| Earnings per share |
12. Earnings per share | Accounting policy Headline earnings is presented as an additional earnings number allowed by IAS 33 Earnings per Share (IAS 33) and is calculated based on the requirements set out in SAICA Circular 1/2023. Earnings, as determined in IAS 33, is the starting point and certain remeasurements net of related tax (current and deferred) and NCI are excluded. A remeasurement is an amount recognised in profit or loss relating to any change (whether realised or unrealised) in the carrying amount of an asset or liability that arose after the initial recognition of such asset or liability. |
12.1 Basic earnings per share Basic earnings per share (EPS) is calculated by dividing the profit or loss attributable to owners of Sibanye-Stillwater by the weighted average number of ordinary shares in issue during the year. | | | | | | | | | | Weighted average number of shares | | | | | Ordinary shares in issue (’000) | | | | | Adjustment for weighting of ordinary shares in issue (’000) | | | | | Weighted average number of shares (’000) | | | | | Loss attributable to owners of Sibanye-Stillwater (SA rand million) | | | | | | | | | |
12.2 Diluted earnings per share Diluted EPS is calculated by dividing the profit attributable to owners of Sibanye-Stillwater by the diluted number of ordinary shares in issue during the year. Dilutive shares are the number of potentially dilutive ordinary shares that could be issued. The vesting of equity-settled share options issued by DRDGOLD and the assumed conversion of the US$ Convertible Bond could potentially dilute basic earnings per share in future through the dilution of earnings attributable to the Group and the increase in ordinary shares in issue, respectively. However, these instruments were anti-dilutive for all years presented. | | | | | | | | | | Diluted weighted average number of shares | | | | | Weighted average number of shares (’000) | | | | | Potential ordinary shares (’000)1 | | | | | Diluted weighted average number of shares (’000) | | | | | Diluted basic EPS (cents) | | | | |
1This related to a historical equity-settled share-based payment scheme of which the last awards vested in Q1 2023 12.3 Headline earnings per share Headline EPS is calculated by dividing the headline earnings attributable to owners of Sibanye-Stillwater by the weighted average number of ordinary shares in issue during the year. Reconciliation of profit attributable to owners of Sibanye-Stillwater to headline earnings: | | | | Figures in million – SA rand unless otherwise stated | | | | | | | | Loss attributable to owners of Sibanye-Stillwater | | | | Loss on disposal of property, plant and equipment | | | | Impairments and reversal of impairments | | | | Impairment recognised by equity-accounted investee, net of tax | | | | Compensation for losses incurred | | | | Gain on assets held for sale | | | | Foreign exchange movement recycled through profit or loss | | | | | | | | Weighted average number of shares (’000) | | | | | | | | | | | | Loss attributable to owners of Sibanye-Stillwater | | | | Gain on disposal of property, plant and equipment | | | | Impairments and reversal of impairments | | | | Impairment recognised by equity-accounted investee, net of tax | | | | Compensation for losses incurred | | | | Foreign exchange movement recycled through profit or loss | | | | Re-measurement items, attributable to NCI | | | | | | | | Weighted average number of shares (’000) | | | | | | | | | | | | Loss attributable to owners of Sibanye-Stillwater | | | | Gain on disposal of property, plant and equipment | | | | Impairments and reversal of impairments | | | | | | | | Gain on remeasurement of previous interest in Kroondal | | | | Impairment recognised by equity-accounted investee, net of tax | | | | Foreign exchange movement recycled through profit or loss | | | | Re-measurement items, attributable to NCI | | | | | | | | Weighted average number of shares (’000) | | | | | | | |
12.4 Diluted headline earnings per share Diluted headline EPS is calculated by dividing the headline earnings attributable to owners of Sibanye-Stillwater by the diluted weighted average number of ordinary shares in issue during the year. The assumed conversion of the US$ Convertible Bond was dilutive in respect of headline earnings per share for the year ended 31 December 2025, however the convertible bonds were anti-dilutive for all other years presented. | | | | | Figures in million – SA rand unless otherwise stated | | | | | | | | | | Adjusted for impact of the US$ Convertible bond: | | | | | Interest charge and unwinding of amortised cost | | | | | | | | | | Diluted headline earnings | | | | | | | | | | Adjusted weighted average number of shares ('000) | | | | | Potential ordinary shares - US$ Convertible bond ('000) | | | | | Diluted ordinary shares - US$ Convertible bond ('000) | | | | | Diluted headline EPS (cents) | | | | |
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