Exxaro profits hit by weaker coal prices, logistics problems
Loading player...
GUEST – Riaan Koppeschaar - Exxaro Finance Director
Exxaro Resources has reported a 32% drop in interim profit and a 29% drop in headline earnings per share driven by lower thermal coal prices, sub-par rail performance and lower Eskom offtake. The company reported a decline in profit to R6.3 billion for the first half of the year, compared to R9.2 billion in the first half of 2022. Headline earnings per share of R24.43, had decreased from R34.26 in the comparative half. Group revenue declined 15% to R18.9 billion – down from R22.3 billion in the first half of 2022. Overall coal production volumes were down by 7% to 20.2 million tonnes.
Exxaro Resources has reported a 32% drop in interim profit and a 29% drop in headline earnings per share driven by lower thermal coal prices, sub-par rail performance and lower Eskom offtake. The company reported a decline in profit to R6.3 billion for the first half of the year, compared to R9.2 billion in the first half of 2022. Headline earnings per share of R24.43, had decreased from R34.26 in the comparative half. Group revenue declined 15% to R18.9 billion – down from R22.3 billion in the first half of 2022. Overall coal production volumes were down by 7% to 20.2 million tonnes.
