Black-controlled diversified resources group Exxaro, which created 746 jobs and supported 30 small, medium-sized and microenterprises in the twelve months to December 31, reported a R235-million top-line 2019 increase, raised its dividend payout and lifted headline earnings a share. Core earnings declined by 20%, mainly on the impact of the 27% drop in the export API4 coal price, local inflationary cost pressures and higher rehabilitation costs at its closed operations. The strong performance of iron-ore in its commodities basket saw a 70% increase in core equity income from Exxaro’s investment in Sishen Iron Ore Company, which led to a 7% increase in core headline earnings a share. The JSE-listed company, headed by CEO Mxolisi Mgojo, reported a resilient operational performance, despite the sharp drop in thermal coal pricing and what it described as worsening global and domestic economic headwinds in the year.
