Anglo American Platinum Earnings Reconciliation

RNS Number : 4372T

Anglo American PLC

20 July 2015

 



20 July 2015

Anglo American plc notification: Anglo American Platinum Limited interim results 2015

Anglo American wishes to draw attention to Anglo American Platinum Limited's announcement of its results for the six months ended 30 June 2015. Anglo American Platinum Limited reported headline earnings of R2,471 million.

Anglo American will report underlying earnings in respect of Anglo American Platinum Limited of $175 million for the six months ended 30 June 2015, which takes into account certain adjustments.

$ million	6 months ended 30.06.15	6 months ended 30.06.14	Year ended 31.12.14
IFRS headline earnings	206	14	70
Operating and financing remeasurements	(2)	(3)	(16)
Restructuring costs included in headline earnings	11	-	6
Other adjustments	(2)	3	(9)
	213	14	51
Non-controlling interests	(43)	(3)	(10)
Exploration	2	2	6
Elimination of intercompany interest	37	23	49
Depreciation of assets fair valued on acquisition	(12)	(9)	(18)
Corporate cost allocation	(22)	(28)	(53)
Contribution to Anglo American underlying earnings	175	(1)	25

Anglo American will report results for the six months ended 30 June 2015 on 24 July 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.

 

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