Declared Dividend • Jul 30
First half dividend of R7.90 announced Shareholders will receive a dividend of R7.90. Ex-date: 19th August 2026 Payment date: 24th August 2026 Dividend yield will be 65%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (69% cash payout ratio). The dividend has increased over the past 9 years. However, payments have been volatile during that time. EPS is expected to decline by 14% over the next 3 years. However, it would need to fall by 29% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Jul 28
First half 2026 earnings released: EPS: R12.95 (vs R22.17 in 1H 2025) First half 2026 results: EPS: R12.95 (down from R22.17 in 1H 2025). Revenue: R30.9b (down 11% from 1H 2025). Net income: R4.15b (down 42% from 1H 2025). Profit margin: 13% (down from 21% in 1H 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 4.7% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 17% per year. Duyuru • Jul 21
Kumba Iron Ore Limited Provides Earnings Guidance for the Six Months Ended 30 June 2026 Kumba Iron Ore Limited provided earnings guidance for the six months ended 30 June 2026. For the period, the company announced that basic earnings for the period are expected to be between ZAR 3,975 million and ZAR 4,265 million, reflecting a decrease of between 40% and 44% from the comparative period. Basic earnings per share (EPS) are expected to be between ZAR 12.41 and ZAR 13.31, a decrease of between 40% and 44% from the comparative period. Reported basic earnings and EPS for the comparative period were ZAR 7,112 million and ZAR 22.17, respectively. Board Change • Jun 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Vuyisa Nkonyeni was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • May 26
Kumba Iron Ore Limited Approves Appointment to Social, Ethics and Transformation Committee Kumba Iron Ore Limited at its Annual General Meeting held on May 26, 2026 approved: To elect Mrs. Mary Sina Bomela as a member of the Social, Ethics and Transformation Committee; To elect Mr. Mark Ashley Goliath as a member of the Social, Ethics and Transformation Committee; To elect Mr. Terence Philip Goodlace as a member of the Social, Ethics and Transformation Committee; To elect Mrs. Nomalizo (Ntombi) Beryl Langa-Royds as a member of the Social, Ethics and Transformation Committee; To elect Mr. Xolani Frederick Mbambo as a member of the Committee; To elect Ms Neo Violet Mokhesi as a member of the Social, Ethics and Transformation Committee; To elect Ms Nompumelelo (Mpumi) Dessederia Zikalala as a member of the Social, Ethics and Transformation Committee. Duyuru • Apr 11
Kumba Iron Ore Limited, Annual General Meeting, May 26, 2026 Kumba Iron Ore Limited, Annual General Meeting, May 26, 2026. Location: kumba iron ore corporate office, imbizo auditorium, 144 oxford road, rosebank, South Africa Duyuru • Mar 20
Kumba Iron Ore Limited to Report First Half, 2026 Results on Jul 28, 2026 Kumba Iron Ore Limited announced that they will report first half, 2026 results on Jul 28, 2026 Duyuru • Dec 14
Kumba Iron Ore Limited to Report Fiscal Year 2025 Results on Feb 19, 2026 Kumba Iron Ore Limited announced that they will report fiscal year 2025 results on Feb 19, 2026 Duyuru • Jun 25
Kumba Iron Ore Limited Announces Appointment of Mark Goliath as A Non-Executive Director of the Board, Member of the Social, Ethics and Transformation Committee and the Strategy and Investment Committee, Effect from 1 July 2025 Kumba Iron Ore Limited announced Mr. Mark Goliath has been appointed as a non-executive director of the Board with effect from 1 July 2025, representing the Industrial Development Corporation ("IDC"). He will also serve as a member of the Social, Ethics and Transformation Committee and the Strategy and Investment Committee with effect from 1 July 2025. Mark is currently the Acting Divisional Executive: Manufacturing at the IDC and has more than 15 years of corporate finance and 13 years of manufacturing operations experience. He is accountable for leading a team which develops and implements industrial development investments across the manufacturing sectors focusing on South Africa and Sub-Saharan Africa. The sectors include chemicals, industrial minerals beneficiation, pharmaceuticals, oil and gas, machinery and equipment including yellow goods, automotive and rail value chains, wood and paper value chains and textile and clothing value chain. Mark holds an MBA from the University of Witwatersrand, a BCom (Honours) Finance from the University of the Western Cape and a National Diploma in Chemical Engineering from the Cape Technikon. Duyuru • Jun 19
