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ANGLO AMERICAN PLC - Kumba Iron Ore Limited interim results and earnings reconcilliation

Release Date: 23/07/2013 08:00
Code(s): AGL     PDF:  
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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

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