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Exxaro reports higher FY'18 earnings YOY

Exxaro Resources Ltd. on March 14 reported a rise in attributable EPS for 2018 to 28.01 South African rand, from 19.23 rand a year earlier, at the upper end of the range expected by the company earlier in March.

Core headline earnings jumped 14% to 7.17 billion rand from 6.3 billion rand.

Total revenue for the year jumped 12% to 25.5 billion rand. Revenue generated by coal rose 11% to 25.3 billion rand mainly due to higher coal selling prices and higher commercial volumes at Grootegeluk in South Africa, partially offset by a lower-quality product mix.

The company paid a final dividend of 5.55 rand per share, increasing the full-year dividend by 55% to 10.85 rand.

Total coal production in 2018 rose to 47.8 million tonnes from 45.6 million tonnes in 2017. Sales in the period rose slightly to 45.2 million tonnes from 44.5 million tonnes a year earlier. The domestic market was strong throughout 2018, while the export market showed strong demand for most of the year, the company said.