Kumba Iron Ore Limited
Registration number: 2005/015852/06
JSE share code: KIO
ISIN: ZAE000085346
Income tax number: 9586/481/15/3
("Kumba" or "the Company" or "the group")
EXTRACTS FROM THE REVIEWED INTERIM RESULTS FOR THE PERIOD ENDED 30 JUNE 2022 AND INTERIM CASH DIVIDEND DECLARATION
KEY FEATURES
Delivering sustainable value
- ROCE of 98%
- Interim cash dividend of R28.70 per share
- Attributable free cash flow of R9.7 billion
Caring for our people and our communities
- Over six years of fatality-free production
- Zero occupational diseases
- Over seven years without any level 3-5 environmental incidents
Resilient financial performance
- Average realised FOB export price of US$136/wmt, 15% above benchmark
- EBITDA margin of 54%
- Closing net cash of R17.6 billion
Committed to sustainable delivery
"The first six months have confirmed that as we set the foundations for further value delivery, we need to build a business that is not only resilient but that demonstrates operational excellence. We have robust fundamentals in the quality of our ore body and our assets. We have the infrastructure and technology in place. With the support of our
people and our strategic partners, we are in a strong position to continue to enhance returns, thereby | ensuring that | |||
all our stakeholders benefit from the continued success of Kumba." | ||||
Mpumi Zikalala, Chief Executive | ||||
REVENUE for the period ended | ||||
30 June | 30 June | % | 31 December | |
Rand million | 2022 | 2021 | change | 2021 |
Revenue | 42,977 | 63,616 | (32) | 102,092 |
EARNINGS PER SHARE for the period ended | ||||
30 June | 30 June | % | 31 December | |
Rand per share | 2022 | 2021 | change | 2021 |
Earnings | ||||
Basic | 36.00 | 72.82 | (51) | 103.67 |
Diluted | 35.92 | 72.60 | (51) | 103.37 |
Headline earnings | ||||
Basic | 36.13 | 72.78 | (50) | 103.65 |
Diluted | 36.04 | 72.56 | (50) | 103.35 |
Dividend |
Interim | 28.70 | 72.70 | (61) | 72.70 |
Final | n/a | n/a | 30.50 | |
SALIENT FEATURES AND OPERATING STATISTICS for the period ended | ||||
30 June | 30 June | % | 31 December | |
Rand million | 2022 | 2021 | change | 2021 |
Market information | ||||
Closing share price (Rand) | 526 | 641 | (18) | 460 |
Market capitalisation (Rand million) | 169,417 | 206,325 | (18) | 148,160 |
Net asset value attributable to owners of Kumba (Rand per share) | 144.60 | 178.45 | (19) | 138.53 |
Operating statistics ('000 tonnes)* | ||||
Production | 17,760 | 20,367 | (13) | 40,862 |
Sishen | 12,921 | 13,944 | (7) | 28,014 |
Kolomela | 4,839 | 6,423 | (25) | 12,848 |
Sales | 19,697 | 19,515 | 1 | 40,262 |
Export sales | 19,697 | 19,408 | 2 | 40,155 |
Domestic sales | - | 107 | (100) | 107 |
Sishen mine FOR unit cost (Rand per dry metric tonne) | ||||
Unit cost | 616.40 | 582.58 | 6 | 555.24 |
Cash cost | 480.68 | 447.95 | 7 | 432.01 |
Kolomela mine FOR unit cost (Rand per dry metric tonne) | ||||
Unit cost | 637.22 | 444.68 | 43 | 444.15 |
Cash cost | 475.02 | 315.35 | 51 | 324.05 |
- Volumes, excluding waste stripping, are reported as wet metric tonnes. Product is shipped with approximately 1.6% moisture.
NOTICE | OF INTERIM | CASH | DIVIDEND | |||||||
At | its | Board meeting on | 25 July 2022, | the directors approved a gross | interim cash | dividend of 2,870 | cents per share | |||
on | the | ordinary shares | from | profits accrued during the period | ended 30 June 2022. | This is | comprised | of | a gross base | |
dividend of | 2,710 | cents | per | share and | a gross top-up dividend | of 160 | cents per share. The | dividend has | been declared | |
from income | reserves. |
The dividend will be subject to a dividend withholding tax of 20% for all shareholders who are not exempt from or do not qualify for a reduced rate of withholding tax. The net dividend payable to shareholders after withholding tax at a rate of 20% amounts to 2,296 cents per share, comprised of a net base dividend of 2,168 cents per share and a net top-up dividend of 128 cents per share.
The issued share capital at the declaration date is 322,085,974 ordinary shares.
The salient dates are as follows:
Publication of declaration data | Tuesday, 26 July 2022 | ||||
Last day | for trading to qualify and participate in the interim dividend | Tuesday, 16 | August 2022 | ||
Trading ex-dividend commences | Wednesday, 17 | August 2022 | |||
Record date | Friday, | 19 | August | 2022 | |
Dividend | payment date | Monday, | 22 | August | 2022 |
Share certificates may not be dematerialised or rematerialised between Wednesday, 17 August 2022 and Friday, 19 August 2022, both days inclusive.
EXTRACTS FROM THE PROVISIONAL REVIEWED INTERIM RESULTS FOR THE PERIOD ENDED 30 JUNE 2022
This unreviewed short form announcement is the responsibility of the directors of the Company. The information disclosed is only a summary of the information in the reviewed full announcement and does not contain full or complete details.
The full interim results announcement should be considered for any investment decisions. The full interim results announcement for Kumba is available for viewing on the Company's website www.angloamericankumba.com/investors/financialresults-centre.aspx and at https://senspdf.jse.co.za/documents/2022/JSE/ISSE/KIO/KumbaInt22.pdf
The full interim results have been reviewed by the Company's auditors, PricewaterhouseCoopers Inc., who issued an unmodified review opinion. The interim results announcement is also available for inspection at the Company's registered office during normal business hours and is available at no charge. Alternatively, copies of the full announcement may be requested from the Company's investor relations department (https://www.angloamericankumba.com/investors/shareholdercommunication).
Any reference to future financial performance included in this announcement has not been reviewed or reported on by the Company's external auditors.
Kumba Iron Ore Limited is a member of the Anglo American plc Group
Directors
Non-executive: TP Goodlace (British/South African) (Chairman), MS Bomela, MA Jenkins, NB Langa-Royds, TM Mkhwanazi, SS Ntsaluba, BP Sonjica, MJ Tsele, DG Wanblad
Executive: ND Zikalala (Chief Executive), BA Mazarura (Zimbabwean) (Chief Financial Officer)
Registered office: Centurion Gate - Building 2B, 124 Akkerboom Road, Centurion, 0157, South Africa
Transfer Secretaries: Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann Avenue, Rosebank, 2196, South Africa, Private Bag X9000, Saxonwold, 2132
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)
26 July 2022
For more information please visit us at: www.angloamericankumba.com
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Kumba Iron Ore Ltd. published this content on 26 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2022 05:28:04 UTC.