Exxaro Resources posts 29% decline in headline earnings
Автор: Newzroom Afrika
Загружено: 2023-08-17
Просмотров: 702
Описание:
Exxaro Resources posted a 29% decline in headline earnings for the six
months ending in June.
When coal prices rose after Russia's invasion of Ukraine in the
previous reporting period, Exxaro and other coal players profited
greatly.
Headline earnings during the reporting period decreased to R5.9
billion as coal prices began to decline.
The primary factors for the 16% decline in coal revenue to little over
R18 billion were lower export prices and lower sales volumes for both
local and export sales.
The energy business's contribution to revenue increased by 17%.
Despite energy-production loss because of an Eskom line fault, energy
generation from the Cennergi wind assets increased due to better wind
conditions than the previous year.
Exxaro CEO Dr Nombasa Tsengwa speaks to Xolani Mbanjwa about the results.
Tune into Newzroom Afrika DStv channel 405 for more.
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