Results for the six months ended 30 June 2021 – Short form announcement
Sibanye Stillwater Limited
Incorporated in the Republic of South Africa
Registration number 2014/243852/06
Share codes: SSW (JSE) and SBSW (NYSE)
ISIN – ZAE000259701
Issuer code: SSW
(“the Company / Sibanye-Stillwater”)
Website: www.sibanyestillwater.com
Results for the six months ended 30 June 2021 – Short form announcement
Johannesburg, 26 August 2021: Sibanye Stillwater (Tickers JSE: SSW and NYSE: SBSW) is pleased
to report operating and financial results for the six months ended 30 June 2021.
SALIENT FEATURES FOR THE SIX MONTHS ENDED 30 JUNE 2021
• Profit attributable to shareholders of R24.8bn (US$1.7bn)
• Record Adjusted Free Cash Flow (AFCF) of R17.3bn (US$1.2bn) – a 59% increase from R10.9bn
(US$655m) for H1 2020 • Interim dividend of ~R8.5bn (US$565m) – 292 SA cps (77.21 US cents per ADR). Annualised dividend yield of 10%* • Continued capital allocation discipline – Borrowings (excl. non-recourse)** reduced by R12.2bn (US$508m) to R15.9bn (US$1.1bn) at the end of H1 2021 (vs H1 2020) – Further R5.0bn (US$354m) reduction from corporate bond buyback on 2 August 2021 – Share buyback program (5% of issued share capital) returning ~R9.6bn (US$700m) surplus cash to shareholders, once completed, will further enhance shareholder returns * Based on the closing share price of R59.66 at 30 June 2021 ** Refer note 10.2 (footnote 1) of the condensed consolidated interim financial statements KEY OPERATING RESULTS US dollar SA rand Six months ended Six months ended Jun Dec Jun Jun Dec Jun 2020 2020 2021 KEY STATISTICS 2021 2020 2020 UNITED STATES (US) OPERATIONS PGM underground operations1,2 9,497 9,261 297,740 305,327 298,301 oz 2E PGM production2 kg 9,278 US$/2Eo 32,026 30,621 1,837 1,970 2,286 z Average basket price R/2Eoz 33,261 332 409 437 US$m Adjusted EBITDA3 Rm 6,358 6,660 5,544 60 63 65 % Adjusted EBITDA margin3 % 65 63 60 US$/2Eo 14,342 14,429 866 882 973 z All-in sustaining cost4 R/2Eoz 14,153 PGM recycling1,2 3E PGM 13,769 12,363 397,472 442,698 402,872 oz recycling2 kg 12,531 US$/3Eo Average basket 36,357 52,661 2,238 2,236 3,159 z price R/3Eoz 45,963 Adjusted 421 458 27 26 50 US$m EBITDA3 Rm 733 Adjusted EBITDA 4 3 3 4 4% margin3 % 4 Net interest 113 68 4 7 12 US$m received Rm 171 Profit before 532 523 31 33 62 US$m tax Rm 903 SOUTHERN AFRICA (SA) OPERATIONS PGM operations 2630,912 895,459 894,165 oz 4E PGM production2,5 kg 27,812 27,852 […]