Anglo American plc notification: Anglo American Platinum Limited interim results 2013
22 July, 2013
Anglo American wishes to draw attention to Anglo American Platinum Limited’s announcement of its results for the six months ended 30 June 2013. Anglo American Platinum Limited reported headline earnings of R1,341 million.
Anglo American will report underlying earnings in respect of Anglo American Platinum Limited of US$92 million for the six months ended 30 June 2013, which takes into account certain adjustments.
| $m | 6 months ended 30.06.13 |
6 months ended 30.06.12 |
Year ended 31.12.12 |
|---|---|---|---|
| IFRS headline earnings/(loss) | 140 | 83 | (170) |
| Exploration | 1 | 2 | 4 |
| Operating and financing remeasurements (net of tax) | (5) | 13 | 2 |
| Other adjustments | (8) | (3) | – |
| 128 | 95 | (164) | |
| Non-controlling interests | (26) | (19) | 33 |
| Elimination of intercompany interest | 42 | 3 | 10 |
| Depreciation of assets fair valued on acquisition (net of tax) | (19) | (25) | (41) |
| Corporate cost allocation | (33) | (33) | (63) |
| Contribution to Anglo American underlying earnings | 92 | 21 | (225) |
Anglo American will report results for the six months ended 30 June 2013 on 26 July 2013. 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 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.