|
EXX
EXX
EXX - Exxaro Resources Limited - Trading statement for the year ended 31
December 2011
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 ENDED 31 DECEMBER 2011
Shareholders are advised that Exxaro will release its audited financial
results for the year ended 31 December 2011 on 23 February 2012.
Consolidated net operating profit for the group is expected to show an
improvement when compared with the corresponding period in 2010, mainly due to
strong demand and generally higher prices across the majority of its commodity
suite, partially offset by a stronger average realised local currency and
Australian dollar against the US dollar.
The coal business is expected to deliver higher operating profit than the
corresponding period in 2010 primarily due to higher export volumes at higher
international selling prices, despite lower sales volumes from its operations
captive to Eskom.
It is expected that the mineral sands business will also report a higher
operating profit than the corresponding period in 2010 due to a general
increase in selling prices of its products, in addition to the partial
impairment reversal of approximately R869 million of the carrying value of the
property, plant and equipment at the KZN Sands operations.
The base metals business will report a consolidated net operating loss due to
the decision taken by the board of directors of Exxaro to cease operations at
the Zincor refinery, compounded by an impairment of R516 million of the
carrying value of the Zincor property, plant and equipment.
Headline earnings per share, which exclude the impact of the impairment of the
carrying value of the Zincor property, plant and equipment as well as the
impact of the partial impairment reversal of the carrying value of the KZN
Sands property, plant and equipment for the year ended 31 December 2011, are
expected to be between1 901 cents and 2 140 cents, representing an increase of
between 27% and 43% when compared with the comparative period in 2010.
Attributable earnings for the year ended 31 December 2011 are expected to be
between R6 964 million and R7 806 million. This equates to attributable
earnings per share of between 2 001 cents and 2 243 cents, representing an
increase of between 33% and 49% when compared with the corresponding period in
2010.
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.
Editors note:
Exxaro is one of the largest South African based diversified resources
companies, with interests in the Coal, Mineral sands, Base metals 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
03 February 2012
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 03/02/2012 07:30:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS. |
|