Merafe Resources Income Statement

Financials in millions ZAR. Fiscal year is January - December.

Millions ZAR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	5,796	8,443	9,244	7,939	8,063
Other Revenue	40	-	-	-	-
Revenue	5,836	8,443	9,244	7,939	8,063
Revenue Growth (YoY)	-30.88%	-8.66%	16.44%	-1.53%	68.66%
Cost of Revenue	5,069	-	-	-	-
Gross Profit	767	8,443	9,244	7,939	8,063
Selling, General & Admin	69	-	-	-	-
Other Operating Expenses	-	6,727	7,037	5,854	5,726
Operating Expenses	493	7,096	7,297	6,086	5,846
Operating Income	274	1,348	1,947	1,853	2,217
Interest Expense	-	-0.16	-1.52	-0.21	-0.09
Interest & Investment Income	67	2.76	0.21	0.46	13.57
Earnings From Equity Investments	13	20.12	19.08	3.94	0.61
Currency Exchange Gain (Loss)	-165	29.32	99.38	68.31	104.31
Other Non Operating Income (Expenses)	1	62.05	39.59	24.34	-2.41
EBT Excluding Unusual Items	190	1,462	2,103	1,950	2,333
Asset Writedown	-	-575.43	-	-0.24	-5.82
Other Unusual Items	-	-	249.91	-	-
Pretax Income	190	886.35	2,353	1,949	2,327
Income Tax Expense	47	219.15	600.29	539.47	653.07
Net Income	143	667.21	1,753	1,410	1,674
Net Income to Common	143	667.21	1,753	1,410	1,674
Net Income Growth	-78.57%	-61.94%	24.32%	-15.75%	-
Shares Outstanding (Basic)	-	2,499	2,499	2,499	2,506
Shares Outstanding (Diluted)	-	2,499	2,499	2,499	2,506
Shares Change (YoY)	-	-	-	-0.28%	-0.18%
EPS (Basic)	-	0.27	0.70	0.56	0.67
EPS (Diluted)	-	0.27	0.70	0.56	0.67
EPS Growth	-	-61.91%	24.29%	-15.54%	-
Free Cash Flow	-	1,115	1,208	1,213	665.69
Free Cash Flow Per Share	-	0.45	0.48	0.49	0.27
Dividend Per Share	0.120	0.280	0.420	0.250	0.290
Dividend Growth	-57.14%	-33.33%	68.00%	-13.79%	-
Gross Margin	13.14%	100.00%	100.00%	100.00%	100.00%
Operating Margin	4.70%	15.96%	21.06%	23.34%	27.49%
Profit Margin	2.45%	7.90%	18.96%	17.76%	20.76%
Free Cash Flow Margin	-	13.21%	13.07%	15.29%	8.26%
EBITDA	627.45	1,701	2,195	2,064	2,323
EBITDA Margin	10.75%	20.15%	23.75%	25.99%	28.81%
D&A For EBITDA	353.45	353.45	248.35	210.84	106.37
EBIT	274	1,348	1,947	1,853	2,217
EBIT Margin	4.70%	15.96%	21.06%	23.34%	27.49%
Effective Tax Rate	24.74%	24.72%	25.51%	27.67%	28.07%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.