EXXARO RESOURCES LIMITED - Update on Trading Statement for the six0month period ended 30 June 2015Release Date: 07/08/2015 15:00:00 Code(s): EXX
EXXARO RESOURCES LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
JSE share code: EXX
ADR code: EXXAY
(?Exxaro? or ?the Company?)
UPDATE ON TRADING STATEMENT FOR THE SIX-MONTH PERIOD ENDED
30 JUNE 2015
Shareholders are advised that Exxaro will release its reviewed financial results for the six-
month period ended 30 June 2015 on 20 August 2015.
Further to the trading statement released by Exxaro on the Stock Exchange News Service on
19 May 2015 in which the Company indicated that, for the period ended 30 June 2015,
* the attributable loss per share would likely show an improvement of at least 20%, and
* headline earnings per share would likely be at least 20% lower
than the six-month period ended 30 June 2014, shareholders are advised that Exxaro and its
directors have obtained a reasonable degree of certainty relating to the expected financial
results of Exxaro for the six-month period ended 30 June 2015.
The group is expected to record net operating profit for the six-month period ended
30 June 2015 compared to the net operating loss recorded in the comparative period in
2014, primarily due to the non-recurring pre-tax impairment loss of the Mayoko iron ore
project amounting to R5 807 million at 30 June 2014.
Lower net operating profit is expected from the carbon operations for the six-month period
ended 30 June 2015 mainly due to lower domestic and export coal sales volumes at lower
average Rand selling prices recorded in 2015, combined with the non-recurrence of the
shortfall income recorded in 2014. This was partly offset by higher Eskom sales due to the
Medupi power station ramp up.
Attributable earnings for the period ended 30 June 2015 are expected to be between
R1 027 million and R1 202 million. This equates to an expected range of basic attributable
earnings per share of between 289 cents and 339 cents, representing an improvement when
measured against the attributable loss per share of 688 cents in the comparative period in
2014 of between 142% and 149%. The 2014 loss was primarily due to the non-recurring
post-tax impairment loss of the Mayoko Iron Ore Project amounting to R5 208 million at
30 June 2014.
Basic headline earnings for the period ended 30 June 2015 are expected to be between
R948 million and R1 099 million. This equates to an expected range for basic headline
earnings per share of between 267 cents and 310 cents, representing a decrease of between
61% and 66% on the 793 cents headline earnings per share reported for the six-month
period ended 30 June 2014. This decrease is primarily attributable to the decrease in
income from the equity-accounted investments, Sishen Iron Ore Company Proprietary
Limited and Tronox Limited, as a result of the significant decrease in the export iron ore and
mineral sands and pigment prices during the period.
The forecast financial information on which this trading statement is based has not been
reviewed, audited nor reported on by Exxaro?s external auditors. This statement is issued in
compliance with the JSE Limited Listings Requirements.
Exxaro is one of the largest South African based diversified resources companies, with interests in the carbon,
titanium dioxide and chemicals and ferrous commodities. www.exxaro.com
Wim de Klerk
Tel: + 27 12 307 4848
Mobile: +27 82 652 5145
07 August 2015
Deutsche Securities (SA) Proprietary Limited
Date: 07/08/2015 03:00:00 Supplied by www.sharenet.co.za
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