Exxaro warns of lower interim earnings
Resources company Exxaro Resources expects to report a 23% to 37% year-on-year decrease in earnings per share (EPS) and headline earnings per share (HEPS) for the six months ended June 30.
The company, which will publish its interim results on August 17, further warns that its earnings before interest, taxes, depreciation and amortisation (Ebitda) for the interim period are likely to be between 22% and 36% lower year-on-year.
Exxaro reported EPS of R34.09, HEPS of R34.26 and Ebitda of R10.6-billion for the six months ended June 30, 2022.
"The decrease in earnings at our own managed operations is largely attributable to lower coal sales prices and volumes, compounded by the impact of ongoing logistical challenges," Exxaro states.
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