Thungela Resources Income Statement

Financials in millions ZAR. Fiscal year is January - December.

Millions ZAR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	29,599	35,554	30,634	50,753	26,282
Revenue Growth (YoY)	-16.75%	16.06%	-39.64%	93.11%	600.85%
Cost of Revenue	14,596	17,082	11,853	12,570	7,859
Gross Profit	15,003	18,472	18,781	38,183	18,423
Selling, General & Admin	12,759	11,849	10,203	9,058	8,176
Amortization of Goodwill & Intangibles	84	29	25	28	29
Other Operating Expenses	541	385	307	308	300
Operating Expenses	16,390	14,790	12,142	10,668	9,685
Operating Income	-1,387	3,682	6,639	27,515	8,738
Interest Expense	-1,088	-1,157	-1,024	-738	-680
Interest & Investment Income	1,818	1,393	1,394	963	503
Currency Exchange Gain (Loss)	1,682	887	592	659	391
Other Non Operating Income (Expenses)	117	-103	-185	-3,554	-221
EBT Excluding Unusual Items	1,142	4,702	7,416	24,845	8,731
Merger & Restructuring Charges	-401	-13	-505	-29	-422
Gain (Loss) on Sale of Assets	48	587	-8	-17	8
Asset Writedown	-8,785	-278	-266	-656	-808
Other Unusual Items	-	-	565	-	-
Pretax Income	-7,996	4,998	7,202	24,143	7,509
Income Tax Expense	-889	1,454	2,232	5,938	571
Earnings From Continuing Operations	-7,107	3,544	4,970	18,205	6,938
Minority Interest in Earnings	22	48	192	-1,217	-509
Net Income	-7,085	3,592	5,162	16,988	6,429
Net Income to Common	-7,085	3,592	5,162	16,988	6,429
Net Income Growth	-	-30.41%	-69.61%	164.24%	-
Shares Outstanding (Basic)	130	134	137	134	105
Shares Outstanding (Diluted)	130	136	140	136	106
Shares Change (YoY)	-4.62%	-2.77%	2.76%	28.81%	70.05%
EPS (Basic)	-54.64	26.76	37.66	127.08	61.08
EPS (Diluted)	-54.64	26.42	36.92	124.87	60.87
EPS Growth	-	-28.44%	-70.43%	105.14%	-
Free Cash Flow	-683	1,956	5,387	17,861	3,804
Free Cash Flow Per Share	-5.27	14.39	38.53	131.29	36.02
Dividend Per Share	4.000	13.000	20.000	100.000	18.000
Dividend Growth	-69.23%	-35.00%	-80.00%	455.56%	-
Gross Margin	50.69%	51.95%	61.31%	75.23%	70.10%
Operating Margin	-4.69%	10.36%	21.67%	54.21%	33.25%
Profit Margin	-23.94%	10.10%	16.85%	33.47%	24.46%
Free Cash Flow Margin	-2.31%	5.50%	17.59%	35.19%	14.47%
EBITDA	1,481	6,077	8,181	28,697	9,748
EBITDA Margin	5.00%	17.09%	26.71%	56.54%	37.09%
D&A For EBITDA	2,868	2,395	1,542	1,182	1,010
EBIT	-1,387	3,682	6,639	27,515	8,738
EBIT Margin	-4.69%	10.36%	21.67%	54.21%	33.25%
Effective Tax Rate	-	29.09%	30.99%	24.59%	7.60%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.