Sibanye Stillwater stock falls as H1 EBITDA rises 111 percent

Sibanye Stillwater stock closed at ZAR 43.26 on the JSE on September 23, 2026, down 4.10 percent for the session. The decline contrasts with first-half 2026 revenue of ZAR 89.98 billion, which was 64 percent higher than in the prior-year period.

EBITDA rises 111 percent

According to StockTitan, adjusted EBITDA reached ZAR 31.84 billion for the six months ended June 30, 2026, up 111 percent year over year. Profit for the period was ZAR 18.81 billion, compared with the company result for the prior-year period.

The operating leverage is the central figure in the report. Revenue increased 64 percent, while adjusted EBITDA grew 111 percent, showing that the earnings increase outpaced sales growth during the first half.

Revenue reaches ZAR 89.98 billion

The South African portfolio contributed the largest share of the first-half revenue, while Sibanye Stillwater also operates precious metals, recycling and battery-material activities across several regions. The result therefore combines higher metal prices with operating performance across a diversified mining group.

Capital allocation also changed the balance sheet picture. Management reported gross debt of ZAR 32.1 billion at the end of the first half, down from ZAR 39.3 billion at the second-half 2025 reference point. An interim dividend of ZAR 2.01 per ordinary share was declared for the six months ended June 30, 2026, according to Moneyweb.

Price falls to ZAR 43.26

Sibanye Stillwater stock closed at ZAR 43.26 on the JSE on September 23, 2026, down 4.10 percent in one session. The market reaction places the strong H1 operating figures beside the stock's short-term weakness, making debt reduction, dividend capacity and metal-price sensitivity the key numbers for investors.