Anglo American Platinum Limited year end results 2014
09 February, 2015
Anglo American plc notification: Anglo American Platinum Limited year end results 2014
Anglo American wishes to draw attention to Anglo American Platinum Limited’s announcement of its results for the year ended 31 December 2014. Anglo American Platinum Limited reported headline earnings of R786 million.
Anglo American will report underlying earnings in respect of Anglo American Platinum Limited of $25 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 |
70 |
152 |
Operating and financing remeasurements |
(16) |
(8) |
Restructuring costs included in headline earnings |
6 |
105 |
BEE transactions and related charges |
- |
(44) |
Tax special item included in headline earnings |
- |
188 |
Other adjustments |
(9) |
5 |
|
51 |
398 |
Non-controlling interests |
(10) |
(80) |
| Exploration | 6 |
2 |
| Elimination of intercompany interest | 49 |
67 |
Depreciation of assets fair valued on acquisition |
(18) |
(36) |
Corporate cost allocation |
(53) |
(64) |
Contribution to Anglo American underlying earnings |
25 |
287 |
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 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.
Operating special items principally include impairment charges and restructuring costs. Non-operating special items include costs in relation to closure of operations, 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 financial assets and liabilities are recorded in underlying earnings in the same year as the underlying transaction for which the instruments provide the economic hedge.