Sibanye-Stillwater reports R90 billion interim revenue and R5.7 billion dividend

Sibanye-Stillwater reported revenue of R90 billion for the six months ended 30 June 2026 and declared a R5.7 billion interim dividend, according to its original results release dated 1 September 2026. These figures and operating assessments are attributed to the company’s saved disclosure, not independently corroborated by Nexus. The group said revenue rose 64% year on year and adjusted EBITDA increased 111% to R31.8 billion, supported by stronger commodity prices and stable operating delivery. Profit for the period was R18.8 billion. Net operating cash flow reached R19.6 billion, while the company’s notional free cash flow measure was R14.5 billion, equivalent to 45% of adjusted EBITDA. Sibanye-Stillwater reported gross debt of R32.1 billion, down 20% from a year earlier and 18% from the second half of 2025. It said net debt had halved and the net-debt-to-adjusted-EBITDA ratio improved to 0.18 times. The dividend equated to 201 South African cents per ordinary share. Reported all-in sustaining cost margins were 44% for South African platinum-group metals operations and 32% for South African gold. The release also confirmed growth investment in Burnstone and Mt Lyell, alongside four South African PGM brownfield projects already under execution. It described Keliber as ramping up, with 217,500 tonnes of ore mined. On safety, despite claiming its best lagging-indicator performance, the company disclosed two fatal incidents at its South African PGM and gold operations that killed three colleagues. Nexus analysis The results connect stronger commodity pricing with cash generation, debt reduction, shareholder distributions and growth spending. That combination should not obscure the distinction between reported interim performance and future project delivery. Nor do improved aggregate safety indicators negate the fatalities disclosed. The saved evidence supports the company’s financial and investment announcements, not independent assurance of operational claims or future returns.