Kumba Iron Ore Limited Announces Board Changes Kumba Iron Ore has announced that Themba Mkhwanazi will step down as a non-executive director of the board and Anglo American's representative effective 30 June 2025. Mkhwanazi has been an integral figure on the Kumba board and a member of both the Human Resources and Remuneration Committee and the Strategy and Investment Committee for the past eight years. The announcement comes as Kumba also heralds the appointment of Ruben Fernandes as a new non-executive director of the board, effective from 1 July 2025. Fernandes, currently the chief operating officer of Anglo American, will not only take Mkhwanazi's seat at the board table but will also participate as a member of the Social, Ethics and Transformation Committee, the Safety, Health and Sustainable Development Committee, and the Strategy and Investment Committee.Fernandes has been with the Anglo American group since 2012 and has held various senior executive roles demonstrating a strong track record in the mining sector. Most recently, he served as the regional director – Americas as of 2023 after previously directing Anglo American’s base metals businesses. His extensive experience in the industry is further highlighted by prior roles, including leadership positions at Votorantim Metals in Brazil, and chief operations officer at Vale Fertilizers. A metallurgical engineer by training, Fernandes earned his degree from the Federal University of Minas Gerais and furthered his education with an MBA from the University of São Paulo (USP) and Ibmec. | Siphelele DludlaHe has also broadened his academic prowess with specialisations from prestigious institutions such as Harvard, MIT, and IMD in Switzerland. As Anglo American positions itself for future growth and sustainability, the incoming leadership changes reflect the company’s commitment to fostering experienced and skilled governance at the highest level, paving the way for innovative strategies and resilient operational practices.Terence Goodlace, chairperson of Kumba, expressed his gratitude toward Mkhwanazi for his dedication. Duyuru • Apr 11
Kumba Iron Ore Limited, Annual General Meeting, Jun 04, 2025 Kumba Iron Ore Limited, Annual General Meeting, Jun 04, 2025. Location: kumba iron ore corporate office, imbizo auditorium, 144 oxford road, rosebank, johannesburg South Africa Duyuru • Mar 31
Kumba Iron Ore Ltd. Announces Resignation of Josephine Tsele as Non-Executive Director, Member of the Social, Ethics and Transformation Committee, the Safety, Health and Sustainable Development Committee and the Strategy and Investment Committee Effective from 15 May 2025 Kumba Iron Ore Limited announced the resignation of Ms Josephine Tsele as non-executive director with effect from 15 May 2025. Ms Tsele was appointed to the Board of directors of Kumba as a shareholder representative of the Industrial Development Corporation (IDC) on 1 May 2021 and during her tenure she served as a member of the Social, Ethics and Transformation Committee, the Safety, Health and Sustainable Development Committee and the Strategy and Investment Committee. She will also be stepping down as a member of these committees with effect from 15 May 2025. Duyuru • Feb 18
Kumba Iron Ore Limited Declares Final Cash Dividend for the Year Ended 31 December 2024, Payable on 17 March 2025 On 17 February 2025, the directors of Kumba Iron Ore Limited approved a gross final cash dividend of 1,990 cents per share on the ordinary shares from profits accrued during the year ended 31 December 2024. The dividend has been declared from income reserves. The dividend will be subject to a dividend withholding tax of 20% for all shareholders who are not exempt from or do not qualify for a reduced rate of withholding tax. The net dividend payable to shareholders, subject to withholding tax at a rate of 20%, amounts to 1,592 cents per share. Dividend payment date is 17 March 2025. Record date is 14 March 2025. Trading ex-dividend commences is 12 March 2025. Duyuru • Feb 14
Kumba Iron Ore Limited Announces Changes to the Composition of Board Committees, with Effect from 1 May 2025 Kumba Iron Ore Limited in compliance with paragraph 3.59 of the JSE Limited Listings Requirements; the Board announced the following changes to the composition of its Board committees with effect from 1 May 2025: Mrs. Mary Bomela, who was appointed as interim Chairperson of the Social, Ethics and Transformation Committee ("SetCo") on 1 January 2024, will step down as Chairperson of the SetCo. She will continue to serve as a member of the SetCo. Ms Neo Mokhesi be appointed as the Chairperson of the SetCo. Mr. Terence Goodlace will step down as the Chairperson of the Safety, Health and Sustainable Development Committee and will continue to be a member of the SHSD. Mr. Aman Jeawon be appointed as the Chairperson of the SHSD. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €20.20, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Metals and Mining industry in Europe. Total loss to shareholders of 1.1% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €27.32 per share. Upcoming Dividend • Aug 09
Upcoming dividend of R18.77 per share Eligible shareholders must have bought the stock before 14 August 2024. Payment date: 19 August 2024. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 11%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (4.3%). Reported Earnings • Jul 25
