https://www.miningweekly.com
Business|Coal|Energy|Export|Financial|Iron Ore|Resources|Operations
Business|Coal|Energy|Export|Financial|Iron Ore|Resources|Operations
business|coal|energy|export|financial|iron-ore|resources|operations

Exxaro warns of lower earnings on the back of decrease in export prices, weaker rand

7th March 2024

By: Darren Parker

Creamer Media Contributing Editor Online

     

Font size: - +

Diversified resources company Exxaro Resources has warned shareholders that it is likely to report a 16% to 30% year-on-year decrease in headline earnings per share (HEPS) for the year ended December 31.

HEPS are likely to be between R42.11 and R50.63, compared with the HEPS of R60.16 reported for the 2022 financial year.

Earnings before interest, taxes, depreciation and amortisation for 2023 are expected to have decreased by between 23% and 37% to between R11.97-billion and R14.63-billion, from R19-billion the year before.

Exxaro attributes the decreases in earnings to lower export sales prices realised, which were partially offset by higher prices achieved in the domestic market, along with the impact of a weaker rand:dollar exchange rate at the company’s coal operations.

However, Exxaro expects a higher contribution from its energy business owing to improved wind conditions compared with 2022, as well as higher income from the company’s equity-accounted investment in Sishen Iron Ore.

The company’s results will be published on or about March 14.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Alco-Safe
Alco-Safe

Lion Alcoblow ® - High speed breathalyser

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 24 May 2024
Magazine round up | 24 May 2024
24th May 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:0.194 0.229s - 108pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: