Sibanye seeks debt reprieve as earnings plunge nearly R6bn
Sibanye ended the 2023 financial year with net debt of R11.9bn
10 May 2024 - 15:49
Sibanye-Stillwater, one of SA’s largest private sector employers, has approached its lenders to temporarily raise its lending covenants after its earnings before interest, taxes, depreciation, and amortisation (ebitda) in the first quarter plunged by two thirds.
The group said on Friday that its adjusted ebitda, a measure of a company’s operating profit as a percentage of its revenue, fell from R7.76bn to R2.14bn in the quarter under review as platinum group metal (PGM) prices continued to remain in the doldrums...
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