REG - Anglo American PLC - Kumba Earnings Reconciliation <Origin Href="QuoteRef">AAL.L</Origin>

Anglo AmericanAnnouncement

10/02/2015 07:00

RNS Number : 4600E
Anglo American PLC
10 February 2015
10 February 2015
Anglo American plc notification:
Kumba Iron Ore Limited year end results 2014
Anglo American wishes to draw attention to Kumba Iron Ore Limited's announcement of its results for the year ended 31 December 2014. Kumba Iron Ore Limited reported headline earnings of R11,006 million.
Anglo American will report underlying earnings in respect of Kumba Iron Ore Limited of$693 million for the year ended 31 December 2014, which takes into account certain adjustments.


$ million

Year ended 31.12.14
Year ended 31.12.13
IFRS headline earnings
1,011
1,604
Kumba Envision Trust
20
33
Other adjustments
(4)
2
1,027
1,639
Non-controlling interests
(309)
(497)
Exploration
12
10
Elimination of intercompany interest
10
12
Depreciation of assets fair valued on acquisition
(7)
(6)
Corporate cost allocation
(40)
(50)
Contribution to Anglo American underlying earnings
693
1,108
 The Kumba Envision Trust charge is included in IFRS headline earnings but is a special item so is excluded from Anglo American underlying earnings.
Anglo American will report results for the year ended 31 December 2014 on 13 February 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 and remeasurements 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.

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