REG - Valterra Platinum - Trading Statement

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RNS Number : 6466R  Valterra Platinum Limited  18 July 2025

Trading Statement

 

Valterra Platinum Limited

(previously Anglo American Platinum Limited)

(Incorporated in the Republic of South Africa)

(Registration number: 1946/022452/06)

JSE Share Code: VAL

LSE Share Code: VALT

ISIN: ZAE000013181

("The Company" or "Valterra Platinum")

 

18 July 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

Valterra Platinum trading statement for the six months ended 30 June 2025

 

Shareholders are advised that Valterra Platinum intends to release its results
for the six months ended 30 June 2025 ("the period") on the Johannesburg Stock
Exchange (JSE) News Service and the London Stock Exchange (LSE) Regulatory
News Services on 28 July 2025.

 

In accordance with section 3.4(b) of the JSE Limited Listings Requirements,
shareholders are advised that the financial results for the period are
expected to differ from the financial results of the previous corresponding
period as follows:

·      headline earnings and headline earnings per share ("HEPS") for
the period are expected to have decreased by between 76% and 88% compared to
the six months ended 30 June 2024 (the "prior period"). Headline earnings are
likely to be between R0.8 billion and R1.6 billion (R6.5 billion in the prior
period) and HEPS is expected to be between 305 cents per share and 590 cents
per share (2,456 cents per share in the prior period); and

·      basic earnings and earnings per share ("EPS") for the period are
expected to have decreased by between 86% and 98% compared to the prior
period. Basic earnings are likely to be between R0.1 billion and R0.9 billion
(R6.3 billion in the prior period) and EPS is expected to be between 49 cents
per share and 343 cents per share (2,402 cents per share in the prior period).

 

The decrease in earnings for the first half of 2025 compared to the prior
period is primarily due to a 25% decline in PGM sales volumes (excluding sales
from trading) as well as R1.4 billion in one-off demerger related costs. The
decline in sales volumes reflects lower refined production as a consequence of
lower M&C production due to significant rainfall and flooding in February
that disrupted operations at Tumela mine at Amandelbult, the drawdown of
excess work-in-progress in the prior period and the three yearly stock count
at the Precious Metals Refinery. Own mines production for the first half of
2025, excluding Amandelbult, was in line with the prior period. We remain on
track to deliver M&C production within guidance after factoring in the
Amandelbult flooding impact, albeit at the lower end. Refined production
guidance of 3.0-3.4 million PGM ounces remains unchanged.

The decline in earnings was partially offset by cost savings of R2.1bn
achieved in the period.

 

Basic earnings were further impacted by a R0.9 billion (or 250 cents per
share) assets scrapping, mainly relating to the design and engineering work
for the SO(2) abatement plant at Mortimer Smelter, following the decision to
place Mortimer Smelter on care and maintenance.  Taxation and royalties
declined in line with lower profits.

 

The financial information contained in this announcement has not been reviewed
or reported on by the Company's auditors.

JSE sponsor:

Merrill Lynch South Africa (Pty) Ltd t/a BofA Securities

 

For further information, please contact:

 

Company Secretary

Fiona Edmundson

fiona.edmundson@valterraplatinum.com

 

Investors:

Theto
Maake

theto.maake@valterraplatinum.com

 

Marcela Grochowina

marcela.grochowina@valterraplatinum.com

 

Leroy Mnguni

leroy.mnguni@valterraplatinum.com

 

Media:

Cindy Maneveld

cindy.maneveld@valterraplatinum.com

 

About Valterra Platinum

Valterra Platinum Limited is one of the world's leading integrated producers
of platinum group metals (PGMs) with a primary listing on the Johannesburg
Stock Exchange and a secondary listing on the London Stock Exchange. With a
portfolio of world class, long-life mines and the most efficient processing
assets in the industry, the company responsibly mines, smelts and refines PGMs
and associated co-products from its operations located in South Africa and
Zimbabwe. With its integrated value chain, supported by marketing hubs in
London, Singapore and Shanghai, the company delivers tailored solutions for
its customers. The Company continues to integrate sustainability into
everything it does, supports investment in its mining and processing
capabilities and pursues market development activities to grow and
commercialise new demand segments. It also makes a meaningful impact to
communities around its operations and will deliver consistent and superior
returns to shareholders. Valterra Platinum is committed to zero harm, capital
allocation discipline and delivering on our value-accretive strategic
priorities as a standalone, leading integrated PGM producer, guided by our
purpose of unearthing value to better our world

 

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