First half 2024 earnings released: EPS: R22.27 (vs R30.04 in 1H 2023) First half 2024 results: EPS: R22.27 (down from R30.04 in 1H 2023). Revenue: R35.8b (down 6.5% from 1H 2023). Net income: R7.15b (down 26% from 1H 2023). Profit margin: 20% (down from 25% in 1H 2023). Revenue is expected to decline by 4.5% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to grow by 1.9%. Declared Dividend • Jul 25
First half dividend of R18.77 announced Shareholders will receive a dividend of R18.77. Ex-date: 14th August 2024 Payment date: 19th August 2024 Dividend yield will be 100%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is covered by both earnings (68% earnings payout ratio) and cash flows (65% cash payout ratio). The dividend has increased by an average of 1.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 23% over the next 3 years. A fall of 24% would increase the payout ratio to a potentially unsustainable range, which means the dividend may be at risk. Duyuru • Jul 23
Kumba Iron Ore Limited Approves Interim Cash Dividend for the Period Ended June 30, 2024, Payable on August 19, 2024 Kumba Iron Ore Limited announced that at the Board meeting held on July 22 2024, the directors approved a gross interim cash dividend of 1,877.00 cents per share on the ordinary shares from profits accrued during the period ended June 30, 2024. This comprises a gross base dividend of 1,670.00 cents per share and a gross top-up dividend of 207.00 cents per share. The dividend has been declared from income reserves. Trading ex-dividend commences on August 14, 2024. Record date is August 16, 2024. Dividend payment date is August 19, 2024. The dividend will be subject to a dividend withholding tax of 20% for all shareholders who are not exempt from or do not qualify for a reduced rate of withholding tax. The net dividend payable to shareholders after withholding tax at a rate of 20% amounts to 1,501.60 cents per share, comprising a net base dividend of 1,336.00 cents per share and a net top-up dividend of 165.60 cents per share. Duyuru • Jul 04
Kumba Iron Ore Limited Appoints Neo Violet Mokhesi as Independent Non-Executive Director and Member of the Audit Committee, Social, Ethics and Transformation Committee and Safety, Health and Sustainable Development Committee Kumba Iron Ore Limited announced that Ms. Neo Violet Mokhesi has been appointed as an independent non-executive director with effect from 1 July 2024. She will also serve as a member of the Audit Committee, the Social, Ethics and Transformation Committee and the Safety, Health and Sustainable Development Committee with effect from 1 July 2024. Neo holds a BCom from the National University of Lesotho. She serves on the boards of Barloworld Limited, WDB Investment Holdings, Nozala Trust and Mozal SA. Buy Or Sell Opportunity • May 24
Now 24% undervalued The stock has been flat over the last 90 days, currently trading at €25.80. The fair value is estimated to be €33.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Earnings per share has declined by 25%. For the next 3 years, revenue is forecast to decline by 4.0% per annum. Earnings are also forecast to decline by 11% per annum over the same time period. Duyuru • Apr 23
Kumba Iron Ore Limited Provides Production and Sales Guidance for the Full Fiscal Year 2024 Kumba Iron Ore Limited provided production and sales guidance for the full fiscal year 2024. For the year, the company expects to report total production of 35 Mt - 37 Mt. For the year, the company expects to report total sales of 36 Mt - 38 Mt. New Risk • Apr 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 12% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.9% average weekly change). Duyuru • Apr 12
Kumba Iron Ore Limited, Annual General Meeting, May 28, 2024 Kumba Iron Ore Limited, Annual General Meeting, May 28, 2024, at 10:00 South Africa Standard Time. Location: Anglo American Kumba offices in the Imbizo Auditorium, 144 Oxford Road, Rosebank Johannesburg South Africa Duyuru • Mar 21
Kumba Iron Ore Limited Appoints Mr. Matthew Walker as Non-Executive Director, Effective April 1, 2024 Kumba Iron Ore Limited announced that Mr. Matthew (Matt) Walker has been appointed as a non-executive director with effect from 1 April 2024, representing the Anglo American Group. Matt joined the Anglo American Executive Leadership Team when he was appointed as the CEO of Anglo American's Marketing business on 1 December 2023. He joined Anglo American's finance team in 2007 and has served as Group Head of Corporate Finance and Group Treasurer. He has also held a number of senior finance and other roles across the business, including as chief financial officer of the copper business in Chile. Matt holds a BSc (Hons) Economics and Economics History from the University of Warwick and is a Chartered Accountant and a member of The Institute of Chartered Accountants of Scotland. He will also serve as a member of the Strategy and Investment Committee and a member of the Human Resources and Remuneration Committee with effect from 1 April 2024. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €22.00, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 8x in the Metals and Mining industry in Europe. Total returns to shareholders of 13% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €33.13 per share. Upcoming Dividend • Mar 06
