Annual Report 2004


  Overview   Accountability   Review of the Year   Financials & Shareholders' Information  

Key performance highlights (SA Rand)


Message to shareholders

Chairman's letter

Peter JoubertPeter Joubert

During the year under review, significant production milestones were achieved and steps were taken to ensure that good progress was made on the corporate front to realize value for shareholders. More from Peter Joubert

Chief Executive's Review
Keith RumbleKeith Rumble

A highlight of the year was undoubtedly the 17% increase in platinum production to a record level of 1.961 Moz, reflecting Implatsí continued delivery against the targets that we have set ourselves. More from Keith Rumble

Review of the Year

Review of operations & interests

  • Safety performance (LTIFR) improves by 15%
  • Gross platinum production up by 17% to 1.96 Moz
  • Impala Platinum production at 1.09 Moz platinum - highest in a decade
  • Sales revenue maintained at R11.81 billion
  • Gross margin of 36%
  • Profit down 13% to R2.96 billion, largely due to Rand appreciation
  • Unit cost per platinum ounce up by 4.1%
Year at a glance
  FY2004FY2003% change
Sales(Rm)11 80911 8070
Gross profit(Rm)4 2605 284(19)
Profit before tax(Rm)4 1225 060(19)
Profit(Rm)2 9633 415(13)
Headline earnings per share(cps)3 9665 140(23)
Dividends per share (proposed basis)(cps)2 1002 650(21)
Cash net of short-term debt(Rm)6362 120(70)
Sales revenue per platinum ounce sold($/oz)1 11693519
Sales revenue per platinum ounce sold(R/oz)7 678 8 471(9)
Average Rand exchange rate achieved(R/$)6.889.06(24)
Refined platinum production(000 oz)1 9611 67317
Refined PGM production(000 oz)3 7253 16218
Refined platinum production(000 oz)1 0901 0405
Refined PGM production(000 oz)1 9761 9243

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Annual Report 2004 cover

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Our scorecard and objectives

What we said in FY2003,
what we achieved in FY2004 and objectives for FY2005

Scorecard & objectives...

Responding to the Mining Charter

The Minerals and Petroleum Resources Development Act, which came into effect in May 2004, will play an important role in the transformation of the mining industry as a whole. Implats has begun to establish processes and put in place structures to enable it to comply, with the new minerals legislation...

Response to the Mining Charter...

Impala Platinum Holdings Limited
Annual Report 2004