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    TGA   ZAE000296554

THUNGELA RESOURCES LIMITED

(TGA)
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Thungela Resources 1st Half Revenue, Profit Rose; Confirms Full-Year Outlook

08/13/2021 | 03:13am EDT

By Joe Hoppe

Thungela Resources Ltd. said Friday that its first-half operating profit, revenue and earnings all rose, and it reaffirmed full-year guidance.

The coal export business--a spinoff of Anglo American PLC--said its operating profit rose to 990 million rand ($67 million) from ZAR52 million a year prior.

On an adjusted basis, earnings before interest, taxes, depreciation and amortization rose to ZAR1.89 billion from ZAR247 million. Revenue rose to ZAR10.05 billion from ZAR1.66 billion a year before.

The company said it has a robust financial position with ZAR3.14 billion in cash, supported by strong cash generation, and confirmed its full-year production and cost-per-export-metric-ton outlook.

Capital expenditure for the full year is now expected to be on the low end of the previously provided range of ZAR2.6 billion to ZAR3.0 billion. Thungela said its strong balance sheet, coupled with likely positive adjusted operating free cash flow for the rest of 2021, has paved the way for it to consider a maiden dividend.

"The steps we have taken to upgrade our portfolio and our continued focus on improving productivity and operating costs, will no doubt stand us in good stead into the future," Chief Executive July Ndlovu said.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

08-13-21 0312ET

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More news
Financials
Sales 2021 26 380 M 1 799 M 1 799 M
Net income 2021 4 517 M 308 M 308 M
Net cash 2021 4 941 M 337 M 337 M
P/E ratio 2021 3,07x
Yield 2021 10,4%
Capitalization 11 464 M 781 M 782 M
EV / Sales 2021 0,25x
EV / Sales 2022 0,09x
Nbr of Employees -
Free-Float 91,1%
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Technical analysis trends THUNGELA RESOURCES LIMITED
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 4
Last Close Price 84,10 ZAR
Average target price 107,50 ZAR
Spread / Average Target 27,8%
EPS Revisions
Managers and Directors
July Ndlovu Chief Executive Officer & Director
Gideon Frederick Smith Chief Financial Officer & Director
Sango Siviwe Ntsaluba Non-Executive Chairman
Leslie Martin Executive Head-Technical
Johannes Petrus Daniel Van Schalkwyk Chief Operating Officer