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Kumba Iron Ore Limited interim results 2014
Anglo American plc
Incorporated in the United Kingdom
(Registration number: 3564138)
Short name JSE: Anglo
Share code JSE: AGL
Short name NSX: Anglo-AMRC NM
Share code: NSX: ANM
ISIN number: GB00B1XZS820
(the "Company")
22 July 2014
Anglo American plc notification:
Kumba Iron Ore Limited interim results 2014
Anglo American plc wishes to draw attention to Kumba Iron Ore Limited’s announcement of its
results for the six months ended 30 June 2014. Kumba Iron Ore Limited reported headline
earnings of R6,505 million.
Anglo American plc will report underlying earnings in respect of Kumba Iron Ore Limited of
$409 million for the six months ended 30 June 2014, which takes into account certain
adjustments.
6 months 6 months Year
ended ended ended
$m 30.06.14 30.06.13 31.12.13
IFRS headline earnings 606 840 1,604
Exploration 7 7 14
Kumba Envision Trust(1) 10 11 33
Other adjustments - 4 2
623 862 1,653
Non-controlling interests (189) (261) (501)
Elimination of intercompany interest (2) 6 12
Depreciation of assets fair valued on acquisition (net of tax) (3) (3) (6)
Corporate cost allocation (20) (25) (50)
Contribution to Anglo American underlying earnings 409 579 1,108
(1)
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 2014 on 25 July 2014.
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 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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