Anglo American plc notification: Kumba Iron Ore Limited results 2009
18 February, 2010
Anglo American wishes to draw attention to Kumba Iron Ore Limited’s announcement of its results for the year ended 31 December 2009.
Anglo American will report underlying earnings in respect of Kumba Iron Ore Limited of $490 million for the year ended 31 December 2009, which takes into account certain adjustments.
| $m | |
|---|---|
| IFRS headline earnings (US dollar equivalent of published) | 845 |
| Exploration | 3 |
| Other adjustments | (2) |
| 846 | |
| Minority interest | (314) |
| Elimination of intercompany interest | (10) |
| Depreciation of assets fair valued on acquisition (net of tax) | (7) |
| Corporate cost allocation | (39) |
| Other adjustments | 14 |
| Contribution to Anglo American plc underlying earnings | 490 |
Anglo American will report results for the year ended 31 December 2009 on 19 February 2010. The above figures are unaudited.
Underlying Earnings
Underlying Earnings is net profit attributable to equity shareholders, adjusted for the effect of special items and remeasurements, and any related tax and minority interests. Special items include those items of financial performance which the Group believes should be excluded from underlying financial performance, and principally relate to impairment and significant closure costs, exceptional legal provisions and profit or loss on disposals. Remeasurements include adjustments to ensure that the unrealised gains or losses on non-hedge 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 impacts arising on certain deferred tax balances.