REG - Gemfields Group Ltd - Interim Report for the six months to 30 June 2025

GemfieldsAnnouncement

26/09/2025 07:00

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RNS Number : 9090A  Gemfields Group Limited  26 September 2025

Incorporated in Guernsey. Guernsey registration Number: 47656.

South African external company registration number 2009/012636/10

Share code on JSE:GML (General Segment of JSE Main Board) / AIM:GEM

    ISIN: GG00BG0KTL52   |   LEI: 21380017GAVXTCYS5R31

("Gemfields" or the "Company")

 

Reviewed Interim Report for the six months to 30 June 2025

LONDON, 26 SEPTEMBER 2025

Gemfields announces the Company's financial results for the six months to 30
June 2025 ("2025 Interim Results").

Summarised Results:

·    Total revenue for the six months to 30 June 2025 of USD 64.2 million.

·    EBITDA loss for the six months to 30 June 2025 of USD (4.9) million.

·    Free cash flow before working capital movements for the six months to
30 June 2025 of USD (22.1) million due to significantly lower auction revenue
and substantial capital expenditure at Montepuez Ruby Mining ("MRM") in
Mozambique.

·    The Group's net debt position at 30 June 2025 was USD 61.2 million
(before USD 16.1 million of auction receivables and which are now 100%
collected).

Sean Gilbertson, CEO of Gemfields, commented:

"This has been a challenging first half marked by gemstone production
difficulties at both mines. MRM experienced lower premium ruby output while
Kagem Mining ("Kagem") suspended mining altogether at the end of 2024, with
limited operations resuming only in May 2025. The beginning of the year was
also marred by civil unrest in Mozambique following the disputed general
election and the surprise implementation of the 15% export duty on emeralds in
Zambia, a matter since resolved. These factors contributed to short-term cash
flow pressures and certainly tested the team and the business. However, a
series of difficult decisions has yielded a more streamlined and focussed
organisation with, thanks to the support of our shareholders via the rights
issue, a stronger balance sheet, all of which put us on a better footing for
the year ahead. Significantly, our new processing plant in Mozambique produced
its first rubies earlier this month and is expected to be fully operational
during October."

 

 

Financial and Operating Results

                                                   Six months to 30 June 2025(1)  Six months to 30 June 2024(1)
                                                   USD'000                        USD'000
 Revenue                                           64,200                         121,407
 EBITDA(2)                                         (4,943)                        50,312
 (Loss)/profit from operations                     (21,255)                       27,405
 Net (loss)/profit                                 (24,576)                       13,659
 (Loss)/profit attributed to owners of the parent  (20,468)                       7,350

                                                   USD cents                      USD cents
 (Loss)/earnings per share                         (1.7)                          0.6
 Headline (loss)/earnings per share                (1.5)                          0.6
 Adjusted Headline (loss)/earnings per share       (1.5)                          1.0
 Dividend per share (3)                            -                              0.86

                                                   USD'000                        USD'000
 Net Asset Value (Parent only)                     357,235                        435,257
 Net (debt) / cash                                 (61,216)                       (44,395)

( )

(1) Fabergé meets the criteria to be classified as a disposal group held for
sale as at 30 June 2025 under IFRS 5 'Noncurrent Assets Held for Sale and
Discontinued Operations'. Accordingly, its results are presented as part of
discontinued operations and have been removed from financial and operating
results.

 

(2) Earnings before interest, taxation, depreciation and amortisation,
adjusted to exclude one-off impairments made to the Group's noncurrent assets,
inventory, fair value gains or losses on the Group's non-core equity
investments, share based payments, other impairments and provisions.

 

(3) Dividend paid in the period (USD 10 million dividend paid in June 2024
rounded to two decimal points).

The content of this short-form announcement is the responsibility of the
Board. Shareholders are advised that this short-form announcement represents a
summary of the information contained in the full announcement and does not
contain full or complete details of the financial results.

Any investment decision by investors and/or shareholders should be based on
the consideration of the full announcement as a whole and shareholders are
encouraged to review the full announcement available for viewing on the
Company's website: www.gemfieldsgroup.com (http://www.gemfieldsgroup.com)

The results can also be accessed by following the link below:

https://senspdf.jse.co.za/documents/2025/jse/isse/GMLE/Interim25.pdf
(https://senspdf.jse.co.za/documents/2025/jse/isse/GMLE/Interim25.pdf)

The full announcement may also be requested at Gemfields' registered office,
PO Box 186, Royal Chambers, St. Julian's Avenue, St Peter Port, Guernsey, GY1
4HP, at no charge, during office hours. Investors and/or shareholders may also
request copies of the full announcement from Investor Relations via
ir@gemfields.com (mailto:ir@gemfields.com) .

