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EXX: Trading Statement For The Six-Month Period Ended 30 June 2022
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: ZAG000160334
(Exxaro or the Company)
TRADING STATEMENT FOR THE SIX-MONTH PERIOD ENDED 30 JUNE 2022
Shareholders are advised that Exxaro and its directors have a reasonable degree of certainty relating
to the expected financial results of Exxaro for the six-month period ended 30 June 2022.
Headline earnings per share (HEPS) for the six-month period ended 30 June 2022 is expected to
increase between 18% and 32% compared to the six-month period ended 30 June 2021. This is
mainly due to the exceptional performance of our coal business driven by higher sales prices and
higher sales volumes, despite logistical challenges, more than offsetting the lower income from our
equity-accounted investment in Sishen Iron Ore Company Proprietary Limited. In addition, HEPS are
based on a lower weighted average number of shares (WANOS) of 242 million following our share
repurchase program. WANOS for the six-month period ended 30 June 2021 was 250 million.
The increase in attributable earnings per share for the six-month period ended 30 June 2022 is
expected be within the 20% range in terms of the JSE Listing Requirements.
EBITDA(1) for the six-month period ended 30 June 2022 is expected to increase between 137% and
151% compared to the six-month period ended 30 June 2021, mainly attributable to the exceptional
performance of the coal business as set out above.
There were no non-core adjustments2 for both the six-month periods ended 30 June 2022 and 30
June 2021.
The expected ranges are summarised below: -
Unit 30 June 2021 30 June 2022 30 June 2022 30 June 2022
Reported Expected Expected range Expected range
earnings earnings
HEPS cents 2 722 3 211 – 3 593 18% - 32% increase 490 - 871 cents
increase
EBITDA1 R 4 331 10 264 – 10 871 137% - 151% R5 933 – R6 540
million increase million increase
Shareholders are advised that Exxaro will release its reviewed financial results for the six-month
period ended 30 June 2022 on or about 18 August 2022. 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
reversals and net losses or gains on disposal of assets and investments (including translation differences recycled to profit
or loss).
(2)Non-core items adjustments are defined as any major non-recurring transactions identified by management at each
reporting period.
These are not defined terms under International Financial Reporting Standards (IFRS) and may not be comparable with
similarly titled measures reported by other companies. The afore-mentioned adjustments are the responsibility of the
directors of Exxaro. The adjustments have been prepared for illustrative purposes only and due to their nature, may not
fairly present Exxaro´s financial position, changes in equity, results of operations or cash flows.
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:
Mzila Mthenjane, Executive head: Stakeholder Affairs
Tel: + 27 12 307 7393
Mobile: +27 83 417 6375
Email: Mzila.mthenjane@exxaro.com
Pretoria
16 August 2022
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: 16-08-2022 02:12:00
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