Impala Platinum Holdings Limited · JSE:IMP

Impala Platinum — FY2009 Earnings Presentation

16 slides from Impala Platinum's earnings presentation, Aug 27, 2009

  1. Slide 1: Key features - financial

    Annual Results FY2009 27 August 2009 One Team One Vision With Pride Key features - financial  Sales revenue down 31% to Heps (cents) R26.1 billion (US$3 billion) 2100 primarily on lower metal prices 1800  Cost of sales reduced by 18% to R16.4 billion 1500 Down 52%  Gross profit declined 45% to 12

  2. Slide 2: Key features - operational

    Key features - operational  Safety unsatisfactory Gross refined  Tonnes milled declined by 1% to 000 oz platinum production 20.1 million 2000  Gross platinum production of 1.7 Moz  Group unit cost up 10% to R8 526 1700 including share based payments and up 32% to R9 129 excluding share based pay

  3. Slide 3: Group safety

    Group safety Fatal injury frequency rate (per million man hours) 0.32 , 0.14 0.28 0.12 0.24 0.10 0.20 0.08 0.16 0.06 0.12 0.04 0.08 0.02 0.04 0.00 0.00 Xstrata Gold Fields BHPB* Platinum Implats Lonmin AngloGold Rio Tinto SA Platinum American FY05 FY06 FY07 FY08 FY09 Anglo Anglo Industry Implats Gro

  4. Slide 4: Impala and Marula

    Impala  Tonnes milled declined by 5% to 15.1 million  Head grade declined from 4.64 to 4.56g/t (6E)  Platinum production fell by 9% to 950 000 ounces  Unit costs rose by 31% excluding share based payments to R8 559 per platinum ounce  Gross margins reduced to 50%  Capital expenditure increased

  5. Slide 5: Zimplats and Mimosa

    Zimplats  Tonnes milled increased by 7% to 2.36 million  Refined platinum production rose by 7% to 97 000 ounces  Unit costs increased by 27% to R11 740 per platinum ounce in matte  Phase 1 expansion to 180 000 ounces of refined platinum on track for completion in FY2010  Portal 1 at full produ

  6. Slide 6: Two Rivers and IRS

    Two Rivers  Full production of 120 000 refined platinum ounces has been achieved  The plant optimization was recently completed  Subject to regulatory approval Implats will increase its stake in Two Rivers to 49% by Impala vending portions of the farm Kalkfontein and the farm Tweefontein into the

  7. Slide 7: Gross profit highlights

    Financial Review Dawn Earp One Team One Vision With Pride Gross profit highlights Rm FY2009 FY2008 % change Sales 26 121 37 619 (31) Cost of sales (16 359) (19 888) (18) Gross profit 9 762 17 731 (45) Gross margin 37% 47% (21) Revenue per platinum oz 17 217 21 528 (20) Average exchange rate 8.63 7.3

  8. Slide 8: Group unit costs and headline earnings

    Group unit costs R/oz 9 500 779 9 129 603 9 000 8 526 8 500 1 420 8 000 Up 32% Up 10% 7 500 6 930 7 000 6 500 6 000 Inflation FY2009 Incl FY2008 Volumes and FY2009 Excl SBP SBP grade SBP One Team One Vision With Pride 15 Headline earnings Rm 14 000 12 485 12 000 10 000 8 000 2 074 6 015 6 000 SBP 63

  9. Slide 9: Movement in cash net of debt

    Movement in cash net of debt Rm 10 000 8 883 8 201 8 000 H2 2 083 6 000 4 000 H1 6 118 2 000 528 1 363 7 489 6 791 0 1 245 724 (2 000) Dividend Cash Flow Jun-2008 Tax 2008 Jun-2009 Share Buy Capex Other Operating FY2008 Back One Team One Vision With Pride 17 Market Review Derek Engelbrecht One Team

  10. Slide 10: Sales volumes and average prices achieved

    Sales volumes by metal FY2009 FY2008 % change Platinum (000oz) 1 503 1 739 (14) Palladium (000oz) 781 885 (12) Rhodium (000oz) 180 197 (9) Nickel (000t) 14 13 8 One Team One Vision With Pride 19 Average prices achieved - major metals FY2009 FY2008 % change Platinum ($/oz) 1 219 1 598 (24) Palladium

  11. Slide 11: Platinum supply and demand; ETFs and Nymex vs TOCOM

    Platinum 2009 000 oz 2006 2007 2008 Est Demand Automotive 4,040 4,080 3,750 3,010 Jewellery 1,665 1,545 1,355 1,895 Industrial 1,830 1,870 1,780 1,570 Investment (30) 150 400 330 Total 7,505 7,645 7,285 6,805 Supply SA 5,435 5,145 4,465 4,580 Other 2,290 2,365 2,845 2,345 Total 7,725 7,510 7,310 6,9

  12. Slide 12: China/Hong Kong imports and Palladium

    China / Hongkong Imports (000 oz) 1,500 1,000 500 0 2005 2006 2007 2008 YTD09* HK Net Import SGE *Jan to June 09 One Team One Vision With Pride 23 Palladium 2009 000 oz 2006 2007 2008 Est Demand Automotive 4,800 5,025 4,760 4,450 Other 3,380 3,355 3,720 3,280 Total 8,180 8,380 8,480 7,730 Supply SA

  13. Slide 13: Rhodium and Market outlook

    Rhodium 2009 000 oz 2006 2007 2008 Est Demand Automotive 825 844 761 663 Industrial 144 146 134 133 Total 969 990 895 796 Supply SA 648 662 582 595 Other 292 310 324 297 Total 940 972 906 892 Supply/Demand Balance (33) (18) 11 96 One Team One Vision With Pride 25 Market outlook  Economic recovery,

  14. Slide 14: Conclusion: Update on 14 Shaft tragedy

    Conclusion David Brown One Team One Vision With Pride Update on 14 Shaft tragedy  Memorial service held on 24 July  Investigation involving Implats, DMR and unions conducted  The full DMR investigation and enquiry is still in progress  Reconfigured bord lengths  Output reduced in FY2010 by 50 0

  15. Slide 15: Implats scorecard and Conclusion

    Implats scorecard Safety  Production/growth  Unit cost control  Zimbabwe  Returns to shareholders  One Team One Vision With Pride 29 Conclusion  Fundamentals for PGMs remain 000 oz Platinum growth profile sound in the medium- to long- 2000 term 1600  Growth profile to 2.1 million 1200 ounces

  16. Slide 16: Annual Results FY2009

    Annual Results FY2009 One Team One Vision With Pride

Impala Platinum Holdings — FY2009 Earnings Presentation on 6ix