Yesterday, Zimplats Holdings Ltd (ASX: ZIM) reported that it had more than doubled its revenue to US$641.8 million for the half year ended 31 December 2025.
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What did Zimplats report?
- Revenue: up 83% to US$641.8 million (H1 FY2025: US$350.2 million)
- Profit after tax: up 3376% to US$143.7 million (H1 FY2025: US$4.1 million)
- Profit before income tax: US$203.4 million (H1 FY2025: US$8.9 million)
- Basic/diluted earnings per share: 134 cents (H1 FY2025: 4 cents)
- No interim dividend was declared for the half year
- Net tangible assets per share: up 9% to US$20.92 (H1 FY2025: US$19.16)
What else do investors need to know?
Production volumes of platinum group metals increased across the board, with 6E ounce output up 13% to 316,765 ounces and sales volumes also rising. The improved result was largely due to higher global metal prices and higher volumes, while cost of sales climbed 31% as labour, maintenance and royalty costs increased with revenue.
The board maintained a cautious approach to capital management, opting not to pay a dividend this half. Zimplats ended the period with US$145.7 million in cash and cash equivalents, a substantial improvement from the US$41.4 million held at the end of the previous corresponding period.
What did Zimplats management say?
Chief Executive Officer Alex Mhembere said:
Safety remains our unwavering priority, and I am proud of the significant strides we have made toward our zero-harm goal. The improvement in platinum group metal prices has strengthened our position, enabling us to focus on operational excellence and sustainable growth. Our investments in innovation, including the solar plant and smelter expansion operations, continue to deliver value and resilience. Together, we are building a stronger, safer, and more sustainable future—one that thrives on excellence and creates lasting value for all stakeholders.
What's next for Zimplats?
Looking ahead, Zimplats is continuing with major capital projects to expand production and improve sustainability. Construction of mine replacements and upgrades is on track, with further investment in smelter expansion and renewable energy. The solar plant roll-out will continue, with the next phase forecast for completion in the first half of FY2027.
The company says it remains focused on operational excellence, keeping safety front of mind and aiming for reliable growth. There were no material events after period end impacting the outlook.
Zimplats share price snapshot
Over the past 12 months, Zimplats shares have increased 66%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 11% over the same period.
