Valterra Platinum Reports Stellar Profit Growth in First Full Year as Independent Entity

Valterra Platinum's first full year as an independent firm saw headline earnings nearly double to 16.7B rand, driven by a 22% price rise and 5B rand in savings, enabling a 12B rand shareholder payout.

Valterra Platinum, the newly independent company formerly part of Anglo American, has announced a dramatic surge in profitability for the 2025 financial year. The platinum group metals (PGM) producer managed to nearly double its earnings, a feat achieved despite a contraction in sales volume, thanks to a favorable pricing environment and rigorous cost discipline.

Strategic Cost Cuts and Favorable Prices Drive Performance

The company's first complete annual results since its separation from Anglo American plc in May of last year reveal a powerful financial turnaround. Earnings before interest, taxes, depreciation, and amortization (EBITDA) surged by 68% to 33.4 billion rand. This impressive growth occurred even as the volume of metal sold declined by 15% year-on-year.

Two primary factors compensated for the lower sales. First, the realized basket price for PGMs increased by 22%, reaching an average of 32,611 rand per ounce sold. Second, a strict cost-reduction initiative, implemented as part of the corporate restructuring, yielded savings of 5 billion rand. Consequently, the headline earnings—a key profit metric for South African firms—soared by 98% to 16.7 billion rand.

Shareholders Reap Rewards Through Substantial Payouts

The robust cash generation has led to a highly generous return of capital to investors. For the 2025 fiscal year, the board has declared a final dividend of 11.5 billion rand. This translates to 43 rand per share, comprising a base dividend of 23 rand and a special dividend of 20 rand.

In total, shareholder distributions for the full year amount to 45 rand per share. The total payout of 12 billion rand represents 71% of the company's headline earnings. Management attributed the capacity for such significant returns to the completion of its internal restructuring and its secondary listing on the London Stock Exchange.

A New Corporate Identity and Stable Outlook

The rebranding to Valterra Platinum concludes a strategic shift to separate South African precious metal assets from globally diversified mining portfolios. Looking ahead to the 2026 operational year, the company's leadership anticipates stable performance.

Production targets for both PGM concentrate and refined metal are set within a range of 3.0 to 3.4 million ounces each. Market observers continue to base their positive expectations on constrained global supply, noting that South Africa accounts for approximately 80% of the world's PGM production.