Despite the impact of the COVID-19 pandemic, the Implats Group has record sales revenues for its full year to 30 June 2020. The Group also declared a final dividend of R4.00 a share, bringing the total dividend for the full year to R5.25 per share.
The Implats strategic journey over the past few years has set the Group on a firm footing for long-term sustainability and value creation for all stakeholders. “The progress made in the strategic repositioning of Implats over the past several years enabled the Group to successfully navigate the challenges created by the unprecedented external shock of the COVID-19 pandemic,” said Implats CEO Nico Muller.
Gains in productivity, safety and efficiency at Impala Rustenburg resulted in upward revisions to the planned production profile at the operating complex, negating the need for large-scale retrenchments. In Zimbabwe, operations continued to excel despite increasing socioeconomic pressures. The operational turnaround and renewed social stability at Marula were sustained, yielding substantial financial value and, at Two Rivers, a project to increase processing capacity was approved and advanced during the year.
Muller added that operational resilience enabled sustained delivery of refined metal to customers and the Group benefited from robust pricing for primary products, which resulted in stellar financial results. “The Group made meaningful advances in strengthening its balance sheet and dividend payments were reinstated,” he said. Implats’ portfolio was enhanced by the acquisition of Impala Canada, a mechanised, high-margin primary palladium producer, which further diversified the Group’s operating footprint.
Strengthened relationships with key stakeholders were affirmed by a multi-year wage agreement concluded without third-party intervention and a strong environmental performance underpinned the continued commitment to responsible corporate stewardship. “This performance would not have been possible without the unwavering support received from our employees and various key external stakeholders throughout the year,” Muller said.
He concluded that the support was vital on the advent of the COVID-19 pandemic, which necessitated unprecedented collaboration and cooperation to ensure that Implats was able to contribute meaningfully to mitigating the devastating effect of the pandemic and deliver sustained value to all our stakeholders.