Kumba Iron Ore Limited interim results and earnings reconcilliation
Anglo American plc (“the Company”)
Incorporated in the United Kingdom
(Registration number: 3564138)
Short name: Anglo
Share code: AGL
ISIN number: GB00B1XZS820
23 July 2013
Anglo American plc notification:
Kumba Iron Ore Limited interim results 2013
Anglo American plc wishes to draw attention to Kumba Iron Ore Limited’s announcement of its
results for the six months ended 30 June 2013. Kumba Iron Ore Limited reported headline
earnings of R7,748 million.
Anglo American plc will report underlying earnings in respect of Kumba Iron Ore Limited of
$579 million for the six months ended 30 June 2013, which takes into account certain
adjustments.
6 months 6 months Year
ended ended ended
$m 30.06.13 30.06.12 31.12.12
restated(1) restated(1)
IFRS headline earnings 840 965 1,534
Exploration 7 4 16
Kumba Envision Trust(2) 11 20 53
Other adjustments 4 1 3
862 990 1,606
Non-controlling interests (261) (316) (513)
Elimination of intercompany interest 6 (8) 4
Depreciation of assets fair valued on acquisition (net of tax) (3) (4) (8)
Corporate cost allocation (25) (27) (49)
Contribution to Anglo American underlying earnings 579 635 1,040
(1) Headline and Underlying earnings have been restated to reflect the adoption of new accounting pronouncements.
(2) The Kumba Envision Trust charge is included in IFRS headline earnings but is a non-operating special item so is
excluded from Anglo American underlying earnings.
Anglo American plc 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.
Sponsor: UBS South Africa (Pty) Ltd
Date: 23/07/2013 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.