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Anglo AmericanAnnouncement

25/07/2015 09:40

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RNS Number : 5411T
Anglo American PLC
21 July 2015 
 
                                                                                
 21 July 2015                                                                 
 Anglo American plc notification:Kumba Iron Ore Limited interim results 2015  
                                                                              
 
 
Anglo American wishes to draw attention to Kumba Iron Ore Limited's
announcement of its results for the six months ended 30 June 2015. Kumba Iron
Ore Limited reported headline earnings of R2,519 million. 
 
Anglo American will report underlying earnings in respect of Kumba Iron Ore
Limited of $192 million for the six months ended 30 June 2015, which takes
into account certain adjustments. 
 
                                                                                                                          
 $ million                                           6 months ended30.06.15  6 months ended30.06.14  Year ended 31.12.14       
                                                                                                                               
 IFRS headline earnings                              213                     606                     1,011                     
 Kumba Envision Trust(1)                             11                      10                      20                        
 One-off tax charge(1)                               68                      -                       -                         
 Other adjustments                                   (1)                     -                       (4)                       
                                                     291                     616                     1,027                     
                                                                                                                               
 Non-controlling interests                           (88)                    (187)                   (309)                     
 Exploration                                         4                       5                       12                        
 Elimination of intercompany interest                3                       (2)                     10                        
 Depreciation of assets fair valued on acquisition   (4)                     (3)                     (7)                       
 Corporate cost allocation                           (14)                    (20)                    (40)                      
                                                                                                                               
 Contribution to Anglo American underlying earnings                          192                     409                  693    
                                                                                                                                         
 
 
(1) These items are included in IFRS headline earnings but are excluded from
Anglo American underlying earnings as special items. 
 
  
 
Anglo American will report results for the six months ended 30 June 2015 on 24
July 2015.  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. 
 
Operating special items principally include impairment charges and
restructuring costs. Non-operating special items include costs in relation to
closure of operations, 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 financial assets and liabilities are recorded in underlying earnings
in the same year as the underlying transaction for which the instruments
provide the economic hedge. 
 
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