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IMPALA PLATINUM HOLDINGS LIMITED - Trading statement for the half year ended 31 December 2018

Release Date: 04/02/2019 08:00
Code(s): IMP     PDF:  
Wrap Text
Trading statement for the half year ended 31 December 2018

(Incorporated in the Republic of South Africa)
(Registration number 1957/001979/06)
JSE Share code: IMP
ISIN: ZAE000083648
(“Implats” or “the Group”)


Implats will release results for the half year ended 31 December 2018 (“the period”) on 28 February 2019.

With reference to the Listings Requirements of the JSE Limited, issuers must publish a trading statement on
SENS as soon as they become reasonably certain that financial results for the next reporting period will differ
by at least 20% from those of the previous corresponding reporting period.

Operational performance

The Group’s refined platinum production for the period is expected to increase by 10% to 800 koz from
727 koz for the half year ended 31 December 2017 (“the comparative period”). The increase in refined
platinum production is primarily due to a stock release of circa 44 koz platinum and improved performance
from Impala Rustenburg. During the comparative period, refined production was impacted by an inventory
build-up following furnace maintenance undertaken during that period.

Platinum sales volumes are expected to increase by 19% to 773 koz from 649 koz. In the comparative period,
sales volumes were lower than refined metal, primarily due to toll metal of 116 koz returned to a third party.

Expected headline and basic earnings

Due to an improved rand PGM basket price, as well as improved safety and operational performances,
Implats is expecting to report both positive basic and headline earnings for the period, compared to losses in
the comparative period.

Shareholders are advised that Implats has reasonable certainty that headline earnings and headline earnings
per share for the period are expected to increase to at least R2.1 billion or 292 cents per share. Headline loss
and headline loss per share for the comparative period were R150 million and 21 cents per share,

Similarly, basic earnings and basic earnings per share for the period are also expected to increase to at least
R2.1 billion or 292 cents per share compared to a basic loss and basic loss per share for the comparative
period of R163 million and 23 cents per share, respectively.

There is not sufficient certainty at this stage to enable Implats to provide specific guidance ranges on its
expected results. Implats will publish a further trading statement closer to the release of its interim financial

The financial information on which this trading statement is based has not been reviewed and reported on
by the external auditors of Implats.


Johan Theron
T: +27 (0) 11 731 9013/43
M: +27 (0) 82 809 0166

Alice Lourens
T: +27 (0) 11 731 9033/43
M: +27 (0) 82 498 3608

4 February 2019

Sponsor to Implats
Nedbank Corporate and Investment Banking

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