Скачать или смотреть PETRA DIAMONDS LIMITED - Interim Results for the Period on 3 March 2026

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0:00 Introduction
4:04 H1 FY 2026 Overview
11:16 Our operations
16:15 Financial performance
25:29 Q&A

Petra Diamonds Limited (PDL:LSE) provided an interim investor update for the six months ended 31 December 2025, emphasising a leaner, capital-optimised portfolio following prior disposals and progress against its medium-term value plan despite a subdued diamond market. Management highlighted the successful November 2025 refinancing—extending senior and second-lien maturities, completing a $25m rights issue, and adding a “payment in cash or equity” mechanism to preserve liquidity flexibility—alongside steady operational delivery as both Cullinan and Finsch mines settled into new shift patterns. H1 revenue was $100m (vs $115m prior year) largely due to tender timing, which also drove higher diamond inventories (608k carats; ~$46m at cost), while improved grades and product mix—supported by fresh ore at Cullinan and the recovery of an exceptional 41.82-carat blue Type II diamond—helped realised pricing hold up versus broader market indices. Cost discipline and operational actions lifted adjusted EBITDA to $26m (from $15m), although operational free cash flow was a $6m outflow, mainly from inventory build and tender phasing, with capex rising to $34m in line with life-of-mine plans. Statutory results showed a $90m loss after tax, driven primarily by impairment charges linked to FX and market assumptions. The group ended the period with $36m unrestricted cash, $11m available on its RCF, and no covenant breaches, while reiterating guidance and focusing on safety, expansion project delivery, capital sequencing, margins, and converting inventory to cash in H2 amid ongoing FX sensitivity and market uncertainty, particularly in smaller stones where lab-grown competition remains acute.