Anglo American plc notification: Anglo Platinum Limited year end results 2010
07 February, 2011
Anglo American wishes to draw attention to Anglo Platinum Limited’s announcement of its results for the year ended 31 December 2010.
Anglo American will report underlying earnings in respect of Anglo Platinum Limited of US$425 million for the year ended 31 December 2010, which takes into account certain adjustments.
$m |
|
|---|---|
| IFRS headline earnings (US dollar equivalent of published) | 674 |
| Exploration | 11 |
| Operating and financing remeasurements (net of tax) | (21) |
| Restructuring costs included in headline earnings (net of tax) | 28 |
| Other adjustments | (1) |
| 691 | |
| Non-controlling interests | (140) |
| Elimination of inter-company interest | 29 |
| Depreciation of assets fair valued on acquisition (net of tax) | (102) |
| Corporate allocation | (53) |
| Contribution to Anglo American plc underlying earnings | 425 |
Anglo American will report results for the year ended 31 December 2010 on 18 February 2011. The above figures are unaudited.
Underlying Earnings
Underlying Earnings is net profit attributable to equity shareholders, adjusted to remove the effect of 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 transactions relating to business combinations. 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 impact arising in US dollar functional currency entities on deferred tax balances.