Coal drives up Exxaro’s full-year earnings
JSE-listed diversified energy company Exxaro Resources expects its headline earnings a share for the year ended December 31 to have increased by between 20% and 34% year-on-year, to between R56.20 and R62.75 – primarily owing to the good performance of its coal business, which was driven by higher export and domestic sales prices.
Earnings before interest, taxes, depreciation and amortisation during the period are expected to have increased by between 70% and 84% year-on-year, to between R18.14-billion and R19.63-billion – again mainly as a result of the good performance of the coal business.
The company adds that good cost control also had a positive impact on earnings, despite ongoing logistical challenges.
However, Exxaro’s earnings were partially offset by a lower contribution from its energy business owing to persistent low wind conditions at its wind turbine plants over the past 12 months, as well as the lower income from its equity-accounted investment in Sishen Iron Ore Company.
A share buyback programme also impacted on headline earnings, resulting in a lower weighted average number of shares of 242-million, which was down from 247-million in 2021.
Exxaro will release its reviewed financial results for the period on or about March 16.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation