Sibanye Stillwater Swings to Stronger H1 2025 Earnings on Restructuring, Tax Credits

Published: Sep 2, 2025 19:00

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Sibanye Stillwater released its 2025 Q2 Results Booklet on 28th August. For the six months ended June 30, 2025, Sibanye Stillwater reported headline earnings of R5.4bn (US$292m), up 19-fold year-on-year, compared with a basic loss of R3.6bn (US$194m) after R9.7bn (US$526m) in impairments. The turnaround was driven by a R5.1bn (US$285m) S45X10 credit and restructuring of its U.S. PGM operations. Group adjusted EBITDA rose 127% to R15.1bn (US$818m), with net debt to EBITDA improving to 0.89x from 1.79x at end-2024. The company signaled a positive outlook for earnings and cash flow.

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