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EXX - Exxaro Resources - Trading statement for the 12 months ended 31 December 2009 EXXARO RESOURCES LIMITED Incorporated in the Republic of South Africa (Registration Number: 2000/011076/06) JSE share code: EXX ISIN code: ZAE000084992 ADR code: EXXAY ("Exxaro") TRADING STATEMENT FOR THE 12 MONTHS ENDED 31 DECEMBER 2009 Shareholders are advised that Exxaro will release its audited financial results for the 12month period ended 31 December 2009 on 25 February 2010. Consolidated net operating profit for the group will be significantly lower than for the corresponding period in 2008 as the recessionary conditions had an adverse impact on coal export prices and the demand for mineral sands products. Export revenue at weaker average exchange rates were offset by currency losses on repatriation of foreign currency proceeds, as well as unrealised foreign currency losses on the revaluation of monetary items in foreign currency based on the relative strength of the local currency at 31 December 2009. Exxaro`s coal business will reflect a decrease of between 25% and 30% in net operating profit for the period under review when compared to the corresponding 12 months ended 31 December 2008 mainly due to the softer domestic market conditions for metallurgical coal and steam coal which was partially offset by higher export volumes and higher local power station volumes and prices. The mineral sands business, in which all three business operations recorded a net operating loss, will report a decrease in net operating profit of about R1,7 billion when compared to the corresponding 12 months ended 31 December 2008 mainly due to an impairment of R1,4 billion of the carrying value of the assets of the KwaZulu-Natal operation as communicated to shareholders on 1 December 2009. Lower net operating profit for the Namakwa Sands operation, due to reduced demand, was offset by improved operating results from the Australia Sands operation for the 12 months ended 31 December 2009, albeit still at a loss, resulting from increased production performance and higher sales and prices for both mineral and pigment products. This was despite operating results being adversely impacted by the relative strength of the Australian dollar. While still reporting a small loss, the operating results of the base metals business for the 12 months ended 31 December 2009 were better that those achieved in the corresponding period in 2008. Headline earnings per share for the 12 months ended 31 December 2009 are expected to be between 700 cents and 740 cents representing a decrease of between 34% and 30% when compared to the corresponding period in 2008. Attributable earnings for the 12 months ended 31 December 2009, which are adversely impacted by the impairment, are expected to be between R975 million and R1 040 million. This equates to attributable earnings per share of between 283 cents and 301 cents representing a decrease of between 72% and 70% when compared to the corresponding period in 2008. The financial information on which this trading statement is based has not been reviewed nor reported on by Exxaro`s external auditors. This statement is issued in compliance with section 3.4 (b) of the Listings Requirements of the JSE Limited. Editors note: 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. Enquiries: Wim de Klerk Finance Director Tel: +27 12 307 4848 Mobile: +27 82 652 5145 Email: wim.deklerk@exxaro.com Pretoria 18 February 2010 Sponsor Deutsche Securities (SA) (Proprietary) Limited Date: 18/02/2010 08:36:01 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.
