Sylvania Platinum Limited’s Q424 results were negatively affected by a delayed recovery in production following the 22-day strike during Q324. This resulted in 21% lower revenue than expected and EBITDA of only US$2.8m, 68% below Edison Group’s expectation. Edison have reduced their near-term platinum group metals (PGM) price assumptions on the back of elevated surface inventories and sustained South African production, but bolstered their long-term forecasts due to an expected higher demand for platinum and palladium on the back of fibreglass, hydrogen economy and hybrid vehicle demand. Edison forecast a recovery in production for Sylvania from FY25 with somewhat higher costs after the recent US dollar depreciation.
14 August 2024
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