Sibanye Stillwater Posts Record Earnings Amid Strong Metal Prices and Debt Reduction
On September 1, Sibanye Stillwater (NYSE:SBSW) reported a significant jump in revenue to R90 billion ($5.5 billion), with headline earnings per share rising by 216% year-over-year. The company turned around from a loss of R3.9 billion in the first half of 2025 to an impressive profit of R18.8 billion, driven largely by higher prices for platinum group metals and gold. The windfall was used primarily to reduce debt rather than expand aggressively. Gross debt fell by 18% to R32.1 billion, with liquidity at a strong R47.6 billion split between cash reserves and undrawn credit facilities. The board declared an interim dividend of R2.01 per share, aligning with its payout policy. Despite the positive financials, operational challenges persist in South Africa where PGM production dipped slightly due to weaker surface output and rising costs from royalties and maintenance. In the US, labor issues at Stillwater are delaying mechanization plans, which could impact long-term cost efficiency.
Tickers: $SBSW
Topics: capital allocation debt reduction dividend declaration earnings revenue growth