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The dip in earnings and headline earnings per share is on account of several reasons.
SEATTLE (Scrap Monster): Johannesburg, South Africa-based Sibanye-Stillwater provided trading statement and operations update for the six-month period of the current year ended 30th June, 2022.
The company expects the earnings per share and headline earnings per share for H1 2022 to be between $0.26 and $0.29, compared with $0.58 for H1 2021. This represents a decline by 47% to 52% compared with the corresponding half-yearly period last year.
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The dip in earnings and headline earnings per share is on account of several reasons. The industrial action from early-March to mid-June this year, resulted in reduced gold production from its South African operations during Q2 this year. The flooding in Montana affected Stillwater operations for a period of seven weeks, thereby impacting the output from US PGM operations. The comparatively lower precious metals prices too contributed to the dip, the company press release noted.
The production from SA managed gold operations registered significant decline by 77% during the initial half of the year to 100,568 ounces. The recycling ounces fed during H1 2022 reported 10% decline, mainly due to ongoing global logistical constraints and reduction in mined concentrate volumes.
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