Chapter 5: Earnings

5.3 Reconciliation of headline earnings

		Group

For the year ended 31 December 2025	Note	Gross Rm	Tax Rm	NCI Rm	Net Rm
Profit attributable to owners of the parent					7 564
Adjusted for:		261	(47)	(50)	164
– IFRS 10 Gain on disposal of subsidiary	8.3	(32)	31		(1)
– IAS 16 Net losses on disposal of property, plant and equipment	6.1.3	243	(65)	(41)	137
– IAS 28 Share of equity-accounted investments separately identifiable remeasurements		50	(13)	(9)	28

Headline earnings					7 728

		Group

For the year ended 31 December 2024	Note	Gross Rm	Tax Rm	NCI Rm	Net Rm
Profit attributable to owners of the parent					7 724
Adjusted for:		(756)	203	127	(426)
– IAS 16 Net losses on disposal of property, plant and equipment	6.1.3	27	(7)	(5)	15
– IAS 38 Losses on disposal of intangible assets	6.1.3	16	(4)	(3)	9
– IAS 28 Share of equity-accounted investments separately identifiable remeasurements1		(799)	214	135	(450)

Headline earnings					7 298

1 Includes Exxaro’s share of SIOC’s impairment reversal recognised on mining assets, amounting to R458 million (net of tax and NCI). The impairment reversal was due to a life of mine extension based on revisions to the forecast production volume profile.