South Africa · Delayed Price · Currency is ZAR · Price in ZAc Merafe Resources Earnings Call Transcripts
Fiscal Year 2026
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Revenue declined 31% year-over-year due to lower ferrochrome production and prices, while chrome ore and PGM revenues rose on higher volumes and prices. EBITDA dropped 66%, and profit after tax was ZAR 143 million. Final dividend declared at ZAR 0.08 per share.
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Profits and revenue rose sharply year-over-year, driven by higher chrome ore volumes and prices, despite operational volatility and cost pressures. Smelter restarts and a favorable electricity tariff are expected to boost production, though market and cost challenges persist.
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Revenue declined 9% year-over-year due to lower ferrochrome prices and volumes, while EBITDA dropped 27%. A business review is underway as smelting operations are loss-making at current prices, with potential for increased chrome ore exports and further cost management.
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Revenue was flat at ZAR 4.7bn, with lower ferrochrome output and earnings, but higher chrome ore and PGM sales. New inflation-linked Eskom tariff brings pricing certainty, while cost pressures and safety incidents persist. Interim dividend of ZAR 0.20/share declared.
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Revenue fell 47% year-over-year due to lower ferrochrome volumes and prices, with headline EPS down 55%. Smelter suspensions shifted focus to chrome ore sales and mining, while cost pressures and market uncertainty persist. Interim dividend declared at ZAR 0.04 per share.