HEPS dropped -27% to 2,559 cents, exceeding Bloomberg’s 2492.7 cents estimate reflecting strong operational results despite softer coal prices | Revenue rose 16% to R35.6 bn, driven by a full year of Ensham (vs. four months in 2023) | Export saleable production in South Africa hit 13.6 Mt, surpassing guidance of 11.5 to 12.5 Mt by 8.8% to 18.3%, and grew 11% year-on-year | Adjusted EBITDA fell -26% to R6.3 bn | The dividend per share fell -35% to R1,300, plus a R300 million buyback | South Africa’s FOB cost per export tonne (ex-royalties) was R1,130, below guidance of R1,170.
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