AFRICAN RAINBOW MINERALS LIMITED - Trading Statement for the six months ended 31 December 2022 (1H F2023)

Trading Statement for the six months ended 31 December 2022 (1H F2023)

African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
(“ARM” or the “Company”)


TRADING STATEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2022
(1H F2023)

In terms of paragraph 3.4(b) of the Listings Requirements of the
JSE Limited, a listed company is required to publish a trading
statement as soon as it is satisfied that a reasonable degree of
certainty exists that the financial results for the period to be
reported on next will differ by at least 20% from those of the
previous corresponding period.

Headline earnings for 1H F2023 are expected to increase by between
34% and 44% compared to the corresponding six months ended 31
December 2021 (1H F2022) to between R4 953 million and R5 322
million (1H F2022: R3 696 million) mainly driven by higher headline
earnings from the manganese and coal operations. Headline earnings
per share are therefore expected to be between 2 529 cents and 2
717 cents (1H F2022: 1 887 cents).

Basic earnings for 1H F2023 are expected to increase by between 8%
and 16% to between R4 204 million and R4 516 million (1H F2022: R3
893 million) and include the following impairments (after tax, on
an attributable basis):
           - An impairment of property, plant and equipment at
             Beeshoek Mine of R659 million;
           - An impairment of property, plant and equipment at Cato
             Ridge Works of R28 million; and
           - An impairment of the Investment in Sakura Ferroalloys
             of R149 million.

Basic earnings per share are therefore expected to be between
2 147 cents and 2 306 cents (1H F2022: 1 988 cents).

The financial information on which this trading statement is based
has not been reviewed or reported on by ARM's external auditors.

The Company’s 1H F2023 financial results will be released on 6
March 2023.

ENDS
                                                                
For all investor relations queries please contact:

Jongisa Magagula
Executive Director for Investor Relations and New Business
Development.
Tel:      +27 11 779 1507
E-mail:   jongisa.magagula@arm.co.za

Johannesburg
16 February 2023
Sponsor: Investec Bank Limited




                                                             

Date: 16-02-2023 12:46:00
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