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EXX - Trading Statement for the year ended 31 December 2023
EXXARO RESOURCES LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
JSE share code: EXX
ISIN: ZAE000084992
ADR code: EXXAY
Bond Code: EXX05
ISIN No: ZAG000160334
("Exxaro" or the "Company")
TRADING STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023
Shareholders are advised that Exxaro and its directors have a reasonable degree of certainty
relating to the expected financial results of Exxaro for the year ended 31 December 2023.
Headline earnings per share (HEPS) for the year ended 31 December 2023 is expected to
decrease between 16% and 30% compared to the year ended 31 December 2022. This is
attributable to lower export sales prices realized, partially offset by higher prices achieved in the
domestic market, and the impact of a weaker Rand/US Dollar exchange rate at our coal operations.
We expect a higher contribution from our energy business due to improved wind conditions
compared to 2022, as well as higher income from our equity-accounted investment in Sishen Iron
Ore Company Proprietary Limited.
The decrease in attributable earnings per share for the year ended 31 December 2023 compared
to the year ended 31 December 2022 is expected to be within the 20% range in terms of the JSE
Listings Requirements.
EBITDA(1) for the year ended 31 December 2023 is expected to decrease between 23% and 37%
compared to the year ended 31 December 2022.
The expected ranges are summarised below:
Unit 31 December 31 December 31 December 31 December
2022 2023 2023 2023
Reported Expected Expected range Expected range
earnings earnings
HEPS cents 6 016 5 053 – 4 211 16% - 30% 963 – 1 805
decrease cents decrease
EBITDA(1) R 19 002 14 632 – 11 971 23% - 37% R4 370 – R7 031
million decrease million decrease
Shareholders are advised that Exxaro will release its reviewed condensed financial results for the
year ended 31 December 2023 on or about 14 March 2024. Further details are available on our
website, www.exxaro.com.
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 JSE Listings Requirements.
(1)EBITDA is calculated by adjusting net operating profit before tax with depreciation, amortisation, impairment charges or
impairment reversals and net losses or gains on disposal of assets and investments (including translation differences recycled to
profit or loss).
EBITDA is not a defined term under International Financial Reporting Standards (IFRS) and may not be comparable with similarly
titled measures reported by other companies.
Editor's note:
Exxaro is one of the largest South African based diversified resources companies, with main
interests in the coal, iron ore and renewable energy commodities. www.exxaro.com
Enquiries:
Ling-Ling Mothapo, Chief Investor Relations & Liaison officer
Tel: + 27 12 307 4590
Email: Ling-Ling.Mothapo@exxaro.com
Pretoria
07 March 2024
Lead Equity Sponsor and Debt Sponsor
Absa Bank Limited (acting through its corporate and investment banking division).
Joint Equity Sponsor
Tamela Holdings Proprietary Limited
Date: 07-03-2024 07:05:00
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