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 2024
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 2024 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 2024
(the 'current period') is expected to be between R25.00 and R27.50,
a decrease of between R10.16 and R12.66 per share compared to EPS
of R37.66 for the year ended 31 December 2023 (the 'prior period').
Earnings attributable to the shareholders of the Group for the
current period is expected to be between R3.4 billion and R3.7
billion.
Headline earnings per
share1 ('HEPS') for the current period is expected to be
between R24.00 and R26.50, a decrease of between R8.47 and R10.97
per share compared to HEPS of R34.97 for the prior period. Headline
earnings attributable to the shareholders of the Group for the
current period is expected to be between R3.2 billion and
R3.5 billion.
These EPS and HEPS figures are
calculated using a weighted average number of shares of 134,238,447
for the current period and 137,056,628 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
|
25.00 -
27.50
|
10.16 -
12.66
|
27 -
34
|
|
HEPS
|
24.00 -
26.50
|
8.47 -
10.97
|
24 -
31
|
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 2024 on 17 March
2025. 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:
https://78449.themediaframe.com/links/thungela250317_1200.html
Conference call:
https://services.choruscall.za.com/DiamondPassRegistration/register?confirmationNumber=4371045&linkSecurityString=120f2faaf5
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 1/2023, net of related tax and non-controlling
interests.
Johannesburg
28 February 2025
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
Hugo Nunes
Email: hugo.nunes@thungela.com
Shreshini Singh
Email: shreshini.singh@thungela.com
Media
Hulisani Rasivhaga
Email: hulisani.rasivhaga@thungela.com
UK
Financial adviser and corporate broker
Panmure Liberum Limited
Sponsor
Rand Merchant Bank
(A division of FirstRand Bank
Limited)