Upcoming dividend of R24.20 per share Eligible shareholders must have bought the stock before 13 March 2024. Payment date: 18 March 2024. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 8.9%. Within top quartile of German dividend payers (5.2%). Higher than average of industry peers (4.4%). Buy Or Sell Opportunity • Feb 22
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to €25.60. The fair value is estimated to be €32.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Earnings per share has declined by 25%. For the next 3 years, revenue is forecast to decline by 5.0% per annum. Earnings are also forecast to decline by 17% per annum over the same time period. Duyuru • Feb 21
Kumba Iron Ore Limited Approves Gross Final Cash Dividend for the Year Ended 31 December 2023, Payable on 18 March 2024 Kumba Iron Ore Limited at its board meeting on 19 February 2024, the directors approved a gross final cash dividend of 2,420 cents per share on the ordinary shares from profits accrued during the year ended 31 December 2023.The dividend will be subject to a dividend withholding tax of 20% for all shareholders who are not exempt from or do not qualify for a reduced rate of withholding tax. The net dividend payable to shareholders, subject to withholding tax at a rate of 20%, amounts to 1,936 cents per share. The issued share capital at the declaration date is 322,085,974 ordinary shares. Trading ex-dividend commences on 13 March 2024 and record date is on 15 March 2024. The dividend payment date is on 18 March 2024. Duyuru • Nov 11
Kumba Iron Ore Limited Announces Board Changes Kumba Iron Ore Limited announced that Ms Buyelwa Sonjica will retire as an independent non-executive director on 31 December 2023 after having served on the Kumba Board for just over 11 years. During her tenure she served as the chairperson of the Social, Ethics and Transformation Committee, member of the Safety, Health and Sustainable Development Committee and the Nominations and Governance Committee. The Board has commenced the process to identify and appoint an independent non-executive director to replace Ms Sonjica. Mrs. Mary Bomela will be appointed as a member of the Social, Ethics and Transformation Committee and will assume the role of interim Chairperson of the Committee. Duyuru • Oct 25
Kumba Iron Ore Limited Provides Production and Sales Guidance for the Full Year 2023 Kumba Iron Ore Limited provided production and sales guidance for the full year 2023. for the year, the company expected total production of 35 Mt - 37 Mt and total sales of 36 Mt - 38 Mt. Duyuru • Oct 01
Sarah Kuijlaars Steps Down as Non-Executive Director, Member of Both the Strategy and Investment Committee and the Social, Ethics and Transformation Committee of Kumba Iron Ore Limited, Effective 1 October 2023 Inchcape plc announced that Sarah Kuijlaars, Non-Executive Director, will step down as Non-Executive Director and as a member of both the Strategy and Investment Committee and the Social, Ethics and Transformation Committee of Kumba Iron Ore Limited with effect from 1 October 2023. Valuation Update With 7 Day Price Move • Sep 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €22.80, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Metals and Mining industry in Europe. Total returns to shareholders of 15% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €29.55 per share. Buying Opportunity • Sep 06
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be €26.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.7% over the last 3 years. Earnings per share has declined by 13%. For the next 3 years, revenue is forecast to grow by 3.7% per annum. Earnings is also forecast to grow by 4.7% per annum over the same time period. Buying Opportunity • Aug 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.4%. The fair value is estimated to be €26.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.7% over the last 3 years. Earnings per share has declined by 13%. For the next 3 years, revenue is forecast to grow by 3.9% per annum. Earnings is also forecast to grow by 4.5% per annum over the same time period. Upcoming Dividend • Aug 09
Upcoming dividend of R22.60 per share at 8.8% yield Eligible shareholders must have bought the stock before 16 August 2023. Payment date: 21 August 2023. Payout ratio and cash payout ratio are on the higher end at 96% and 90% respectively. Trailing yield: 8.8%. Within top quartile of German dividend payers (4.8%). In line with average of industry peers (8.4%). Reported Earnings • Jul 26
