JOHANNESBURG (miningweekly.com) – Despite heightened geopolitical tensions, increasing inflationary pressures and broader macroeconomic headwinds, South African resources group Exxaro delivered a strong first-half performance, driven by disciplined strategy execution, operational excellence and underpinned by its commitment to achieve zero harm, the company reported on Thursday, August 20.
Overall group revenue increased 7% to R22.1-billion, primarily driven by the coal and energy businesses, with earnings before interest, taxes, depreciation and amortisation (Ebitda) flat at R5.6-billion.
The renewable-energy business continued to scale, with energy generation increasing by 12% to 378 GWh.
Cash generation was up 15% at R6.1-billion, enabling Exxaro to fund sustaining capital, energy expansion capital and dividends.
Headline earnings fell to R3.2-billion on lower equity-accounted income from Sishen and Black Mountain. This was partially offset by the contribution from manganese, which contributed to the group Ebitda for the first time for the last four months of the reporting period.
