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Anglo American plc notification: Anglo American Platinum Limited interim results 2017

24 July, 2017

Anglo American wishes to draw attention to Anglo American Platinum Limited’s announcement of its results for the six months ended 30 June 2017. Anglo American Platinum Limited reported headline earnings of R747 million.

Anglo American will report underlying earnings in respect of Anglo American Platinum Limited of $37 million for the six months ended 30 June 2017, which takes into account certain adjustments.

$ million 6 months ended 30.06.17 6 months ended 30.06.16 Year
ended
31.12.16
Anglo American Platinum Headline earnings 56 107(1) 126
Restructuring costs - 14 14
Other adjustments (6) (10) (23)
50 111 117
Impact of Anglo American Platinum restatements(2) - (41) (56)
50 70 61
Non-controlling interests (10) (14) (12)
Exploration 2 2 5
Elimination of intercompany interest 35 38 72
Depreciation of assets fair valued on acquisition (8) (8) (16)
Other adjustments (13) - (5)
Corporate cost allocation (19) (20) (40)
       
Contribution to Anglo American underlying earnings 37 68 65

(1)Restated.
(2)During the year ended 31 December 2016, Anglo American Platinum Limited identified certain computational errors affecting its results reported in prior periods, the impact of which was considered material to Anglo American Platinum Limited but was not material to Anglo American. Consequently, the affected results for the years ended 31 December 2015 and earlier, and for the six months ended 30 June 2016, have been restated in the individual financial statements of Anglo American Platinum Limited but have been corrected in the year ended 31 December 2016 in Anglo American’s financial statements.

Anglo American will report results for the six months ended 30 June 2017 on 27 July 2017.  The above figures are unaudited.

Underlying earnings

Underlying earnings is profit attributable to equity shareholders before special items and remeasurements, and is therefore presented after net finance costs, income tax and non-controlling interests. Special items are those items of financial performance that the Group believes should be separately disclosed to assist in the understanding of the underlying financial performance achieved by the Group.

For further information, please contact:

Media Investors
UK UK
James Wyatt-Tilby Paul Galloway
Email: [email protected] Email: [email protected]
Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968 8718
Marcelo Esquivel Trevor Dyer
Email: [email protected] Email: [email protected]
Tel: +44 (0)20 7968 8891 Tel: +44 (0)20 7968 8992
South Africa Sheena Jethwa
Pranill Ramchander Email: [email protected]
Email: [email protected] Tel: +44 (0)20 7968 8680
Tel: +27 (0)11 638 2592
Ann Farndell
Email: [email protected]
Tel: +27 (0)11 638 2786

Notes to editors:

Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped resources provides the raw materials to meet the growing consumer-driven demands of the world’s developed and maturing economies. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products to our customers around the world.

As a responsible miner - of diamonds (through De Beers), copper, platinum and other precious metals, iron ore, coal and nickel - we are the custodians of what are precious natural resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders and for the communities and countries in which we operate – creating sustainable value and making a real difference.

www.angloamerican.com