First half 2023 earnings released: EPS: R30.04 (vs R36.01 in 1H 2022) First half 2023 results: EPS: R30.04 (down from R36.01 in 1H 2022). Revenue: R38.3b (down 11% from 1H 2022). Net income: R9.64b (down 17% from 1H 2022). Profit margin: 25% (down from 27% in 1H 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 1.0% decline forecast for the Metals and Mining industry in Europe. Duyuru • Jul 25
Kumba Iron Ore Limited Announces Interim Cash Dividend for the Period Ended 30 June 2023, Payable on 21 August 2023 Kumba Iron Ore Limited announced that at the Board meeting held on 24 July 2023, the directors approved a gross interim cash dividend of 2,260 cents per share on the ordinary shares from profits accrued during the period ended 30 June 2023. Trading ex-dividend commences on 16 August 2023. Record date is 18 August 2023. Dividend payment date is 21 August 2023. Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €23.00, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Metals and Mining industry in Europe. Total loss to shareholders of 14% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €24.59 per share. New Risk • Jun 22
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 20% Last year net profit margin: 33% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (96% payout ratio). Share price has been volatile over the past 3 months (8.0% average weekly change). Profit margins are more than 30% lower than last year (20% net profit margin). Duyuru • Jun 21
Kumba Iron Ore Limited Appoints Mary Bomela as Lead Independent Non-Executive Director, Effective from 1 July 2023 Kumba Iron Ore Limited announced the appointment of Mary Bomela as Lead Independent Non-Executive Director with effect from 1 July 2023. Mary joined the Kumba Board as an Independent Non-Executive Director on 1 December 2017. New Risk • Jun 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 3.5% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.5% average weekly change). Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €23.80, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Metals and Mining industry in Europe. Total loss to shareholders of 23% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €21.64 per share. Duyuru • May 23
Kumba Iron Ore Limited Announces Changes to Board Committees The Board of Kumba Iron Ore Limited announced the following changes to the composition of its Board committees: Mr. Aman Jeawon be appointed as a member of the Strategy and Investment Committee with effect from 19 May 2023; and Mrs. Sarah Kuijlaars be appointed as a member of the Strategy and Investment Committee and the Social, Ethics and Transformation Committee with effect from 31 May 2023. Recent Insider Transactions • May 05
CFO & Executive Director recently sold €75k worth of stock On the 26th of April, Bothwell Mazarura sold around 4k shares on-market at roughly €21.26 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €386k. Bothwell has been a net seller over the last 12 months, reducing personal holdings by €337k. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €20.60, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Metals and Mining industry in Europe. Total loss to shareholders of 37% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €15.13 per share. Upcoming Dividend • Mar 09
Upcoming dividend of R16.30 per share at 6.8% yield Eligible shareholders must have bought the stock before 15 March 2023. Payment date: 20 March 2023. Payout ratio and cash payout ratio are on the higher end at 96% and 99% respectively. Trailing yield: 6.8%. Within top quartile of German dividend payers (4.8%). Lower than average of industry peers (8.2%). Recent Insider Transactions • Mar 06
Non Executive Director recently sold €386k worth of stock On the 1st of March, Themba Mkhwanazi sold around 15k shares on-market at roughly €25.23 per share. This transaction amounted to 63% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €649k more than they bought in the last 12 months. Reported Earnings • Feb 22
Full year 2022 earnings released: EPS: R46.64 (vs R104 in FY 2021) Full year 2022 results: EPS: R46.64 (down from R104 in FY 2021). Revenue: R74.0b (down 28% from FY 2021). Net income: R15.0b (down 55% from FY 2021). Profit margin: 20% (down from 33% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 1.7% decline forecast for the Metals and Mining industry in Europe. Buying Opportunity • Feb 16
Now 20% undervalued Over the last 90 days, the stock is up 4.7%. The fair value is estimated to be €33.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 25%. For the next 3 years, revenue is forecast to grow by 6.1% per annum. Earnings is also forecast to grow by 9.9% per annum over the same time period. Buying Opportunity • Dec 31
Now 20% undervalued Over the last 90 days, the stock is up 25%. The fair value is estimated to be €33.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 25%. For the next 3 years, revenue is forecast to decline by 0.8% per annum. Earnings is also forecast to decline by 9.8% per annum over the same time period. Buying Opportunity • Dec 16
