in other reports. “We anticipate a stable contribution from our energy business, supported by consistent wind conditions. However, the financial performance of our equity-accounted investments is expected to decline, particularly in Sishen Iron Ore Company due to lower iron ore prices and sales volumes, and in Mafube, due to lower export prices,” Exxaro’s directors said. Attributable earnings per share are expected to decrease between 26% and 40% compared to the year ended December 31, 2023. Earnings before interest, tax, depreciation, and amortisationfor the year are expected to decrease between 16% and 30%. The results are anticipated to be released on or about March 13, 2025. BUSINESS REPORT18:T714,

Exxaro Resources has announced that its headline earnings per share (HEPS) are expected to decline by between 30% and 40% for the year ending December 31, largely due to lower iron ore prices and reduced sales volumes.

While revenue for the company, one of South Africa’s top five coal producers, is expected to improve, this has been offset by cost pressures. These include inflation and higher selling and distribution costs, as stated in a trading statement released on Friday.

Additionally, there have been increased operational and maintenance costs, primarily driven by higher volumes of overburden.

The share price closed 3.73% weaker at R150.98 on Friday, compared to R155 a year ago.

The company’s CEO, Nombasa Tsengwa, resigned last month ahead of a disciplinary process and an investigation into her conduct. She had been placed on precautionary suspension in December pending the outcome of an independent investigation regarding her workplace conduct and governance practices, claims that she had denied, as cited in other reports.

“We anticipate a stable contribution from our energy business, supported by consistent wind conditions. However, the financial performance of our equity-accounted investments is expected to decline, particularly in Sishen Iron Ore Company due

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Exxaro Resources reports decline in headline earnings per share amid lower iron ore prices