Moscow. February 19. INTERFAX – Anglo American Platinum (Amplats), the world’s largest platinum producer, has recorded a drop in profit and revenue in 2023, which is why it has decided to sharply cut dividends and warned of possible layoffs of more than 4,300 workers.
According to a press release from the company, which is controlled by Anglo American, its revenue in 2023 fell to 124.6 billion South African rand ($6.6 billion) from 164.1 billion rand a year earlier. Adjusted EBITDA fell to 24.4 billion rand from 73.9 billion rand.
Amid worsening financial performance, the Amplats board of directors recommended an annual dividend of 21.3 rand per share, compared with 115 rand a year earlier.
The company may lay off about 3,700 employees in South Africa and also terminate the services of about 620 contractors. Amplats employed more than 21,000 people at the end of 2022.