South Africa · Delayed Price · Currency is ZAR · Price in ZAc Tharisa Earnings Call Transcripts
Fiscal Year 2025
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FY2025 saw robust revenue and profit growth, driven by higher PGM prices and operational efficiency, with major progress on underground and Karo projects. Capital discipline was maintained, and significant investments in technology and sustainability were advanced.
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A phased transition to underground mining is underway, targeting enhanced efficiency, safety, and long-term value. The project is financially robust, with steady-state output expected to exceed 200,000 PGM ounces and 2 million tons of chrome by 2033, while maintaining strong ESG and community commitments.
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Revenue and EBITDA declined year-over-year due to lower PGM and chrome prices and output, but cash generation and a strong balance sheet enabled continued investment and shareholder returns. Guidance is maintained, with optimism for improved H2 performance and positive market outlook for PGMs and chrome.
Fiscal Year 2024
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Record revenue and strong operational cash flow were achieved despite lower PGM prices, with chrome driving profitability and continued investment in growth and innovation. Guidance for FY25 remains robust, supported by a healthy balance sheet and disciplined capital allocation.