EXX - Exxaro Resources Limited - Voluntary trading statement for the six months Release Date: 13/08/2009 16:30:01 Code(s): EXX
EXX - Exxaro Resources Limited - Voluntary trading statement for the six months
ended 30 June 2009
EXXARO RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 2000/011076/06
Share Code: EXX
ISIN Number: ZAE000084992
VOLUNTARY TRADING STATEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2009
Shareholders are advised that Exxaro will release its reviewed financial
results for the six months ended 30 June 2009 on 20 August 2009.
Exxaro`s consolidated net operating profit is expected to show an improvement
when compared to the corresponding period in 2008. The group results were,
however, negatively impacted by the global economic meltdown affecting both
demand and prices, exacerbated by the timing of the volatility of the South
The coal business is expected to deliver higher operating results than the
corresponding period in 2008 due primarily to higher sales volumes to Eskom
and international clients, offset by lower non-Eskom local sales volumes and
lower international steam coal prices.
The mineral sands business will report a consolidated net operating loss.
Namakwa Sands and Australia Sands recorded net operating profits, however,
the KZN Sands operation will report a net operating loss resulting from lower
sales volumes due to lower global demand.
The base metals business is expected to report a modest net operating profit
due mainly to lower average realised zinc prices and lower demand.
Attributable earnings for the six months ended 30 June 2009 include the
group`s 20% interest in Sishen Iron Ore Company (Pty) Ltd (SIOC), an effective
22% interest in Chifeng, a 26% interest in Black Mountain Mining (Pty) Limited
(Black Mountain) and results for Namakwa Sands. Attributable earnings for the
corresponding period in 2008 exclude Namakwa Sands and the 26% interest in
Black Mountain which were only acquired during the second half of 2008.
Attributable earnings for six months ended 30 June 2009 are expected to be
between R1 375 million and R1 405 million. This equates to attributable
earnings per share of between 399 cents and 407 cents, representing an
increase of between 10% to 12% when compared with the corresponding period
Headline earnings per share for the six months ended 30 June 2009 of between
400 cents and 410 cents, representing an increase of between 6% and 9% when
compared with the corresponding period in 2008, are expected.
The financial information on which this trading statement is based has not
been reviewed nor reported on by Exxaro`s auditors. This statement is issued
in compliance with section 3.4 (b) of the Listings Requirements of the JSE
Exxaro is one of the largest South African-based diversified resources
companies, with interest in the coal, mineral sands, base metals and
iron ore commodities. www.exxaro.com
Wim de Klerk
Tel: + 27 12 307 4848
Mobile: +27 82 652 5145
13 August 2009
Deutsche Securities (SA) (Pty) Limited
Date: 13/08/2009 16:30:01 Supplied by www.sharenet.co.za
Produced by the JSE SENS Department .
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.