Now 23% undervalued Over the last 90 days, the stock is up 19%. The fair value is estimated to be €33.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 25%. For the next 3 years, revenue is forecast to decline by 0.4% per annum. Earnings is also forecast to decline by 9.8% per annum over the same time period. Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment improved over the past week After last week's 15% share price gain to €22.00, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 5x in the Metals and Mining industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €35.72 per share. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improved over the past week After last week's 19% share price gain to €24.60, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 5x in the Metals and Mining industry in Europe. Duyuru • Aug 30
Kumba Iron Ore Limited to Report Fiscal Year 2022 Results on Feb 23, 2023 Kumba Iron Ore Limited announced that they will report fiscal year 2022 results on Feb 23, 2023 Duyuru • Aug 29
Kumba Iron Ore Limited to Report Q2, 2023 Results on Jul 27, 2023 Kumba Iron Ore Limited announced that they will report Q2, 2023 results on Jul 27, 2023 Upcoming Dividend • Aug 10
Upcoming dividend of R28.70 per share Eligible shareholders must have bought the stock before 17 August 2022. Payment date: 22 August 2022. Payout ratio is on the higher end at 89%, and the cash payout ratio is above 100%. Trailing yield: 13%. Within top quartile of German dividend payers (4.5%). Higher than average of industry peers (9.5%). Reported Earnings • Aug 01
First half 2022 earnings released: EPS: R36.01 (vs R72.82 in 1H 2021) First half 2022 results: EPS: R36.01 (down from R72.82 in 1H 2021). Revenue: R43.0b (down 32% from 1H 2021). Net income: R11.6b (down 51% from 1H 2021). Profit margin: 27% (down from 37% in 1H 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 3.1%, compared to a 25% growth forecast for the industry in Germany. Duyuru • Jul 25
Kumba Iron Ore Limited to Report First Half, 2022 Results on Jul 26, 2022 Kumba Iron Ore Limited announced that they will report first half, 2022 results on Jul 26, 2022 Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improved over the past week After last week's 17% share price gain to €35.00, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 6x in the Metals and Mining industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €31.02 per share. Buying Opportunity • Mar 16
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be R44.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% per annum over the last 3 years. Earnings per share has grown by 40% per annum over the last 3 years. Upcoming Dividend • Mar 09
Upcoming dividend of R30.50 per share Eligible shareholders must have bought the stock before 16 March 2022. Payment date: 22 March 2022. Payout ratio and cash payout ratio are on the higher end at 100% and 83% respectively. Trailing yield: 17%. Within top quartile of German dividend payers (3.6%). Higher than average of industry peers (9.2%). Recent Insider Transactions • Mar 05
Non Executive Director recently sold €356k worth of stock On the 1st of March, Themba Mkhwanazi sold around 10k shares on-market at roughly €35.69 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €452k more than they bought in the last 12 months. Reported Earnings • Feb 24
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: R104 (up from R71.03 in FY 2020). Revenue: R102.1b (up 27% from FY 2020). Net income: R33.3b (up 46% from FY 2020). Profit margin: 33% (up from 28% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.4%. Over the next year, revenue is expected to shrink by 12% compared to a 13% growth forecast for the mining industry in Germany. Duyuru • Feb 24
Kumba Iron Ore Limited Provides Production Guidance for the Year 2022, 2023 and 2024 Kumba Iron Ore Limited provided production guidance for the year 2022, 2023 and 2024. This outlook is reflected in production and sales guidance for 2022 of between 39 million and 41 million tonnes to ensure that the company maintain a balanced value chain. For 2023, the company have kept the production guidance the same due to the tie-in of the UHDMS plant. In preparation for this, the company are also maintaining a higher stock buffer at mines this year. The company expects to complete the final handover of the UHDMS plant in the first half of 2024. And in line with this, the company have increased production guidance to between 41 million and 43 million tonnes for 2024. Duyuru • Feb 22
Kumba Iron Ore Limited Changes to the Composition of Board Committees Kumba Iron Ore Limited announced the following changes to the composition of its Board committees with effect from 18 February 2022: Ms Nompumelelo ("Mpumi") Zikalala be appointed as a member of the Strategy Investment Committee and the Social, Ethics and Transformation Committee. Mr. Themba Mkhwanazi will step down as a member of the Social, Ethics and Transformation Committee and be appointed as a member of the Human Resources and Remuneration Committee. 
