REG - Valterra Platinum - Trading Statement

Valterra PlatinumAnnouncement

23/01/2026 09:45

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RNS Number : 1727Q  Valterra Platinum Limited  23 January 2026

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")

 

23 January 2026

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

Valterra Platinum trading statement for the twelve months ended 31 December
2025

 

Shareholders are advised that Valterra Platinum intends to release its results
for the twelve months ended 31 December 2025 ("the period") on the
Johannesburg Stock Exchange (JSE) News Service and the London Stock Exchange
(LSE) Regulatory News Services on 25 February 2026.

 

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 increase by between 85% and 105% compared to the twelve
months ended 31 December 2024 (the "prior period"). Headline earnings are
likely to be between R15.6 billion and R17.3 billion (R8.4 billion in the
prior period) and HEPS is expected to be between 5,941 cents per share and
6,588 cents per share (3,205 cents per share in the prior period); and

·    basic earnings and earnings per share ("EPS") for the period are
expected to have increased by between 105% and 125% compared to the prior
period. Basic earnings are likely to be between R14.5 billion and R15.9
billion (R7.1 billion in the prior period) and EPS is expected to be between
5,522 cents per share and 6,055 cents per share (2,683 cents per share in the
prior period).

 

The earnings for the period were positively impacted by a 26% stronger PGM
dollar basket price of $1,852 per PGM ounce, as well as the delivery of R5
billion operational cost reductions, more than offsetting the impact of
inflation and R1.7 billion one-off demerger related costs.  Sales volumes
were lower than the prior period as a result of the larger drawdown of excess
work-in-progress in the prior period and the significant flooding that
occurred at the Amandelbult Tumela mine in H1 2025 impacting mined and refined
output. The impact of the flooding at Amandelbult was partially offset by the
insurance proceeds received of R2.5 billion.

Basic earnings were impacted by R1.9 billion (or 725 cents per share)
non-recurring scrapping of assets related to the design and engineering work
for the SO(2) abatement plant at Mortimer Smelter and the Vaalkop Tailings
Storage Facility due to it being replaced by the Blinkwater Tailings Storage
Facility which will provide adequate future tailings capacity.

Taxation and royalties increased in line with increased earnings.

The financial information contained in this announcement has not been audited
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:
 

Leroy Mnguni

leroy.mnguni@valterraplatinum.com

 

Marcela Grochowina

marcela.grochowina@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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