Wrap Text
Extracts from the reviewed interim results for the period ended 30 June 2022 and interim cash dividend declaration
Kumba Iron Ore Limited
Registration number: 2005/015852/06
JSE share code: KIO
ISIN: ZAE000085346
Income tax number: 9586/481/15/3
("Kumba" or "the Company" or "the group")
EXTRACTS FROM THE REVIEWED INTERIM RESULTS FOR THE PERIOD ENDED 30 JUNE 2022 AND INTERIM CASH DIVIDEND DECLARATION
KEY FEATURES
Delivering sustainable value
- ROCE of 98%
- Interim cash dividend of R28.70 per share
- Attributable free cash flow of R9.7 billion
Caring for our people and our communities
- Over six years of fatality-free production
- Zero occupational diseases
- Over seven years without any level 3-5 environmental incidents
Resilient financial performance
- Average realised FOB export price of US$136/wmt, 15% above benchmark
- EBITDA margin of 54%
- Closing net cash of R17.6 billion
Committed to sustainable delivery
"The first six months have confirmed that as we set the foundations for further value delivery, we need to build a
business that is not only resilient but that demonstrates operational excellence. We have robust fundamentals in the
quality of our ore body and our assets. We have the infrastructure and technology in place. With the support of our
people and our strategic partners, we are in a strong position to continue to enhance returns, thereby ensuring that
all our stakeholders benefit from the continued success of Kumba."
Mpumi Zikalala, Chief Executive
REVENUE for the period ended
30 June 30 June % 31 December
Rand million 2022 2021 change 2021
Revenue 42,977 63,616 (32) 102,092
EARNINGS PER SHARE for the period ended
30 June 30 June % 31 December
Rand per share 2022 2021 change 2021
Earnings
Basic 36.00 72.82 (51) 103.67
Diluted 35.92 72.60 (51) 103.37
Headline earnings
Basic 36.13 72.78 (50) 103.65
Diluted 36.04 72.56 (50) 103.35
Dividend
Interim 28.70 72.70 (61) 72.70
Final n/a n/a 30.50
SALIENT FEATURES AND OPERATING STATISTICS for the period ended
30 June 30 June % 31 December
Rand million 2022 2021 change 2021
Market information
Closing share price (Rand) 526 641 (18) 460
Market capitalisation (Rand million) 169,417 206,325 (18) 148,160
Net asset value attributable to owners of Kumba (Rand per share) 144.60 178.45 (19) 138.53
Operating statistics ('000 tonnes)*
Production 17,760 20,367 (13) 40,862
Sishen 12,921 13,944 (7) 28,014
Kolomela 4,839 6,423 (25) 12,848
Sales 19,697 19,515 1 40,262
Export sales 19,697 19,408 2 40,155
Domestic sales - 107 (100) 107
Sishen mine FOR unit cost (Rand per dry metric tonne)
Unit cost 616.40 582.58 6 555.24
Cash cost 480.68 447.95 7 432.01
Kolomela mine FOR unit cost (Rand per dry metric tonne)
Unit cost 637.22 444.68 43 444.15
Cash cost 475.02 315.35 51 324.05
* Volumes, excluding waste stripping, are reported as wet metric tonnes. Product is shipped with approximately 1.6%
moisture.
NOTICE OF INTERIM CASH DIVIDEND
At its Board meeting on 25 July 2022, the directors approved a gross interim cash dividend of 2,870 cents per share
on the ordinary shares from profits accrued during the period ended 30 June 2022. This is comprised of a gross base
dividend of 2,710 cents per share and a gross top-up dividend of 160 cents per share. The dividend has been declared
from income reserves.
The dividend will be subject to a dividend withholding tax of 20% for all shareholders who are not exempt from or do
not qualify for a reduced rate of withholding tax. The net dividend payable to shareholders after withholding tax at
a rate of 20% amounts to 2,296 cents per share, comprised of a net base dividend of 2,168 cents per share and a net
top-up dividend of 128 cents per share.
The issued share capital at the declaration date is 322,085,974 ordinary shares.
The salient dates are as follows:
Publication of declaration data Tuesday, 26 July 2022
Last day for trading to qualify and participate in the interim dividend Tuesday, 16 August 2022
Trading ex-dividend commences Wednesday, 17 August 2022
Record date Friday, 19 August 2022
Dividend payment date Monday, 22 August 2022
Share certificates may not be dematerialised or rematerialised between Wednesday, 17 August 2022 and
Friday, 19 August 2022, both days inclusive.
EXTRACTS FROM THE PROVISIONAL REVIEWED INTERIM RESULTS FOR THE PERIOD ENDED 30 JUNE 2022
This unreviewed short form announcement is the responsibility of the directors of the Company. The information
disclosed is only a summary of the information in the reviewed full announcement and does not contain full or
complete details.
The full interim results announcement should be considered for any investment decisions. The full interim results
announcement for Kumba is available for viewing on the Company's website
www.angloamericankumba.com/investors/financialresults-centre.aspx and at
https://senspdf.jse.co.za/documents/2022/JSE/ISSE/KIO/KumbaInt22.pdf
The full interim results have been reviewed by the Company's auditors, PricewaterhouseCoopers Inc., who issued an
unmodified review opinion. The interim results announcement is also available for inspection at the Company's
registered office during normal business hours and is available at no charge. Alternatively, copies of the full
announcement may be requested from the Company's investor relations department
(https://www.angloamericankumba.com/investors/shareholdercommunication).
Any reference to future financial performance included in this announcement has not been reviewed or reported on
by the Company's external auditors.
Kumba Iron Ore Limited is a member of the Anglo American plc Group
Directors
Non-executive: TP Goodlace (British/South African) (Chairman), MS Bomela, MA Jenkins, NB Langa-Royds, TM Mkhwanazi,
SS Ntsaluba, BP Sonjica, MJ Tsele, DG Wanblad
Executive: ND Zikalala (Chief Executive), BA Mazarura (Zimbabwean) (Chief Financial Officer)
Registered office: Centurion Gate - Building 2B, 124 Akkerboom Road, Centurion, 0157, South Africa
Transfer Secretaries: Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann Avenue,
Rosebank, 2196, South Africa, Private Bag X9000, Saxonwold, 2132
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)
26 July 2022
For more information please visit us at: www.angloamericankumba.com
Date: 26-07-2022 07:05:00
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