Merafe Resources Income Statement

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

Millions ZAR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Revenue	6,749	5,835	8,443	9,244	7,939	8,063
Revenue Growth	8.52%	-30.89%	-8.66%	16.44%	-1.53%	68.66%
Gross Profit	6,749	5,835	8,443	9,244	7,939	8,063
Other Operating Expenses	5,831	5,138	6,760	7,037	5,854	5,726
Operating Expenses	6,016	5,338	7,129	7,297	6,086	5,846
Operating Income	732.86	496.87	1,315	1,947	1,853	2,217
Interest Expense	-0.39	-0.11	-0.16	-1.52	-0.21	-0.09
Interest & Investment Income	24.92	33.22	35.86	0.21	0.46	13.57
Earnings From Equity Investments	14.09	13.17	20.12	19.08	3.94	0.61
Currency Exchange Gain (Loss)	-94.99	-165.17	29.32	99.38	68.31	104.31
Other Non Operating Income (Expenses)	34.13	34.13	62.05	39.59	24.34	-2.41
EBT Excluding Unusual Items	710.61	412.11	1,462	2,103	1,950	2,333
Asset Writedown	-125.42	-222.29	-575.43	-	-0.24	-5.82
Other Unusual Items	-	-	-	249.91	-	-
Pretax Income	585.19	189.82	886.35	2,353	1,949	2,327
Income Tax Expense	163.7	47.23	219.15	600.29	539.47	653.07
Net Income	421.5	142.59	667.21	1,753	1,410	1,674
Net Income to Common	421.5	142.59	667.21	1,753	1,410	1,674
Net Income Growth	133.37%	-78.63%	-61.94%	24.32%	-15.75%	-
Shares Outstanding (Basic)	2,499	2,499	2,499	2,499	2,499	2,506
Shares Outstanding (Diluted)	2,499	2,499	2,499	2,499	2,499	2,506
Shares Change	-	-	-	-	-0.28%	-0.18%
EPS (Basic)	0.17	0.06	0.27	0.70	0.56	0.67
EPS (Diluted)	0.17	0.06	0.27	0.70	0.56	0.67
EPS Growth	134.25%	-78.65%	-61.91%	24.29%	-15.54%	-

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Free Cash Flow	1,179	163.28	1,082	1,208	1,213	665.69
Free Cash Flow Per Share	0.47	0.07	0.43	0.48	0.49	0.27
Dividend Per Share	16.080	0.120	0.280	0.420	0.250	0.290
Dividend Growth	13300.00%	-57.14%	-33.33%	68.00%	-13.79%	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	10.86%	8.52%	15.57%	21.06%	23.34%	27.49%
Profit Margin	6.25%	2.44%	7.90%	18.96%	17.76%	20.76%
Free Cash Flow Margin	17.47%	2.80%	12.81%	13.07%	15.29%	8.26%
EBITDA	918.41	697.8	1,668	2,195	2,064	2,323
EBITDA Margin	13.61%	11.96%	19.75%	23.75%	25.99%	28.81%
D&A For EBITDA	185.55	200.93	353.45	248.35	210.84	106.37
EBIT	732.86	496.87	1,315	1,947	1,853	2,217
EBIT Margin	10.86%	8.52%	15.57%	21.06%	23.34%	27.49%
Effective Tax Rate	27.97%	24.88%	24.72%	25.51%	27.67%	28.07%