By Joe Hoppe and Ian Walker
Sibanye-Stillwater Ltd. on Tuesday reported a near-halved net profit for 2022, attributing it to a number of factors including industrial action, bad weather and the challenging macroeconomic and geopolitical environment as previously flagged.
The South African precious-metals mining company made a net profit of $1.13 billion for the year ended Dec. 31 compared with $2.23 billion in 2021.
Adjusted earnings before interest, taxes, depreciation and amortization--one of the company's preferred metrics which strips out exceptional and other one-off items--fell to $2.51 billion from $4.64 billion.
Headline earnings per share were 40 cents compared with 86 cents in 2021 and guidance of between 38 cents and 42 cents provided last week.
The company declared a final dividend of 1.22 South African Rand a share, or 26.98 U.S. cents an American Depositary Share. This compares with ZAR1.87 a share, or 48.68 cents in 2021.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
02-28-23 0738ET