COMPANY RESULTS: Thungela 2024 performance showcases operational excellence.
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GUEST – July Ndluvu – CEO of Thungela Resources
Thungela Resources gained the most in more than five months on Monday, after the group announced an increase in revenue and a R300m share buyback programme.
Full year export saleable production exceeded guidance in both South Africa and Australia. South African production increased for the first time in three years, driven by productivity improvements and improved rail performance. Our key life extension projects, Elders and Zibulo North Shaft remain on schedule and within budget.
The Group revenue saw a 16% year-on-year increase, reaching R35.6 billion, despite weaker prices. This increase can be attributed to Ensham’s full-year inclusion in 2024, compared to the four months period post-acquisition in the previous year (September 2023 to December 2023).
Adjusted EBITDA of R6.3 billion and a net profit at R3.5 billion were achieved, with a R676 million contribution from Ensham. The margin contribution from our operation in Australia and the marketing business in Dubai showcase the benefits of our geographic diversification strategy.
Thungela Resources gained the most in more than five months on Monday, after the group announced an increase in revenue and a R300m share buyback programme.
Full year export saleable production exceeded guidance in both South Africa and Australia. South African production increased for the first time in three years, driven by productivity improvements and improved rail performance. Our key life extension projects, Elders and Zibulo North Shaft remain on schedule and within budget.
The Group revenue saw a 16% year-on-year increase, reaching R35.6 billion, despite weaker prices. This increase can be attributed to Ensham’s full-year inclusion in 2024, compared to the four months period post-acquisition in the previous year (September 2023 to December 2023).
Adjusted EBITDA of R6.3 billion and a net profit at R3.5 billion were achieved, with a R676 million contribution from Ensham. The margin contribution from our operation in Australia and the marketing business in Dubai showcase the benefits of our geographic diversification strategy.