Sylvania Platinum FY2026 slides: record output, revenue more than doubles

Sylvania Platinum Limited (AIM:SLP) released its fiscal year 2026 results on September 16, 2026, revealing record production and a significant financial turnaround. The company's net revenue soared to $226.3 million, more than double the $104.2 million earned in the previous year. Despite the impressive performance, Sylvania's shares remained flat at $90, slightly below their 52-week high of $130, indicating investors were weighing the strong results against reduced platinum group metal (PGM) production guidance for FY2027 and challenges at the new Thaba joint venture.

Sylvania's low-cost production status and profitability remained strong, supported by rising operating costs. The company's net profit grew 229% to $66.4 million, with earnings per share increasing 232% to 25.66 pence. Revenue growth was driven by a 117% increase, with 89% attributed to higher PGM basket prices, 18% from increased PGM production volumes, and 10% from inaugural chrome production.