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Trading statement for the year ending 31 December 2015
EXXARO RESOURCES LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
JSE share code: EXX
ISIN: ZAE000084992
ADR code: EXXAY
(“Exxaro” or “the company”)
TRADING STATEMENT FOR THE YEAR ENDING 31 DECEMBER 2015
Shareholders are advised that Exxaro will release its reviewed annual financial results for
the year ending 31 December 2015 on 3 March 2016.
The group’s net operating loss reported for the year ended 31 December 2014 is expected
to improve by at least R658 million (20%) for the year ending 31 December 2015, primarily
due to the non-recurring pre-tax impairment loss of the Mayoko iron ore project amounting to
R5 760 million in 2014.
A marginally higher net operating profit is expected from the coal operations for the year
ending 31 December 2015 mainly due to higher export coal sales volumes at lower average
Rand selling prices and higher Eskom sales due to the Medupi power station ramp-up in
2015, off-set by the non-recurring shortfall income recorded in 2014. Following the
acquisition of Total Coal South Africa Proprietary Limited, the coal operations’ financial
results for 2015 will include this business (now renamed to Exxaro Coal Central Proprietary
Limited) with effect from 1 September 2015.
Headline earnings for the year ending 31 December 2015 are likely to be at least
R973 million (20%) lower than the comparative period ended 31 December 2014. The
decrease in headline earnings is primarily attributable to the expected decrease in income
from equity-accounted investments as a result of the decrease in iron ore, mineral sands and
pigment commodity prices in 2015. As such, headline earnings per share (HEPS) are also
likely to be at least 274 cents (20%) lower than the comparative year ending
31 December 2015.
Attributable losses reported for the year ended 31 December 2014 are likely to improve by at
least R177 million (20%) for the year ending 31 December 2015. This improvement is
primarily due to the non-recurring post-tax impairment loss of the Mayoko iron ore project
amounting to R5 208 million recorded in the year ended 31 December 2014. As such,
attributable losses per share (ALPS) are also likely to improve by at least 50 cents (20%)
than the comparative period ended 31 December 2014.
Shareholders are advised that a further trading statement will be issued, as soon as the
board of directors has reasonable certainty on the ranges for HEPS and attributable
earnings/losses per share as required by the Listings Requirements of the JSE Limited.
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 Listings Requirements of the JSE Limited.
Editor’s note:
Exxaro is one of the largest South African based diversified resources companies, with interests in the coal,
titanium dioxide and ferrous 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
11 November 2015
Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking Division)
Date: 11/11/2015 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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