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Kumba Iron Ore 2020 Profit Rises

Kumba Iron Ore reported EBITDA of 45.8 billion Rand for the year ended 31 December, 2020, an increase of 37% from prior year driven by strong revenue growth, despite lower sales volumes. EBITDA margin rose to 57% from 52%.

For the full year, total revenue increased by 25% to 80.1 billion Rand. The company reported production of 37.0 Mt and sales of 39.7 Mt.

For 2021, the company anticipates production and sales of between 40.0 Mt and 41.0 Mt.

The Board decided to declare a final cash dividend of 41.30 Rand per share. Combined with the interim cash dividend, the total cash dividend for the year increased by 30% to 60.90 Rand per share.

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