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Financial results centre

2016 PRELIMINARY RESULTS

We have announced our annual results for 2016. You can listen to or view the presentation to the London Stock Exchange using the details found on this page.

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VIDEO: Mark Cutifani and René Médori provide financial summaries

READ THE PRESS RELEASE VIEW THE PRESENTATION View the webcast

PLAYBACK details

Replay passcode: 9924767

UK Freephone: 0800 358 7735

South Africa: 11 019 7025

International Freephone: 1866 932 5017

General enquiries

Sheena Jethwa

sheena.jethwa@angloamerican.com

+44 (0) 20 7968 8680

RESULT HIGHLIGHTS: 2016 PRELIMINARY RESULTS

Net debt reduced to $8.5 billion, driven by $2.6 billion attributable free cash flow and asset disposals

Net debt reduced by 34% to $8.5 billion (2015: $12.9 billion), well below the $10 billion target:

  • Attributable free cash flow of $2.6 billion (2015: $(1.0) billion)
  • Capital expenditure reduced by 37% to $2.5 billion
  • Disposal proceeds of $1.8 billion received

Cost and volume improvements of $1.5 billion, net of headwinds, including:

  • Production volumes (Cu eq.) increased by 2%
  • Unit costs (Cu eq.) decreased by 9% in US dollar terms

Group underlying EBITDA increased by 25% to $6.1 billion, despite a 3% decrease in average prices

Profit for the financial year attributable to equity shareholders of $1.6 billion (2015: $(5.6) billion)

Portfolio upgrading to continue – focus on high quality long life assets

Moranbah, Grosvenor and nickel assets retained – no further disposals planned for deleveraging

2017 priorities:

  • Additional $1 billion of net cost and volume improvements
  • Targeting return to investment grade credit rating
  • Resume dividend payments for the end of 2017

Click here for the full press release.

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Preliminary results
Interim results
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