South Africa · Delayed Price · Currency is ZAR · Price in ZAc Gemfields Group Earnings Call Transcripts
Fiscal Year 2025
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2025 saw sharply lower revenues and earnings due to market, operational, and geopolitical disruptions, but cost controls, asset sales, and strategic actions have positioned the group for recovery in 2026. Key risks remain around fuel supply and global instability.
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H1 2025 saw revenue and EBITDA losses due to operational suspensions, civil unrest, and weak demand, but recent rights issue and asset sales have improved liquidity. Kagem and MRM production are recovering, with new plant ramp-up expected to boost output and efficiency.
Fiscal Year 2024
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Revenue and EBITDA declined sharply in 2024 due to oversupply, market softness, and operational challenges. A $30 million rights issue is proposed to address working capital needs and complete the transformational PP2 project, with cost reductions and improved outlook expected in 2025.
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Revenue for H1 2024 was $128 million, with EBITDA of $50 million and a margin of 38.8%. Heavy investment continues, especially at MRM, with a new processing plant on track for H1 2025. Premium gemstone prices remain robust, but net debt is expected to rise during this growth phase.