EXX - Exxaro Resources Limited - Trading Update
EXXARO RESOURCES LIMITED
(formerly Kumba Resources Limited)
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
Share Code: EXX
ISIN Number: ZAE000084992
("Exxaro" or "the company")
Shareholders are advised that Exxaro Resources Limited ("Exxaro" - formerly
Kumba Resources Limited) will release its audited financial results for the 12-
month period ended 31 December 2006 on or about 22 February 2007.
Due to the unbundling of Kumba Iron Ore Limited ("KIO") and the empowerment
transaction that resulted in the creation of Exxaro in the fourth quarter of
2006, earnings for the 12 months to 31 December 2006 are not comparable with
earnings reported for the corresponding period in 2005. Earnings for the 12-
month period to 31 December 2006 include the consolidation of Sishen Iron Ore
Company (Pty) Ltd ("SIOC") for only 10 months to 31 October 2006 and Eyesizwe
Coal (Pty) Ltd for only two months to 31 December 2006. Exxaro`s 20% interest in
SIOC has been equity accounted for the two months to 31 December 2006.
Attributable earnings for the 12 months to 31 December 2006 are expected to be
between R17.5 billion and R20.5 billion. This includes the non-recurring
accounting entries to give effect to the empowerment transaction as disclosed in
the circular to shareholders dated 9 October 2006 and the post tax impairment of
the carrying value of the assets of the local mineral sands assets reported in
the release of the 2006 interim results.
Headline earnings which exclude the impact of the impairment and the non-
recurring unbundling interest in KIO as a dividend in specie at fair value, are
expected to be in the range of R1 450 million and R1 750 million with headline
earnings per share between 450 and 550 cents.
The financial information in this trading statement has not been reviewed or
reported on by Exxaro`s auditors.
The announcement of the results for the 12 months ended 31 December 2006 will
include comparative unaudited supplementary financial information for the 12-
month periods ended 31 December 2005 and 2006 solely for information purposes on
the assumption that the empowerment transaction had been implemented on 1
Executive General Manager: Corporate Affairs & Investor Relations
Tel: +27 12 307 3292
Mobile: +27 83 609 1444
JPMorgan Equities Limited
Date: 12/02/2007 16:20:04 Supplied by www.sharenet.co.za
Produced by the JSE SENS Department .