Wrap Text
Summarised Preliminary Financial Results for the Year ended 31 December 2024 and Notice of Dividend
Anglo American plc
Registered office: 17 Charterhouse Street, London EC1N 6RA
Registered number: 3564138 (incorporated in England and Wales)
Legal Entity Identifier: 549300S9XF92D1X8ME43
ISIN: GBOOB1XZS820
JSE Share Code: AGL
NSX Share Code: ANM
(the "Company")
20 February 2025
Summarised Preliminary Financial Results for the Year ended 31 December 2024 and Notice of Dividend
Strong operational and cost performance – portfolio simplification and growth progress well on track
• Sale of steelmaking coal and nickel businesses agreed - to generate up to $5.3 billion in gross cash proceeds
• Underlying EBITDA* of $8.5 billion – EBITDA margin* stable at 30%, despite 10% lower prices and challenging
rough diamond trading conditions, supported by flat unit costs and other major cost efficiencies
• $1.3 billion run rate cost savings achieved in 2024, ahead of schedule
• Focus on cash conversion* delivers sustaining attributable free cash flow* of $1.7 billion, (2023: $0.1 billion)
• Loss attributable to equity shareholders of $3.1 billion – recognising net impairments of $3.8 billion
• Net debt* flat at $10.6 billion – at 1.3x EBITDA, prior to receipt of further divestment proceeds during 2025
• $0.8 billion total dividends for FY 2024, equal to $0.64 per share, consistent with our 40% payout policy
• Basic headline earnings per share of $0.72 compared to $2.06 in the prior comparative period
Duncan Wanblad, Chief Executive of Anglo American, said: "We are fast transforming Anglo American into a far higher
margin and more valuable mining company focused on exceptional copper, premium iron ore and crop nutrients assets
and significant growth optionality. 2024 saw us transform our performance, with strong operational and cost delivery,
$1.3 billion of costs removed on a run rate basis in 2024 with a further $0.5 billion to come by the end of 2025, and major
progress with our portfolio simplification.
"Safety is our number one value and first priority, and we continue to make progress towards our goal of zero harm,
recording our lowest-ever injury rate in 2024. However, I am sorry to report the loss of three colleagues in the year
following two accidents underground in South Africa. We extend our heartfelt condolences to their families, friends and
colleagues. We are unconditional in our commitment to safety and working to ensure that every colleague returns home
safely each day.
"Group underlying EBITDA of $8.5 billion reflects 10% lower prices and unit costs held flat, demonstrating our focus on
operational stability and cost discipline to keep our EBITDA margin stable at 30% (2023: 31%). Far stronger cash conversion
enabled us to maintain net debt flat at $10.6 billion, equal to 1.3x underlying EBITDA.
"We are making excellent progress with our portfolio simplification. We have agreed the sale of our steelmaking coal
business for up to $4.8 billion in gross cash proceeds and have this week agreed the sale of our nickel business for cash
consideration of up to $500 million. The demerger of Anglo American Platinum (AAP) is expected in June and we intend
to retain a 19.9% interest in AAP to help manage flowback post demerger and which we expect to exit responsibly over
time. All of the above will deliver a step-change in our balance sheet flexibility.
"The work to separate De Beers is well under way, with action taken to strengthen cash flow in the near term and position
De Beers for long-term success and value realisation. Given prevailing diamond market conditions, we have reduced our
carrying value of De Beers by $2.9 billion.
"In terms of growth, we are progressing our considerable pipeline of high quality options across our portfolio. This is well-
sequenced and largely brownfield growth that makes best use of our proven technical and sustainability capabilities, our
project delivery track record and our reputation as a responsible mining company.
"We have moved at pace to set up Anglo American as a highly attractive and differentiated value proposition for the long
term, offering strong cash generation to support sustainable shareholder returns and the capabilities and longstanding
relationship networks to deliver our full value and growth potential."
