Anglo American plc notification: Anglo American Platinum Limited interim results 2016
25 July, 2016
Anglo American wishes to draw attention to Anglo American Platinum Limited’s announcement of its results for the six months ended 30 June 2016. Anglo American Platinum Limited reported headline earnings of R1,044 million.
Anglo American will report underlying earnings in respect of Anglo American Platinum Limited of $68 million for the six months ended 30 June 2016, which takes into account certain adjustments.
| $ million | 6 months ended 30.06.16 |
6 months ended 30.06.15 |
Year ended 31.12.15 |
|---|---|---|---|
| Headline earnings | 66 | 206 | 38 |
| Impairment of loans to Plateau Resources Proprietary Limited(1) and Atlatsa Holdings Proprietary Limited | - | - | 119 |
| Financing remeasurements | (3) | (2) | (2) |
| Restructuring costs | 14 | 11 | 55 |
| Other adjustments | (7) | (2) | (1) |
| 70 | 213 | 209 | |
| Non-controlling interests | (14) | (43) | (42) |
| Exploration | 2 | 2 | 6 |
| Elimination of intercompany interest | 38 | 37 | 67 |
| Depreciation of assets fair valued on acquisition | (8) | (12) | (22) |
| Corporate cost allocation | (20) | (22) | (50) |
| Contribution to Anglo American underlying earnings | 68 | 175 | 168 |
(1)A wholly owned subsidiary of Atlatsa Resources Corporation.
Anglo American will report results for the six months ended 30 June 2016 on 28 July 2016. 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.
Special items that relate to the operating performance of the Group are classified as operating special items and principally include impairment charges and restructuring costs. Remeasurements include unrealised gains and losses on financial assets and liabilities.