Headline earnings for the year ended 30 June 2022 (F2022) decreased by 13% to R11 338 million or R57.87 per share (F2021: R13 064 million or R66.88 per share).
A final dividend of R20.00 per share is declared (F2021: R20.00 per share). In addition to the interim dividend of R12.00 per share paid on 4 April 2022, this brings the total dividend related to F2022 to R32.00 per share (F2021: R30.00 per share).
The acquisition of Bokoni Platinum Mine was completed on 12 August 2022. The purchase consideration of R3 500 million will be fully settled in early September 2022.
Net cash improved by R2 973 million to R11 175 million at 30 June 2022 (30 June 2021: R8 202 million).
Operational
ARM Ferrous headline earnings decreased by 16% to R6 682 million (F2021: R7 927 million) mainly as a result of lower iron ore prices.
ARM Platinum headline earnings decreased by 34% to R3 066 million (F2021: R4 666 million), largely due to a negative mark-to-market adjustment as a portion of the ARM Platinum receivables as at 30 June 2021 was subsequently realised at lower prices following the decline in rhodium and palladium prices.
Significantly higher export coal prices drove a R1 178 million increase in ARM Coal headline earnings to R928 million (F2021: R250 million headline loss).
ARM Coal loans owing to Glencore Operations South Africa (GOSA) were fully settled following a significant increase in operating profits at the ARM Coal operations.