THUNGELA RESOURCES
LIMITED
(Incorporated in the Republic of
South Africa)
Registration number:
2021/303811/06
JSE Share Code: TGA
LSE Share Code: TGA
ISIN: ZAE000296554
Tax number: 9111917259
('Thungela' or the 'Company' and,
together with its affiliates, the 'Group')
Thungela Resources Limited Trading Statement for the year
ended 31 December 2023
Shareholders are advised that
Thungela and its directors have a reasonable degree of certainty
related to the expected financial results of the Group for the year
ended 31 December 2023 in line with paragraph 3.4(b) of the
JSE Listings Requirements.
Expected earnings per share and headline earnings per
share
Shareholders are advised that
earnings per share ('EPS') for the year ended 31 December 2023
(the 'current period') is expected to be between R34 and R39, a
decrease of between R88.08 and R93.08 per share compared to EPS of
R127.08 for the year ended 31 December 2022 (the 'prior period').
Earnings attributable to the shareholders of the Group for the
current period is expected to be between R4.6 billion and R5.3
billion.
Headline earnings per
share1 ('HEPS') for the current period is expected to be between R31
and R36, a decrease of between R94.82 and R99.82 per share compared
to HEPS of R130.82 for the prior period. Headline earnings
attributable to the shareholders of the Group for the current
period is likely to be between R4.3 billion and R4.9 billion
(compared to R17.5 billion in the prior period).
These earnings numbers include
various once-off, non-cash adjustments related to the acquisition
of the Ensham Business, and the related accounting treatment
thereof. The Group has consolidated 85% of the results of the
Ensham Business from the acquisition date of 31 August
2023.
These EPS and HEPS figures are
calculated using a weighted average number of shares of 137,056,628
for the current period and 133,684,828 for the prior
period.
The expected EPS and HEPS ranges for
the current period are summarised in the table below:
|
|
Expected
EPS/HEPS range (Rand per share)
|
Expected
decrease from prior period
(Rand per
share)
|
Expected
decrease from prior period
(%)
|
|
EPS
|
34.00 -
39.00
|
88.08 -
93.08
|
69 -
73
|
|
HEPS
|
31.00 -
36.00
|
94.82 -
99.82
|
72 -
76
|
Key areas of judgement which may
impact the expected EPS and HEPS figures above are in the process
of being finalised, and any changes to these ranges, if necessary,
will be communicated to shareholders.
Thungela expects to release its
financial results for the year ended 31 December 2023 on 18 March
2024. The financial results will be released on the Stock Exchange
News Service of the JSE and the Regulatory News Service of the
London Stock Exchange, and will be accompanied by an investor
webinar and conference call on the same date.
The live webinar and conference call
will start at 12:00 SAST (10:00 GMT). Details to register for the
webinar and conference call are available below:
Webinar registration:
https://78449.themediaframe.com/links/thungela240318_1200.html
Conference call
registration:
https://services.choruscall.za.com/DiamondPassRegistration/register?confirmationNumber=1552324&linkSecurityString=48259d3f0
Deon Smith
Chief financial officer
Footnote
1. HEPS is determined in reference to Circular 1/2023 - Headline
earnings ('Circular 1/2023') as issued by the South African
Institute of Chartered Accountants. In order to calculate headline
earnings, earnings attributable to the equity shareholders of the
Group is adjusted for separately identifiable remeasurements, as
defined in Circular 1/2021, net of related tax and non-controlling
interests.
Rosebank
23 February 2024
Review of Trading Statement
The information contained in this
Trading Statement is the responsibility of the directors of
Thungela and has not been reviewed or reported on by the Group's
independent external auditor.
Disclaimer
This document includes
forward-looking statements. All statements other than statements of
historical facts included in this document, including, without
limitation, those regarding Thungela's financial position,
business, acquisition and divestment strategy, dividend policy,
plans and objectives of management for future operations (including
development plans and objectives relating to Thungela's products,
production forecasts and reserve and resource positions), are
forward-looking statements. By their nature, such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of Thungela, or industry results, to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. The Group
assumes no responsibility to update forward-looking statements in
this announcement except as required by law.
The information contained within
this announcement is deemed by the Company to constitute inside
information as stipulated under the market abuse regulation (EU)
no. 596/2014 as amended by the market abuse (amendment) (UK mar)
regulations 2019. Upon the publication of this announcement via the
regulatory information service, this inside information is now
considered to be in the public domain.
Investor Relations
Ryan Africa
Email: ryan.africa@thungela.com
Shreshini Singh
Email: shreshini.singh@thungela.com
Media Contacts
Hulisani Rasivhaga
Email: hulisani.rasivhaga@thungela.com
UK
Financial adviser and corporate broker
Liberum Capital Limited
Sponsor
Rand Merchant Bank
(A division of FirstRand Bank
Limited)
