Record H1 2026 for Sibanye Stillwater: R18.8bn Profit, R5.7bn Dividend, and Approval of Burnstone and Mt Lyell
SBSW sits 50% above its 52-week low of $7.87.
Summary
Record H1 2026 results brought R18.8bn profit, a R5.7bn interim dividend, and approval of the Burnstone and Mt Lyell growth projects.
Key Events · Earnings and Guidance · SBSW
-
Record H1 2026 Profit of R18.8bn
Profit swung to R18.8bn (US$1.1bn) from a R3.9bn loss in H1 2025, on revenue up 64% to R90bn (US$5.5bn) and adjusted EBITDA up 111% to R31.8bn (US$1.9bn).
-
Interim Dividend of 201 SA Cents Declared
Board declared R5.7bn (US$352m) interim dividend, equivalent to 201 SA cents per share (49.73 US cents per ADR), a 6.6% trailing 12-month yield. Ex-dividend 16 Sep 2026, payment 21 Sep 2026.
-
Burnstone and Mt Lyell Projects Approved
Board approved Burnstone gold (~130kozpa at steady state) and Mt Lyell copper-gold (~26ktpa copper, 16koz gold, 116koz silver; first production early 2029). Mt Lyell H2 2026 capex planned at ~US$4.1m.
-
Net Debt Halved to R9.7bn
Gross debt down 20% year-on-year to R32.1bn (US$2.0bn); net debt more than halved to R9.7bn (US$593m), with net debt to adjusted EBITDA improving to 0.18x.
Analysis · SBSW · Energy & Transportation
A record H1 2026 saw profit reach R18.8bn (US$1.1bn), a sharp reversal from the R3.9bn loss a year earlier, as revenue jumped 64% to R90bn and adjusted EBITDA climbed 111% to R31.8bn. The board declared an interim dividend of 201 SA cents per share (R5.7bn / US$352m), representing a 6.6% trailing 12-month yield, and approved two organic growth projects — Burnstone gold (~130kozpa) and Mt Lyell copper-gold (~26ktpa copper, first production early 2029). Net debt halved to R9.7bn with gearing at just 0.18x, giving the company significant financial flexibility. These results confirm the strong earnings momentum flagged in the 27 August trading statement, while the dividend and project approvals add new material information.
How filings like this one have moved
In the 30 days to Sep 12, 2026, 35.3% of the 1492 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.19%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SBSW was trading at $11.84 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $8.3B. The 52-week trading range was $7.87 to $21.29. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.