https://newsletter.mw.creamermedia.com
Business|Coal|drives|Energy|Export|Financial|Iron Ore|Resources
Business|Coal|drives|Energy|Export|Financial|Iron Ore|Resources
business|coal|drives|energy|export|financial|iron-ore|resources

Coal drives up Exxaro’s full-year earnings

9th March 2023

By: Donna Slater

Features Deputy Editor and Chief Photographer

     

Font size: - +

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.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

 

Showroom

Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 
BOVA Safety Wear
BOVA Safety Wear

BOVA cemented their reputation in Africa by delivering high quality engineering through their range of safety footwear. 21 years after producing...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Minerals Council South Africa CEO Mzila Mthenjane
Minerals Council optimistic about ongoing MPRDA review
13th December 2024 By: Marleny Arnoldi
Magazine round up | 13 December 2024
Magazine round up | 13 December 2024
13th December 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:0.241 0.322s - 144pq - 2rq
Subscribe Now