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Highlights

  • Sylvania Platinum shares rose 1.67% on 24 February 2026, extending one-year gains to 156.8%
  • HY1 FY2026 net revenue surged 110% to USD 99.8 million.
  • Adjusted EBITDA climbed 414% to USD 51.0 million.
  • Record 4E PGM production of 49,164 ounces, up 25% year-on-year.
  • Interim dividend of 2.00 pence per share declared.

Sylvania Platinum Limited (LSE:SLP) shares rose by 1.67% to GBX 122 during the morning session on 24 February 2026 after the Company released its interim results for the six months ended 31 December 2025 (HY1 FY2026). The share price remains up 156.84% over the past year, reflecting sustained operational momentum and favourable metal prices.

Revenue and EBITDA Surge on Higher Output and Prices

For HY1 FY2026, net revenue more than doubled to USD 99.8 million, representing a 110% increase compared with USD 47.6 million in HY1 FY2025. The growth was driven by a 25% rise in 4E PGM (Platinum Group Metals) ounce production and a 55% improvement in the average basket price in USD terms.

Adjusted Group EBITDA climbed 414% to USD 51.0 million, up from USD 9.9 million in the corresponding prior period, reflecting favourable production volumes and favourable pricing.

Net profit for the Period increased to USD 23.2 million, compared to USD 7.2 million in HY1 FY2025. Earnings per share rose to 8.93 US cents from 2.73 US cents year-on-year.

The Group ended the Period with a cash balance of USD 54.0 million, compared to USD 77.5 million on 31 December 2024 and USD 60.9 million at FY2025 year-end. During the Period, the Company recognised a non-cash impairment of USD 12.3 million relating to the Hacra exploration asset.

Record Production and Operational Milestones

Sylvania Dump Operations (SDO) delivered record production of 49,164 4E PGM (Platinum Group Metals) wounces in HY1 FY2026, up 24.8% from 39,398 ounces in HY1 FY2025. The increase was primarily attributed to a 9% rise in PGM feed tons and a 10% improvement in feed grades.

The centralised PGM Filtration Plant was completed and commissioned, while the Doornbosch and Mooinooi Tailings Storage Facilities were brought into operation. The Thaba Joint Venture also reached a milestone, with first Chrome and PGM concentrate dispatched during the Period.

Dividend Declared and Guidance Raised

In line with its dividend policy, the Company declared an interim dividend of 2.00 pence per Ordinary Share for HY1 FY2026. Additionally, approximately USD 2.5 million has been allocated for potential share buybacks, subject to market conditions and regulatory requirements.

As previously announced in January 2026, full-year FY2026 production guidance was increased to 90,000–93,000 4E PGM ounces, up from the initial 83,000–86,000 ounce range. The Chrome concentrate target of 60,000–90,000 tons remain unchanged.

The Group confirmed it remains debt free and continues to fund expansion and optimisation projects from internal cash resources.

Investor Takeaway

Sylvania’s interim performance highlights record production, sharply higher revenue and significant EBITDA expansion, supported by favourable metal prices and operational efficiencies. The raised production guidance and declared dividend appear to have supported today’s share price move, while the stock’s favourable 12-month performance reflects continued operational delivery and cash generation.

Frequently Asked Questions (FAQs)

  1. Why did Sylvania Platinum shares rise on 24 February 2026?

Shares of Sylvania Platinum (LSE:SLP) increased 1.67% to GBX 122 after the Company reported strong HY1 FY2026 results, including record production, higher revenue and increased EBITDA.

  1. How did Sylvania perform in HY1 FY2026 compared to HY1 FY2025?

Revenue rose 110% to USD 99.8 million from USD 47.6 million, while adjusted EBITDA increased 414% to USD 51.0 million. Net profit climbed to USD 23.2 million from USD 7.2 million.

  1. What dividend has Sylvania declared?

The Company declared an interim dividend of 2.00 pence per Ordinary Share for HY1 FY2026.