Thursday, 19 February 2026
Last day for trading to qualify and participate in the final dividend Tuesday, 10 March 2026
Trading ex-dividend commences Wednesday, 11 March 2026
Record date Friday, 13 March 2026
Dividend payment date Monday, 16 March 2026
Share certificates may not be dematerialised or rematerialised between Wednesday, 11 March 2026 and
Friday, 13 March 2026 both days inclusive. Any change of address or dividend instructions must be
provided by the last day for trading.
EXTRACTS FROM THE AUDITED ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
This unaudited results announcement is the responsibility of the directors of the Company. The
information disclosed is only a summary of the information in the full audited financial statements
and does not contain full or complete details. The full audited annual financial statements should be
considered for any investment decisions. The audited annual financial statements for Kumba are available
for viewing via the JSE cloudlink at
https://senspdf.jse.co.za/documents/2026/JSE/ISSE/KIO/KumbaFY25.pdf and on the Company's website
http://www.angloamericankumba.com/investors/financial-results-centre.aspx.
The group and Company annual financial statements were audited by PricewaterhouseCoopers Inc. who
issued an unmodified audit opinion on these financial statements.
Their audit opinion, together with the accompanying annual financial statements, can be viewed on the
Company's website http://www.angloamericankumba.com/investors/financial-results-centre.aspx which also provides
more details on the key audit matter on pages 26 and 27 of the annual financial statements.
Any reference to future financial performance included in this announcement has not been audited or
reported on by the Company's external auditors.
This results announcement has been prepared in compliance with the JSE Limited Listing Requirements.
Kumba Iron Ore Limited is a member of the Anglo American plc group.
Directors
Non-executive: TP Goodlace (British/South African) (Chairperson), MS Bomela, RM Fernandes (Brazilian),
MA Goliath, A Jeawon, MA Jenkins, NB Langa-Royds, NV Mokhesi, SS Ntsaluba, MTS Walker (British)
Executive: ND Zikalala (Chief Executive), XF Mbambo (Chief Financial Officer)
Registered office: 144 Oxford Road, Rosebank, Melrose, 2196, South Africa
Transfer Secretaries: Computershare Investor Services Proprietary Limited, Rosebank Towers,
15 Biermann Avenue, Rosebank, 2196, South Africa, Private Bag X9000, Saxonwold, 2132
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)
For more information please visit: http://www.angloamericankumba.com
19 February 2026
Date: 19-02-2026 07:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
