Exxaro Resources Limited – Group and company annual financial statements 2025


For the year ended 31 December	Note	2025 Rm	2024 Rm
Cash flows from operating activities		11 106	9 158
Cash generated by operations	6.3.1	11 014	9 329
– Dividend revenue received	6.1.2	3 542	4 115
– Interest revenue received		260	386
– Other cash generated by operations		7 212	4 828
Interest received	12.1.6	1 454	1 502
Interest paid	12.1.6	(1 292)	(1 637)
Tax paid	7.6.1	(70)	(36)
Cash flows from investing activities		(1 971)	586
Property, plant and equipment acquired	10.1.3	(26)	(65)
Intangible assets acquired	10.2.3	(22)	(18)
Proceeds from disposal of property, plant and equipment		1
Cash received from other financial assets at amortised cost		141	31
ESD loans granted		(76)	(130)
ESD loans settled		117	84
Proceeds from disposal of subsidiary	8.3	152
Increase in investment in subsidiaries		(157)	(328)
Non-interest-bearing loans to subsidiaries granted		(220)	(125)
Interest-bearing loans to subsidiaries granted		(4 883)
Interest-bearing loans to subsidiaries settled		3 002	1 137
Cash flows from financing activities		(5 757)	(9 625)
Interest-bearing borrowings raised	12.1.3	4 500
Interest-bearing borrowings repaid	12.1.3	(2 950)	(1 093)
Transaction costs paid on interest-bearing borrowings raised	12.1.3	(23)
Lease liabilities paid	11.4	(56)	(47)
Dividends paid	5.6	(5 913)	(8 306)
Shares acquired in the market to settle share-based payments		(95)	(179)
Shares repurchased including transaction expenses		(1 220)

Net increase in cash and cash equivalents		3 378	119
Cash and cash equivalents at beginning of the year		17 300	17 151
Translation difference on movement in cash and cash equivalents		(178)	30
Cash and cash equivalents at end of the year	6.2.5	20 500	17 300

For the year ended 31 December

Note

2025

Rm

2024

Rm

Cash flows from operating activities

11 106

9 158

Cash generated by operations

6.3.1

11 014

9 329

– Dividend revenue received

6.1.2

3 542

4 115

– Interest revenue received

260

386

– Other cash generated by operations

7 212

4 828

Interest received

12.1.6

1 454

1 502

Interest paid

12.1.6

(1 292)

(1 637)

Tax paid

7.6.1

(70)

(36)

Cash flows from investing activities

(1 971)

586

Property, plant and equipment acquired

10.1.3

(26)

(65)

Intangible assets acquired

10.2.3

(22)

(18)

Proceeds from disposal of property, plant and equipment

1

Cash received from other financial assets at amortised cost

141

31

ESD loans granted

(76)

(130)

ESD loans settled

117

84

Proceeds from disposal of subsidiary

8.3

152

Increase in investment in subsidiaries

(157)

(328)

Non-interest-bearing loans to subsidiaries granted

(220)

(125)

Interest-bearing loans to subsidiaries granted

(4 883)

Interest-bearing loans to subsidiaries settled

3 002

1 137

Cash flows from financing activities

(5 757)

(9 625)

Interest-bearing borrowings raised

12.1.3

4 500

Interest-bearing borrowings repaid

12.1.3

(2 950)

(1 093)

Transaction costs paid on interest-bearing borrowings raised

12.1.3

(23)

Lease liabilities paid

11.4

(56)

(47)

Dividends paid

5.6

(5 913)

(8 306)

Shares acquired in the market to settle share-based payments

(95)

(179)

Shares repurchased including transaction expenses

(1 220)

Net increase in cash and cash equivalents

3 378

119

Cash and cash equivalents at beginning of the year

17 300

17 151

Translation difference on movement in cash and cash equivalents

(178)

30

Cash and cash equivalents at end of the year

6.2.5

20 500

17 300

Chapter 4: Financial statements