South Africa's Sylvania Platinum Q4 revenue falls on lower prices

Sylvania Platinum

31/07/2026 07:17

Overview
South Africa PGM and chrome producer's Q4 revenue fell 38% quarter-on-quarter on lower basket prices
Adjusted Group EBITDA dropped 65% as lower prices and higher costs weighed on margins
Company achieved record annual 4E PGM production, exceeding prior guidance

Outlook
SDO expected to continue strong performance in Q1 FY2027
Company focusing on refining Thaba JV resource model and updating mine plan
Company expects improved ore supply and processing stability at Thaba JV

Result Drivers
LOWER PGM PRICES - Co said a 25% decrease in the 4E gross basket price was the primary driver of lower revenue and EBITDA
HIGHER OPERATING COSTS - Direct operating costs rose 8% due to higher mining, diesel, and electricity expenses, mainly at Thaba JV
THABA JV CHALLENGES - Chrome production at Thaba JV declined 6% due to slower mining progress, ore quality variability, and weather disruptions

Company press release: ID:nRSe7273Oa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
 
$48.5 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the non-gold precious metals & minerals peer group is "buy"
Wall Street's median 12-month price target for Sylvania Platinum Ltd is GBp170.00, about 107.3% above its July 30 closing price of GBp82.00
The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 3 three months ago

Reuters Recommended Reads
July 29 - Valterra profit leaps on higher prices, sees AI driving future platinum demand
July 30 - Anglo American's HY revenue rises 11% but misses estimates
July 29 - Canada's Ivanhoe Mines Q2 profit rises on higher zinc and sulphuric acid prices

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)