REVIEWED CONDENSED GROUP FINANCIAL STATEMENTS AND UNREVIEWED PRODUCTION AND SALES VOLUMES INFORMATION for the year ended 31 December 2015

SALIENT FEATURES

 

Owner-controlled operations

  • Coal sales at 43Mt,
    up 5%
  • Core coal NOP of
    R4,3 billion, up 29%
 
 
 

SIOC

  • R967 million core posttax equity-accounted income, down 67%
  • No dividends declared for FY15
 
 

Tronox

  • R1,3 billion core post-tax equity losses
  • Dividend of R668 million
 
 
 

Group

  • Net debt: equity of 8,8%
  • Capital expenditure reduction
    – R807 million FY15 capex cut
    – R3 billion further coal capex cut to FY20
  • Cost savings
    – R408 million paid i VSPs*
    – R250 million future labour bill savings p/a**
    – R288 million procurement savings p/a
  • Final dividend of 85cps, down 60%
 

*Voluntary severance and termination packages **per annum #Core numbers
Please refer to the inside back cover for an explanation of the accronyms used throughout this book.

EXXARO 2015 PERFORMANCE AT A GLANCE

    Sustainable
operations
  • 18 months fatality free
    Lost-time injury frequency rate (LTIFR)
    improved 11% to 0,17
   
    Strong profit
margins and
resilient
balance
sheet
  • Core net operating profit margin of 19%,
    in line with FY14
  • R1,1 billion losses from investments,
    down 145% from FY14 profits
  • Headline earnings per share (HEPS)
    down 67% at 457 cps
  • R1,7 billion impairment of assets
  • Net debt to equity at 8,8%
   
    Cost and
capital
expenditure
discipline
  • 464 termination packages
  • Procurement contracts review savings
    – R288 million
  • Capital expenditure reduced by 25% to
    R2,4 billion
   
    Growth in
coal
  • R4,3 billion coal core net operating profit
    (NOP)
  • Operating profit margin of 24%
    Volumes up:
    – Production – 7% at 42 million tonnes (Mt)
    – Sales – 5% at 43Mt
    – Exports – 17% at 6Mt
   
    Maintain
dividend
policy
  • Final dividend of 85 cents per share
    (cps) at a core earnings cover of
    2,8 times