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Trading Statement for the year ending 31 December 2012
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 YEAR ENDING 31 DECEMBER 2012
In terms of the Listings Requirements of the JSE Limited (“Listings Requirements”), listed
companies are required to publish a trading statement as soon as they are satisfied that a
reasonable degree of certainty exists that the financial results for the period to be reported
upon next will differ by at least 20% from those of the prior comparative period.
Consolidated net operating profit for the group is expected to show an increase when
compared to the corresponding period in 2011, mainly due to the profit on the sale of
subsidiaries and other non-core assets. The mineral sands and Rosh Pinah operations
effectively contributed to net operating profit for six months in 2012 compared to
12 months in 2011.
The coal business is expected to deliver lower operating profit compared to the
corresponding period in 2011 primarily due to lower international and domestic selling
prices, coupled with lower volumes.
Exxaro’s income from its equity accounted investments is expected to decline in 2012
when compared to that achieved in the corresponding 2011 period mainly as a result of
lower export iron ore prices coupled with an expected decline in the profits of the Sishen
Iron Ore Company Proprietary Limited investment as recently announced by Kumba Iron
Ore Limited (“KIO”). The recent announcement by KIO of an expected decrease in
earnings for the 2012 financial year by at least 20%, coupled with the historical trend of
Exxaro’s performance linked to KIO, leads Exxaro management to expect a lower
investment income from this investment. Furthermore, the contribution from the Tronox
equity accounted investment is expected to be lower than the 2011 second half operating
profit contribution from the mineral sands business as a result of reduced demand and
lower commodity prices, mainly zircon and pigment.
When compared to the previous corresponding period headline earnings per share are
expected to decrease by at least 20% whereas attributable earnings per share are
expected to increase by at least 20%.
Exxaro is not in a position at this stage to provide more specific guidance. Shareholders
are therefore advised that further guidance will be provided once Exxaro and its directors
have obtained a reasonable degree of certainty relating to the expected financial results
and a further trading statement will be issued in terms of the Listings Requirements.
The forecast financial information on which this trading statement is based has not been
reviewed, audited nor reported on by Exxaro’s external auditors.
Shareholders are advised that Exxaro will release its audited financial results for the year
ending 31 December 2012 on 07 March 2013.
Editors note:
Exxaro is one of the largest South African based diversified resources companies, with
interests in the coal, mineral sands, and iron ore commodities. www.exxaro.com
Enquiries:
Wim de Klerk
Finance Director
Tel: + 27 12 307 4848
Mobile: +27 82 652 5145
Email: wim.deklerk@exxaro.com
Pretoria
30 November 2012
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
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