To view the PDF file, sign up for a MySharenet subscription.

ANGLO AMERICAN PLC - Kumba Iron Ore Limited interim results 2015

Release Date: 21/07/2015 08:00
Code(s): AGL     PDF:  
Wrap Text
Kumba Iron Ore Limited interim results 2015

NEWS RELEASE
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")

Anglo American plc notification:
Kumba Iron Ore Limited interim results 2015

Anglo American wishes to draw attention to Kumba Iron Ore Limited’s announcement of its
results for the six months ended 30 June 2015. Kumba Iron Ore Limited reported headline
earnings of R2,519 million.

Anglo American will report underlying earnings in respect of Kumba Iron Ore Limited of
$192 million for the six months ended 30 June 2015, which takes into account certain
adjustments.


                                                                         6 months         6 months          Year
                                                                            ended            ended        ended
$ million                                                                 30.06.15        30.06.14      31.12.14

IFRS headline earnings                                                        213            606        1,011
Kumba Envision Trust(1)                                                        11             10           20
One-off tax charge(1)                                                          68              -             -
Other adjustments                                                              (1)             -           (4)
                                                                              291            616        1,027

Non-controlling interests                                                     (88)         (187)        (309)
Exploration                                                                      4             5           12
Elimination of intercompany interest                                             3           (2)           10
Depreciation of assets fair valued on acquisition                              (4)           (3)          (7)
Corporate cost allocation                                                     (14)          (20)         (40)

Contribution to Anglo American underlying earnings                            192            409          693
(1)
  These items are included in IFRS headline earnings but are excluded from Anglo American underlying earnings as
special items.

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.

21 July 2015
Sponsor: UBS South Africa (Pty) Ltd

Date: 21/07/2015 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.

Share This Story