Merafe Resources Limited –
Unaudited Condensed Consolidated Financial Statements and cash dividend declaration
for the six months ended 30 June 2026
Delivering today. Investing in tomorrow.
Fatality
None
(June 2025: no fatalities)
24% improvement in TRIFR1 to
1.36
(December 2025: 1.79)
75% decrease in ferrochrome production to
28kt
(June 2025: 112kt)
4% decrease in ferrochrome sales volumes to
73kt
(June 2025: 76kt)
75% increase in chrome ore sales volumes to
380kt
(June 2025: 217kt)
4% decrease in Platinum Group Metals (PGMs) sales volumes to
6.8koz
(June 2025: 7.1koz)
36% increase in revenue to
R3 433 million
(June 2025: R2 519 million)
64% increase in headline earnings per share
20.7 cents
(June 2025: 12.6 cents)
120% increase in basic earnings per share to
20.5 cents
(June 2025: 9.3 cents)
7% increase in net asset value to
R5 031 million
(December 2025: R4 719 million)
60% increase in EBITDA2 to
R774 million
(June 2025: R4833 million)
Significant increase in net cash generated from operating activities to
R976 million
(June 2025: R175 million3 net cash utilised in operating activities)
38% increase in cash and balances held with Central Treasury to
R1 591 million
(December 2025: R1 156 million)
Interim gross cash dividend of
16 cents per share
(June 2025: 4 cents per share)
| 1 | Total recordable injury frequency rate. |
| 2 | Earnings before interest, tax, depreciation and amortisation. |
| 3 | Restated. Refer to note 12. |
