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Anglo AmericanAnnouncement

06/09/2014 18:34

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RNS Number : 7918M
Anglo American PLC
21 July 2014 
 
                                                                                         
 21 July 2014                                                                          
 Anglo American plc notification:Anglo American Platinum Limited interim results 2014  
                                                                                       
 
 
Anglo American wishes to draw attention to Anglo American Platinum Limited's
announcement of its results for the six months ended 30 June 2014. Anglo
American Platinum Limited reported headline earnings of R157 million. 
 
Anglo American will report an underlying loss in respect of Anglo American
Platinum Limited of $1 million for the six months ended 30 June 2014, which
takes into account certain adjustments. 
 
 $m                                                              6 months ended 30.06.14  6 months ended 30.06.13  Year ended 31.12.13  
                                                                                                                                        
 IFRS headline earnings                                          14                       140                      152                  
 Exploration                                                     2                        1                        2                    
 Operating and financing remeasurements                          (3)                      (5)                      (8)                  
 Restructuring costs included in headline earnings               -                        -                        105                  
 BEE transactions and related charges                            -                        -                        (44)                 
 Tax special item included in headline earnings                  -                        -                        188                  
 Other adjustments                                               3                        (8)                      5                    
                                                                 16                       128                      400                  
                                                                                                                                        
 Non-controlling interests                                       (3)                      (26)                     (80)                 
 Elimination of intercompany interest                            23                       42                       67                   
 Depreciation of assets fair valued on acquisition (net of tax)  (9)                      (19)                     (36)                 
 Corporate cost allocation                                       (28)                     (33)                     (64)                 
                                                                                                                                        
 Contribution to Anglo American underlying earnings              (1)                      92                       287                  
 
 
Anglo American will report results for the six months ended 30 June 2014 on 25
July 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 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. 
 
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