[SMM Precious Metals Express]

Published: Sep 4, 2026 15:49

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Implats officially released its FY2026 annual results ending June on September 3. Driven by a broad-based recovery in PGM and base metal prices, higher refined output and operational improvements, the group’s financial performance staged a sharp turnaround from the prior year’s trough. Full-year revenue rose 58% year-on-year to ZAR 135.1 billion, while EBITDA surged from approximately ZAR 9.9 billion in FY2025 to ZAR 43.6 billion, more than a fourfold increase. Core earnings jumped from ZAR 732 million to ZAR 22.9 billion. Free cash flow reached ZAR 22 billion, with adjusted net cash at year-end also standing at ZAR 22 billion.

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