Sylvania Platinum - Lower PGM prices affecting results and forecasts
Despite the lower Q323 production and higher unit costs, Sylvania Platinum remains highly cash generative with US$144.2m cash at end March 2023 versus US$123.9m at end Q223. Lower rhodium prices resulted in significantly lower EBITDA than Q223. We have lowered our rhodium and palladium price forecasts for the next two years because of expected lower demand in China and some de-stocking from OEMs. Our new valuation is 173.7p/share, versus the previous valuation of 186.9p/share.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.