Year ended 31 December 2024 31 December 2023 Change
US$ million, unless otherwise stated
Revenue 27,290 30,652 (11)%
Underlying EBITDA* 8,460 9,958 (15)%
EBITDA margin* 30% 31%
Attributable free cash flow* 474 (1,385) n/a
(Loss)/Profit attributable to equity shareholders of the Company (3,068) 283 n/a
Basic underlying earnings per share* ($) 1.60 2.42 (34)%
Basic (loss)/earnings per share ($) (2.53) 0.23 n/a
Final dividend per share ($) 0.22 0.41 (46)%
Interim dividend per share ($) 0.42 0.55 (24)%
Total dividend per share ($) 0.64 0.96 (33)%
Group attributable ROCE* 12% 16%
ANGLO AMERICAN plc
(Incorporated in England and Wales – Registered number 03564138)
Notice of Dividend
(Dividend No. 46)
Notice is hereby given that a final dividend on the Company's ordinary share capital in respect of the year to 31 December 2024 will be paid as
follows:
Amount (United States currency) (note 1) 22 cents per ordinary share
Amount (South Africa currency) (note 2) 403.89360 cents per ordinary share
Amount (Botswana currency) (note 3) 303.44820 thebes per ordinary share
Last day to effect transfer of shares between the United Kingdom (UK) and branch share registers Monday, 10 March 2025
Last day to trade on the JSE Limited (JSE) to qualify for dividend Tuesday, 11 March 2025
Ex-dividend on the JSE from the commencement of trading (note 4) Wednesday, 12 March 2025
Ex-dividend on the Botswana Stock Exchange (BSE) from the commencement of trading Wednesday, 12 March 2025
Ex-dividend on the London Stock Exchange from the commencement of trading Thursday, 13 March 2025
Record date (applicable to both the principal register and branch registers) Friday, 14 March 2025
Movement of shares between the principal and branch registers permissible from Monday, 17 March 2025
Last day for receipt of Dividend Reinvestment Plan (DRIP) mandate forms by Central Securities Friday, 11 April 2025
Depository Participants (CSDPs) (notes 5, 6 and 7)
Last day for receipt of US$:£/€ currency elections by the UK Registrars (note 1) Friday, 11 April 2025
Last day for receipt of DRIP mandate forms by the UK Registrars (notes 5, 6 and 7) Friday, 11 April 2025
Last day for receipt of DRIP mandate forms by the South African Transfer Secretaries (notes 5, 6 Tuesday, 15 April 2025
and 7)
Currency conversion US$:£/€ rates announced on (note 8) Tuesday, 22 April 2025
Payment date of dividend Wednesday, 07 May 2025
Results of Dividend Reinvestment Plan released Thursday, 22 May 2025
Notes
1. Shareholders on the UK register of members with an address in the UK will be paid in Sterling and those with an address in a country in the European Union which has adopted the Euro
will be paid in Euros. Such shareholders may, however, elect to be paid their dividends in US dollars provided the UK Registrars receive such election by Friday, 11 April 2025.
Shareholders with an address elsewhere will be paid in US dollars except those registered on the South African branch register who will be paid in South African rand and those
registered on the Botswanan branch register who will be paid in Botswanan Pula.
2. Dividend Tax will be withheld from the amount of the gross dividend of 403.89360 Rand cents per ordinary share paid to South African shareholders at the rate of 20% unless a
shareholder qualifies for exemption. After the Dividend Tax has been withheld, the net dividend will be 323.11488 Rand cents per ordinary share. Anglo American plc had a total of
1,337,577,913 ordinary shares in issue as at Wednesday, 19 February 2025. In South Africa the dividend will be distributed by Anglo American South Africa Proprietary Limited, a South
African company with tax registration number 9030010608, or one of its South African subsidiaries, in accordance with the Company's dividend access share arrangements. The dividend
in South African rand is based on an exchange rate of USD1:ZAR18.35880 taken on Wednesday, 19 February 2025, being the currency conversion date.
3. The dividend in Botswanan Pula is based on an exchange rate of USD1:BWP13.79310 taken on Wednesday, 19 February 2025, being t he currency conversion date.
