| Mon 16 Feb 2009, 16:30 | | EXX - Exxaro - Trading Statement For The 12 Months Ended 31 December 2008 |
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EXX
EXX
EXX - Exxaro - Trading Statement For The 12 Months Ended 31 December 2008
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 12 MONTHS ENDED 31 DECEMBER 2008
Shareholders are advised that Exxaro will release its audited financial results
for the 12-month period ended 31 December 2008 on or about 24 February 2009.
Exxaro`s coal business is expected to deliver a substantial improvement in net
operating profit for the period under review as strong demand resulted in higher
sales at improved average prices when compared to the corresponding period in
2007. The mineral sands business will report a consolidated net operating
profit as improved results from the KZN Sands operation and a first contribution
from Namakwa Sands, subsequent to its acquisition effective from 1 October 2008,
are expected to offset an operating loss in the Australia Sands operation. The
base metals business is expected to report a net operating loss due mainly to
significantly lower average zinc prices and an increased environmental
rehabilitation provision at the Zincor refinery.
Exxaro`s attributable earnings which include the group`s equity accounted
earnings from its 20% shareholding in Sishen Iron Ore Company (Pty) Ltd also
incorporates the financial results of its 26% interest in Black Mountain Mining
(Pty) Ltd from 1 November 2008. Attributable earnings for the period under
review are expected to be substantially higher at between R3 365 and R3 415
million, with attributable earnings per share being between 981 cents and 997
cents, despite the group`s equity accounted share of the operating loss and an
impairment of assets incurred in Black Mountain Mining (Pty) Ltd. Exxaro
reported attributable earnings of R1 427 million or 418 cents per share for the
corresponding period ended 31 December 2007.
Headline earnings, which exclude the impairment of assets in Black Mountain
Mining (Pty) Ltd are expected to be between R3 585 million and R3 635 million,
or 1 045 cents and 1 060 cents per share, compared to R1 448 million or 425
cents per share reported for the corresponding period ended 31 December 2007.
Exxaro will provide for comparative purposes only, comparable unaudited
supplementary financial and physical information in the release of its financial
results for the 12-month period ended 31 December 2008 as if the investments in
Namakwa Sands and Black Mountain Mining (Pty) Ltd had been acquired on 1 January
2007.
The financial information, on which this trading statement is based, has not
been reviewed nor reported on by Exxaro`s auditors. This statement is issued in
compliance with section 3.4(b) of 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.
Enquiries:
Trevor Arran
Executive General Manager: Corporate Affairs & Strategy
Tel: +27 12 307 3292
Mobile: +27 83 609 1444
Email: trevor.arran@exxaro.com
Pretoria
16 February 2009
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 16/02/2009 16:30:02 Produced by the JSE SENS Department.
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