Exxaro Resources Limited
Annual Financial Statements 2022
| Group | |||
| For the year ended 31 December | Note | 2022 Rm |
(Re‑presented)1 2021 Rm |
| Profit before tax | 22 292 | 18 955 | |
|---|---|---|---|
| – Continuing operations | 22 292 | 16 684 | |
| – Discontinued operations | 6.1.4 | 2 271 | |
| Adjusted for: | |||
| – Finance income | (694) | (239) | |
| – Finance costs | 1 052 | 860 | |
| – Dividend income from financial assets | (6) | (55) | |
| – Share of income of equity-accounted investments | (6 477) | (9 844) | |
| – Impairment charges of equity-accounted investments | 53 | ||
| Net operating profit | 16 220 | 9 677 | |
| – Continuing operations | 16 220 | 7 460 | |
| – Discontinued operations | 2 217 | ||
| Non-cash movements: | |||
| – Depreciation and amortisation | 6.1.3 | 2 681 | 2 677 |
| – Impairment charges of non-current operating assets | 8,4 | 21 | |
| – ECLs on financial assets at amortised costs | 6.1.3 | 79 | (57) |
| – Write-off of trade and other receivables and ESD loans | 6.1.3 | 4 | 92 |
| – Movement in provisions | 6.1.3 | 474 | 4 |
| – Movement in retirement employee obligations | 6.1.3 | 9 | 12 |
| – Net currency exchange differences | 32 | (27) | |
| – Fair value adjustments on financial instruments | (51) | (232) | |
| – Gain on termination of lease | (3) | ||
| – Loss on termination of right-of-use asset | 1 | ||
| – Net losses on disposal of property, plant and equipment | 97 | 46 | |
| – Loss on disposal of subsidiaries | 1 | 947 | |
| – Gain on derecognition of financial asset at FVOCI | (175) | ||
| – Net gains on disposal of associates | 6.1.4 | (1 339) | |
| – Loss on dilution of investment in associate | 6.1.3 | 2 | |
| – Indemnification asset movement | (5) | ||
| – Share-based payment expense | 207 | 246 | |
| – Hedge ineffectiveness on cash flow hedges | 13 | 10 | |
| – Translation of net investment in foreign operations | (8) | (3) | |
| – Translation of foreign currency items | (351) | (147) | |
| – Amortisation of transaction costs prepaid | 4 | 5 | |
| – Non-cash recoveries | (194) | 8 | |
| – Net gains on translation differences recycled to profit or loss on deregistration of foreign subsidiaries | 6.1.3 | (482) | |
| – Net gains on translation differences recycled to profit or loss on disposal of investment in foreign associate | 6.1.4 | (876) | |
| – Gain on financial instruments revaluations recycled to profit or loss on disposal of associate | 6.1.4 | (2) | |
| – Other non-cash movements | 5 | 2 | |
| Cash generated by operations before working capital movements | 19 217 | 10 407 | |
| Working capital movements | |||
| – Decrease/(increase) in inventories | 1 | (113) | |
| – (Increase)/decrease in trade and other receivables | (1 312) | 266 | |
| – Increase in trade and other payables | 999 | 40 | |
| – Utilisation of provisions | 13.3 | (42) | (48) |
| Cash generated by operations | 18 863 | 10 552 | |
| 1 | Cash generated from operations before working capital movements for 2021 was re-presented to reconcile to profit before tax instead of net operating profit as previously disclosed. |
| Company | |||
| For the year ended 31 December | Note | 2022 Rm |
2021 Rm |
| Profit before tax | 11 807 | 21 123 | |
|---|---|---|---|
| – Continuing operations | 11 807 | 19 674 | |
| – Discontinued operations | 1 449 | ||
| Adjusted for: | |||
| Items separately disclosed: | |||
| – Finance income | 12.1.2 | (566) | (157) |
| – Finance costs | 12.1.2 | 3 517 | 2 198 |
| – Dividend income from financial assets | (1) | (2) | |
| Non-cash movements: | |||
| – Dividend revenue from subsidiaries | (5 619) | (8 764) | |
| – Depreciation and amortisation | 6.1.3 | 179 | 192 |
| – Impairment charges of investments in associates | 8,4 | 143 | |
| – ECLs on financial assets at amortised costs | 29 | (18) | |
| – Write-off of trade and other receivables and ESD loans | 6.1.3 | 5 | 91 |
| – Movement in provisions | 6.1.3 | 7 | (1) |
| – Net currency exchange differences | 12 | ||
| – Fair value adjustments on financial instruments | (1) | (4) | |
| – Net losses on disposal of property, plant and equipment | 9 | 25 | |
| – Net loss/(gain) on disposal of subsidiaries | 42 | (2) | |
| – Net gains on disposal of associates | 6.1.4 | (1 449) | |
| – Share-based payment expense | 129 | 155 | |
| – Amortisation of transaction costs prepaid | 4 | 5 | |
| Cash generated by operations before working capital movements | 9 696 | 13 392 | |
| Working capital movements | |||
| – (Increase)/decrease in inventories | (1) | 2 | |
| – Decrease in trade and other receivables | 31 | 382 | |
| – Decrease in treasury facilities with subsidiaries at amortised cost (receivable) | 4 275 | 771 | |
| – Increase/(decrease) in trade and other payables | 21 | (13) | |
| – Increase in non-interest-bearing loans from subsidiaries | 9 | 168 | |
| – Increase in treasury facilities with subsidiaries at amortised cost (payable) | 7 724 | 1 815 | |
| Cash generated by operations | 21 755 | 16 517 | |
Report Index