REG - Thungela Resources - Trading Statement

Thungela ResourcesAnnouncement

08/08/2025 09:00

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RNS Number : 5925U  Thungela Resources Limited  08 August 2025

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 six months ended 30 June
2025

 

Shareholders are advised that the board of directors of Thungela has a
reasonable degree of certainty related to the expected financial results of
the Group for the six months ended 30 June 2025 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 six months
ended 30 June 2025 (the 'current period') is expected to be between R1.40 and
R2.10, a decrease of between R7.42 and R8.12 per share compared to reported
EPS of R9.52 for the six months ended 30 June 2024 (the 'prior period').
Earnings attributable to the shareholders of the Group for the current period
is expected to be between R180 million and R280 million.

 

Headline earnings per share(1) ('HEPS') for the current period is also
expected to be between R1.40 and R2.10, a decrease of between R7.42 and R8.12
per share compared to reported HEPS of R9.52 for the prior period. Headline
earnings attributable to the shareholders of the Group for the current period
is expected to be between R180 million and R280 million.

 

These EPS and HEPS figures are calculated using a weighted average number of
shares of 131,790,424 for the current period and 135,382,283 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  Expected decrease from prior period

                                                 (Rand per share)                     (%)
 EPS   1.40 - 2.10                               7.42 - 8.12                          78 - 85
 HEPS  1.40 - 2.10                               7.42 - 8.12                          78 - 85

 

 

 

Earnings attributable to the shareholders of the Group have been impacted by
the ongoing challenging market conditions, as well as restructuring costs of
R285 million recognised relating to costs to be incurred as the Goedehoop and
Isibonelo operations reach the end of their lives in 2025.

 

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 six months ended 30
June 2025 on 18 August 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/thungela250818_1200.html
(https://78449.themediaframe.com/links/thungela250818_1200.html)

 

Conference call:
https://services.choruscall.eu/DiamondPassRegistration/register?confirmationNumber=2631362&linkSecurityString=63eaf3262
(https://services.choruscall.eu/DiamondPassRegistration/register?confirmationNumber=2631362&linkSecurityString=63eaf3262)
 

 

 

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

8 August 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 announcement includes forward-looking statements. All statements other
than statements of historical facts included in this announcement, 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
(mailto:hulisani.rasivhaga@thungela.com)

 

 

UK Financial adviser and corporate broker

Panmure Liberum Limited

 

 

Sponsor

Rand Merchant Bank

(A division of FirstRand Bank Limited)

 

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