News Flash
- Exxaro Resources, is a public company incorporated in South Africa with interests in the coal, energy and ferrous markets, have released their financial statements for the six-month period ended 30 June 2023.
- And the winner is…….wind energy!
Group revenue decreased by 15% to R18 943 million (1H22: R22 330 million), driven by lower sales prices, lower sales volumes, and ongoing logistical challenges, offset by a slightly weaker exchange rate at our coal business.
The revenue contribution from our energy business was 17% higher than 1H22. Energy generation from the Cennergi wind assets was higher, driven by an improvement in wind conditions from the prior year despite an energy generation loss due to an Eskom line fault.
Group EBITDA decreased by 28% to R7 661 million (1H22: R10 603 million), mainly attributable to the 34% decrease in Coal EBITDA, which is discussed in more detail under the coal business performance.
Link to the full interim report HERE
Author: Bryan Groenendaal
