2024

Merafe Resources Limited
Summarised consolidated financial statements for the year ended 31 December 2024

Delivering today. Investing in tomorrow.

2024 financial year in review

Financial

9% decrease in revenue

R8 443 million

(2023: R9 244 million)

29% decrease in headline earnings per share

42.9cps

(2023: 60.1cps)

62% decrease in basic earnings per share to

26.7cps

(2023: 70.1cps)

64% decrease in the final cash dividend to

8cps

(2023: 22cps)

7% decrease in net asset value to

R4 876 million

(2023: R5 259 million)

32% decrease in EBITDA1

R1 731 million

(2023: R2 545 million)

5% decrease in net cash from operating activities to

R1 777 million

(2023: R1 879 million)

8% increase in cash balance

R1 795 million

(2023: R1 656 million)

Safety

1% decrease in TRIFR2 to

2.31

(2023: 2.34)

Fatality

1

(2023: 2)

Operational

1% increase in chrome ore sales volume to

475kt

(2023: 470kt)

0.3% increase in ferrochrome production to

301kt

(2023: 300kt)

106% increase in Platinum Group Metals (PGMs) sales volume

13 557oz

(2023: 6 588oz)

2%

increase in ferrochrome production cost per tonne

(2023: 28%)

1 Earnings before interest, taxation, depreciation and amortisation.
2 Total recordable injury frequency rate.