Annual Financial Report

RNS Number : 5210I

Tharisa PLC

05 December 2022

 

Tharisa plc

(Incorporated in the Republic of Cyprus with limited liability)

(Registration number HE223412)

JSE share code: THA

LSE share code: THS

A2X share code: THA

ISIN: CY0103562118

LEI: 213800WW4YWMVVZIJM90

('Tharisa' or the 'Company')

AUDITED ANNUAL RESULTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 AND CASH DIVIDEND DECLARATION

Tharisa is an integrated resource group critical to the energy transition and decarbonisation of economies. It incorporates mining, processing, exploration, and the beneficiation, marketing, sales, and logistics of PGMs and chrome concentrates, using innovation and technology as enablers. Its principal operating asset is the Tharisa Mine located in the south-western limb of the Bushveld Complex, South Africa. The mechanised mine has a 19-year open-pit life and the ability to extend operations underground by at least an additional 40 years. Tharisa also owns Karo Mining Holdings a development stage, low-cost, open-pit PGM asset, located on the Great Dyke in Zimbabwe. The Company is committed to reducing its carbon emissions by 30% by 2030 and the development of a roadmap is continuing to be net carbon neutral by 2050.

REEF MINED

5.51 Mt

(2021: 5.38 Mt)

+2.4%

PGM PRODUCTION (5PGE + AU)

179.20 koz

(2021: 157.80 koz)

+13.6%

CHROME CONCENTRATE PRODUCTION

1.58 Mt

(2021: 1.51 Mt)

+4.6%

REVENUE

US$686.0 m

(2021: US$596.3 m)

+15.0%

OPERATING PROFIT

US$184.5 m

(2021: US$178.8 m)

+3.2%

EBITDA

US$236.3 m

(2021: US$224.3 m)

+5.3%

PROFIT BEFORE TAX

US$220.2 m

(2021: US$185.3 m)

+18.8%

EARNINGS PER SHARE

US 53.8 cents

(2021: US 37.4 cents)

+43.9%

HEADLINE EARNINGS PER SHARE

US 41.1 cents

(2021: US 38.3 cents)

+7.3%

TOTAL DIVIDEND

US 7.0 cents

(2021: US 9.0 cents)

This short form announcement is the responsibility of the directors and is only a summary of the information in the full announcement. The full announcement was released on SENS and RNS on
5 December 2022, and can be found on the Company's website at www.tharisa.com and can also be viewed here, https://senspdf.jse.co.za/documents/2022/jse/isse/THA/FYresults.pdf . Copies of the announcement may also be requested at the Company's registered office, at no charge, during office hours.

Any investment decision should be based on the full announcement published on SENS and RNS.

Ernst & Young Cyprus Limited has expressed an unmodified audit opinion in the Independent Auditor's Report dated 1 December 2022 on the audited consolidated financial statements. That report also includes the communication of key audit matters and is available on the Company's website: https://www.tharisa.com/pdf/investors/annual-results/2022/independent-auditors-report.pdf .

By order of the Board

P Pouroulis Chief Executive Officer  MG JonesChief Finance Officer

5 December 2022

DIRECTORS

Loucas Pouroulis (Executive Chairman)

Phoevos Pouroulis (Chief Executive Officer)

Michael Jones (Chief Finance Officer)

Carol Bell (Lead Independent Director)

David Salter (Independent non-executive director)

Antonios Djakouris (Independent non-executive director)

Omar Kamal (Independent non-executive director)

Roger Davey (Independent non-executive director)

Shelley Wai Man Lo (Non-executive director)

Zhong Liang Hong (Non-executive director)

REGISTERED ADDRESS

Office 108 - 110

S. Pittokopitis Business Centre

17 Neophytou Nicolaides and Kilkis Streets, 8011 Paphos, Cyprus

www.tharisa.com

GROUP COMPANY SECRETARY

Sanet Findlay

The Crossing, 372 Main Road

Bryanston, Johannesburg, 2021
South Africa

Email: [e-mail]

ASSISTANT COMPANY SECRETARY

Lysandros Lysandrides

31 Evagoras Ave

6^th Floor Evagoras House

1066 Nicosia

Cyprus

TRANSFER SECRETARIES

Computershare Investor Services Proprietary Limited, Cymain Registrars Limited

Paphos , Cyprus

5 December 2022

JSE Sponsor

Investec Bank Limited

Connect with us on LinkedIn and Twitter to get further news and updates about our business.

Investor Relations Contacts:

Ilja Graulich (Head of Investor Relations and Communications)

[phone]

[phone]

[e-mail]

Financial PR Contacts:

Bobby Morse / Oonagh Reidy

[phone]

[e-mail]

Broker Contacts:

Peel Hunt LLP (UK Joint Broker)

Ross Allister / Georgia Langoulant

[phone]

BMO Capital Markets Limited (UK Joint Broker)

Thomas Rider / Nick Macann

[phone]

Berenberg (UK Joint Broker)

Matthew Armitt / Jennifer Lee / Detlir Elezi

[phone]

Nedbank Limited (acting through its Corporate and Investment Banking division) (RSA Broker)

Carlyle Whittaker

[phone]

About Tharisa

Tharisa is an integrated resource group critical to the energy transition and decarbonisation of economies. It incorporates mining, processing, exploration, and the beneficiation, marketing, sales, and logistics of PGMs and chrome concentrates, using innovation and technology as enablers. Its principal operating asset is the Tharisa Mine located in the south-western limb of the Bushveld Complex, South Africa. The mechanised mine has a 20-year open-pit life and the ability to extend operations underground by at least an additional 40 years. Tharisa also owns Karo Mining Holdings a development stage, low-cost, open-pit PGM asset, located on the Great Dyke in Zimbabwe. The Company is committed to reducing its carbon emissions by 30% by 2030 and the development of a roadmap is continuing to be net carbon neutral by 2050. Tharisa plc is listed on the Johannesburg Stock Exchange (JSE: THA) and the Main Board of the London Stock Exchange (LSE: THS).

 

END

 

 

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