FY Results – Merafe Resources’ 2022 production of ferrochrome increased 1% to 384kt, while revenue decreased 2% to R7.939 bn. The production cost per tonne increased by 30%, and EBITDA decreased 12% to R2.14 bn. Headline earnings per share and basic earnings per share both decreased, to 56.4 cents and 56.4 cents, respectively. The company generated net cash from operating activities of R1.698 bn, an increase from R1.156 bn in 2021, and had a cash balance of R1.269 bn at the period end. A final cash dividend of 13 cents per share was declared, down from 22 cents per share in 2021.
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