JSE-listed diversified miner Exxaro Resources expects to report an up to 35% decrease in attributable earnings a share of between R25.40 and R30.87 for the year ended December 31, 2020, compared with the prior year.
The company cited this as mainly owing to accounting of noncontrolling interest for the outside shareholders of Eyesizwe.
Exxaro expects to report between 0% and 6% lower headline earnings a share in the year under review, at between R28.45 and R30.27.
Earnings before interest, taxes, depreciation and amortisation should be between 13% and 27% lower year-on-year, owing to a challenging trading environment during Covid-19 and the initial lockdown levels in South Africa.
The company explains in a trading statement that the financial results in both 2019 and 2020 were influenced by various one-off items, such as a gain on the company’s partial disposal of Tronox Holdings and the impairment charges as well.
Exxaro will release its results for the year on March 18.