Anglo American wishes to draw attention to Anglo American Platinum Limited’s announcement of its results for the year ended 31 December 2013. Anglo American Platinum Limited reported headline earnings of R1,451 million.
Anglo American wishes to draw attention to Anglo American Platinum Limited’s announcement of its results for the year ended 31 December 2013. Anglo American Platinum Limited reported headline earnings of R1,451 million.
Anglo American will report underlying earnings in respect of Anglo American Platinum Limited of US$287 million for the year ended 31 December 2013, which takes into account certain adjustments.
| $m |
Year ended
31.12.13 |
Year ended
31.12.12 |
|---|
| |
|
|
IFRS headline earnings/(loss) |
152 |
(170) |
|---|
Exploration |
2 |
4 |
|---|
Operating and financing remeasurements (net of tax) |
(8) |
2 |
|---|
Restructuring costs included in headline earnings (net of tax) |
105 |
- |
|---|
BEE transactions and related charges |
(44) |
- |
Tax special item included in headline earnings |
188 |
- |
Other adjustments |
5 |
- |
|
400 |
(164) |
|
|
|
Non-controlling interests |
(80) |
33 |
Elimination of intercompany interest |
67 |
10 |
Depreciation of assets fair valued on acquisition (net of tax) |
(36) |
(41) |
Corporate cost allocation |
(64) |
(63) |
|
|
|
Contribution to Anglo American underlying earnings |
287 |
(225) |
Anglo American will report results for the year ended 31 December 2013 on 14 February 2014. The above figures are unaudited.
Underlying earnings
Underlying earnings is net profit attributable to equity shareholders, adjusted to remove special items and remeasurements, and any related tax and non-controlling interests. Special items are those items of financial performance that the Group believes should be excluded from underlying financial performance. Operating special items include impairment charges and reversals and other exceptional items, including restructuring costs. Non-operating special items include profits and losses on disposals of investments and businesses as well as certain adjustments relating to business combinations. Remeasurements include adjustments to ensure that the unrealised gains or losses on non-hedge derivative instruments are recorded in underlying earnings in the same period as the underlying transaction against which these instruments provide an economic, but not formally designated, hedge as well as foreign exchange impact arising in US dollar functional currency entities on deferred tax balances.