Zimplats (ZIM) H1 2026 earnings summary

Executive summary

• Revenue surged 83% year-over-year to US$641.8 million, driven by higher metal prices and increased sales volumes.

• Profit before tax rose 2,185% to US$203.4 million, with net profit up 3,376% to US$143.7 million.

• No dividend was declared for the half year.

• Safety performance improved, with a low lost-time injury frequency rate of 0.22 per million man-hours.

• Environmental targets were met, with 68% of water recycled and ongoing rehabilitation projects.

Financial highlights

• Gross profit reached US$216.7 million, up from US$26.8 million year-over-year.

• Cost of sales increased 31% to US$425.0 million due to higher labor, maintenance, and royalty costs.

• Net cash from operating activities was US$171.8 million, up from US$59.9 million.

• Cash and cash equivalents at period end were US$145.7 million, up from US$41.4 million a year earlier.

• Basic/diluted EPS rose to 134 cents from 4 cents year-over-year.

Outlook and guidance

• Focus remains on safety, operational excellence, and sustainable growth.

• Investments in innovation, including solar and smelter expansion, are expected to drive future resilience.