4. Dematerialisation and rematerialisation of registered share certificates in South Africa will not be effected by CSDPs during the period from the JSE ex-dividend date to the record date
(both days inclusive).
5. Those shareholders who already participate in the DRIP need not complete a DRIP mandate form for each dividend as such forms provide an ongoing authority to participate in the DRIP
until cancelled in writing. Shareholders who wish to participate in the DRIP should obtain a mandate form from the UK Registrars, the South African Transfer Secretaries or, in the case of
those who hold their shares through the STRATE system, their CSDP.
6. In terms of the DRIP, and subject to the purchase of shares in the open market, share certificates/CREST notifications are expected to be mailed and CSDP investor accounts
credited/updated on or around Wednesday, 21 May 2025. CREST accounts will be credited on Monday, 12 May 2025.
7. Copies of the terms and conditions of the DRIP provided by Equiniti Financial Services Limited are available from the UK Registrars at www.shareview.co.uk/info/drip or the South African
Transfer Secretaries for the South African Branch Register DRIP.
8. The US$:£/€ conversion rates will be determined by the actual rates achieved by Anglo American buying forward contracts for those currencies, during the three days preceding the
announcement of the conversion rates, for delivery on the dividend payment date.
Registered office UK Registrars South African Transfer Secretaries Transfer Secretaries in Botswana
17 Charterhouse Street EQ (formerly Equiniti) Computershare Investor Services (Pty) Limited Central Securities in Depository Botswana (PTY)
London Aspect House Rosebank Towers, 15 Biermann Avenue LTD
EC1N 6RA Spencer Road Rosebank, 2196, South Africa Plot 70667, Fairscape, Precinct,
United Kingdom Lancing Private Bag X9000 Fargrounds, Gaborone, Botswana
West Sussex Saxonwold, 2132 Private Bag 00417, Gaborone
BN99 6DA South Africa Botswana
United Kingdom
Basis of preparation
The Condensed financial statements for the year ended 31 December 2024 do not constitute statutory accounts
as defined in section 435 (1) and (2) of the Companies Act 2006. The results for the year to 31 December 2024 have been
extracted from the 31 December 2024 audited Consolidated Financial Statements which have been approved by the Board
of Directors. Statutory accounts for the year ended 31 December 2023 have been delivered to the Registrar of Companies
and those for 2024 will be delivered following the Company's Annual General Meeting convened for 30 April 2025. The
auditors have reported on these accounts; their reports were unqualified, did not include a reference to any matters to
which the auditors drew attention by way of emphasis of matter and did not contain a statement under section 498 (2) or
(3) of the Companies Act 2006.
Whilst the preliminary financial results (the Condensed financial statements) has been prepared in accordance with UK-
adopted International Accounting Standards, with those parts of the Companies Act 2006 applicable to companies
reporting under those standards and the requirements of the Listing Rules of the Financial Conduct Authority in the United
Kingdom, these Condensed financial statements do not contain sufficient information to comply with UK-adopted
International Accounting Standards. The Group will publish full financial statements that comply with UK-adopted
International Accounting Standards in March 2025.
Results announcement
This results announcement is the responsibility of the directors of Anglo American plc and is a summary of the
information in the Condensed financial statements available on
https://senspdf.jse.co.za/documents/2025/JSE/ISSE/ANAAL/FY2024.pdf and on the group's website
https://www.angloamerican.com/investors/financial-results-centre
This announcement does not contain full details and any investment decision in relation to the Company's shares should
be based on the Condensed financial statements.
The Condensed financial statements is available on the Company's website
(https://www.angloamerican.com/investors/financial-results-centre) and the office of the Sponsor during standard
office hours.
The financial data disclosed above relates to Anglo American and/or its shares.
The Company has a primary listing on the Main Market of the London Stock Exchange and secondary listings on the
Johannesburg Stock Exchange, the Botswana Stock Exchange, the Namibia Stock Exchange and the SIX Swiss Exchange.
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Cnr Fredman Drive and Rivonia Road, Sandton, 2196
20 February 2025
Date: 20-02-2025 09:00:00
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