The short-form announcement has itself not been audited or reviewed. However,
the financial information included herein has been extracted from the interim
financial statements which have been reviewed by the Company's auditors, Ernst
& Young LLP. The auditors report on the financial statements is not
qualified.

Shareholder and analyst webcast

There will be a shareholder and analyst webcast today at 09:00am (UK) / 10:00
am (South Africa). Sean Gilbertson (CEO) and David Lovett (CFO) will present
the Company's 2025 Interim Results.

The Company will host a question and answer session following the
presentation. Should you wish to ask a question, please either email your
questions in advance to ir@gemfields.com (mailto:ir@gemfields.com) or use the
'Ask a question' link on the webcast page during the event.

Shareholders who wish to watch the webcast are requested to register via the
link below:

Gemfields Group Limited - Half Year Results 2025 | SparkLive | LSEG
(https://url.uk.m.mimecastprotect.com/s/TEoJCKZKEH89J6PHvh7t5QAok?domain=sparklive.lseg.com)

Should you have any further queries with regards to the proceedings of the
event, please contact Investor Relations (ir@gemfields.com
(mailto:ir@gemfields.com) ).

 

-ENDS-

 

Further information on Gemfields Group Limited can be found at:

 GEMFIELDSGROUP.COM (http://WWW.GEMFIELDSGROUP.COM)

 

To join our investor mailing list, contact us on:
ir@gemfields.com (mailto:ir@gemfields.com)

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) no. 596/2014 which forms part of domestic UK
law pursuant to the European Union (withdrawal) act 2018 ("MAR").

 

 

 

 

ENQUIRIES

 

 

 GEMFIELDS                                      Sean Gilbertson / David Lovett / Heinrich Richter

                                                ir@gemfields.com (mailto:ir@gemfields.com)

T:  +44(0) 20 7518 3400
 SPONSOR (JSE)                                  Investec Bank Limited
 NOMINATED ADVISER                              Panmure Liberum

(AIM) & BROKER
Scott Mathieson / Amrit Mahbubani /  John More
                                                T: +44(0) 20 3100 2222
 PRESS ENQUIRES, GEMFIELDS HEAD OFFICE, LONDON  Helena Choudhury / Albertina Namburete

                                                helena.choudhury@gemfields.com (mailto:helena.choudhury@gemfields.com)
                                                (mailto:helena.choudhury@gemfields.com) /
                                                (mailto:helena.choudhury@gemfields.com) albertina.namburete@gemfields.com
                                                (mailto:albertina.namburete@gemfields.com)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ADDITIONAL INFORMATION ON GEMFIELDS

Gemfields is a world-leading responsible miner and marketer of coloured
gemstones. Gemfields is the operator and 75% owner of both Kagem Mining in
Zambia (a world-leading emerald mine) and Montepuez Ruby Mining in Mozambique
(situated on one of the most significant recently discovered ruby deposits in
the world). In addition, Gemfields also holds controlling interests in various
other gemstone mining and prospecting licences in Zambia, Mozambique, Ethiopia
and Madagascar.

 

Gemfields has developed a proprietary grading system and a pioneering auction
platform to provide a consistent supply of coloured gemstones to downstream
markets, a key component of Gemfields' business model that has played an
important role in the growth of the global coloured gemstone sector.

 

 

 

 

GEMFIELDS

GEMFIELDS.COM (https://gemfields.com/) (https://gemfields.com/) | INVESTORS
(https://www.gemfieldsgroup.com/) (https://www.gemfieldsgroup.com/)
|FOUNDATION (https://www.gemfieldsfoundation.org/)

INSTAGRAM (https://www.instagram.com/gemfields/)
(https://www.instagram.com/gemfields/) | FACEBOOK
(https://www.facebook.com/Gemfields/) (https://www.facebook.com/Gemfields/) |
X (https://x.com/GemfieldsLtd?lang=en) | YOUTUBE
(https://www.youtube.com/channel/UCArCE0JFtakTP-tHq6v0KVg)

KAGEM MINING LINKEDIN (https://www.linkedin.com/company/kagem-mining-ltd)

MONTEPUEZ RUBY MINING LINKEDIN
(https://www.linkedin.com/company/montepuez-ruby-mining)

 

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