https://www.miningweekly.com
Coal|Iron Ore|Resources
Coal|Iron Ore|Resources
coal|iron-ore|resources

Exxaro to report up to 37% fall in interim earnings

Income from Exxaro’s equity-accounted investments at Sishen Iron Ore Company and Mafube Coal were negatively impacted by lower prices

Income from Exxaro’s equity-accounted investments at Sishen Iron Ore Company and Mafube Coal were negatively impacted by lower prices

Photo by Bloomberg

14th August 2023

By: Cameron Mackay

Creamer Media Senior Online Writer

     

Font size: - +

Diversified resources company Exxaro Resources has warned of a 23% to 37% year-on-year decrease in earnings for the six months ended June 30 on the back of lower coal sales, prices and volumes and compounded by the impact of ongoing logistical challenges.

“Income from our equity-accounted investments at Sishen Iron Ore Company and Mafube Coal were also negatively impacted by lower prices,” states the company, which will publish its interim results on August 17.

Earnings before interest, taxes, depreciation and amortisation (Ebitda) are likely to be 22% to 36% lower year-on-year at between R6.79-billion and R8.27-billion. This compares with Ebitda of R10.6-billion reported for the six months to June 30, 2022.

Headline earnings a share are expected to be between R21.58 and R26.38 for the six months under review – a 23% to 37% decrease on the R34.26 reported for the prior comparable period.

Adjusted earnings a share are expected to be between R21.48 and R26.25 a share for the six months under review – a 23% to 37% decrease on the R34.09 reported for the prior comparable period.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest News

Nickel developer Horizonte’s financing efforts fail
Nickel developer Horizonte’s financing efforts fail
Updated 1 hour 55 minutes ago By: Mariaan Webb

Showroom

Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 12 April 2024
Magazine round up | 12 April 2024
12th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.221 0.257s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: