CEO COMMENTARY ON RESULTS

The COVID-19 pandemic has destabilised the global health systems and disrupted economies. This pandemic coupled with an already fragile operating environment have resulted in a loss after tax for the 2020 financial year mainly due to a significant impairment loss on property, plant and equipment in the first half of the year. A slow-down in global economic activity has contributed to not only reduced volumes of commodities sold, but also to lower realised cost, insurance and freight (“CIF”) ferrochrome and chrome ore prices with a weaker Rand:US$ exchange rate that provided some cushion to the loss. Due to this, the board of directors (“Board”) has resolved not to declare a dividend for the year ended 31 December 2020.


2020 year in review

KEY FEATURES

52% increase in TRIFR to
3.89
(2019: 2.56)

 

29% decrease in ferrochrome
production to 265kt
(2019: 371kt)


76% decrease in headline loss per
share to 0.8 cents
(2019: 3.4* cents)

 

26% decrease in basic loss per
share to 40.0 cents
(2019: 54.2 cents)

 




VIEW FULL KEY FEATURES