ANGLO AMERICAN PLATINUM LIMITED - Updated Trading Statement for the six months ended 30 June 2018

Release Date: 16/07/2018 08:00
Code(s): AMS
 
Wrap Text
Updated Trading Statement for the six months ended 30 June 2018

ANGLO AMERICAN PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1946/022452/06)
Share Code: AMS
ISIN: ZAE000013181
("Anglo American Platinum" or “the Company")

Updated Trading Statement for the six months ended 30 June 2018

Anglo American Platinum will release results for the six months ended 30 June 2018 (“the period”) on
the Stock Exchange News Service (“SENS”) on 23 July 2018.

Shareholders are referred to the Company’s trading statement released on SENS on 29 June 2018 in
which the Company advised that headline earnings and headline earnings per share (“HEPS”) for the
period were expected to be at least 20% (R150 million or 57 cents per share, respectively) higher than
for the comparative reporting period for the six months ended 30 June 2017 (“comparative period”) and
that basic earnings and basic earnings per share (“EPS”) for the period were also expected to be at
least 20% (R238 million or 91 cents per share, respectively) higher than for the comparative period.

Shareholders are advised that headline earnings and HEPS for the period are likely to increase to
between R3.275 billion and R3.415 billion (compared to the comparative period figure of R747 million),
and to between 1,249 cents and 1,302 cents per share (compared to the comparative period figure of
285 cents) respectively.

Basic earnings and EPS for the period are likely to increase to a profit of between R2.040 billion and
R2.270 billion (compared to the comparative period figure of a loss of R1.187 billion) and to a profit of
between 778 cents and 866 cents per share (compared to the comparative period figure of a loss of
453 cents) respectively.

The expected increase in headline earnings and basic earnings is due to improved operational
performance of the Company and improvement in the rand basket price for the period.

In addition, in the comparative period, the Company had attributable post tax-impairments totalling
R2.2 billion impacting basic earnings of which R283 million impacted both basic and headline earnings.
The impairments that impacted basic earnings only included Union mine of R911 million, equity interests
in BRPM of R952 million and Bokoni Platinum Holdings of R45 million. The impairments that impacted
basic and headline earnings include the write down of a term loan to Atlatsa and a loan to the Bakgatla
Ba-Kgafela Community related to their interest in Union.

Basic earnings in the current period are impacted by an impairment of R0.6 billion (post-tax) relating to
the disposal of the 33% holding in the BRPM JV to Royal Bafokeng Platinum Limited and a loss of
R0.8 billion (post-tax) on finalisation of the disposal of Union Mine and Masa Chrome, while benefiting
from an insurance receipt of R0.2 billion (post-tax) in respect of property damage suffered at the
Convertor Plant (ACP) in 2017. Both basic and headline earnings benefit from a revaluation gain on the
deferred consideration in respect of the sale of the Rustenburg Mines of R0.3bn (post tax).

The financial information on which this trading statement is based has not been reviewed or reported
on by the Company’s external auditors.

Johannesburg, South Africa

16 July 2018
Sponsor:
Merrill Lynch South Africa Proprietary Limited

For further information, please contact:
Investors:                                       Media:
Emma Chapman                                     Mpumi Sithole
(SA) +27 (0) 11 373 6239                         (SA) +27 (0) 11 373 6246
emma.chapman@angloamerican.com                   mpumi.sithole@angloamerican.com


Notes to editors:

Anglo American Platinum Limited is a member of the Anglo American plc Group and is the world’s
leading primary producer of platinum group metals. The company is listed on the Johannesburg
Securities Exchange (JSE). Its mining, smelting and refining operations are based in South Africa.
Elsewhere in the world, the Group owns Unki Platinum Mine in Zimbabwe. Anglo American Platinum
has a number of joint ventures with several historically disadvantaged South African consortia as part
of its commitment to the transformation of the mining industry. Anglo American Platinum is committed
to the highest standards of safety and continues to make a meaningful and sustainable difference in
the development of the communities around its operations.

www.angloamericanplatinum.com

Anglo American is a global diversified mining business and our products are the essential ingredients
in almost every aspect of modern life. Our portfolio of world-class competitive mining operations and
undeveloped resources provides the metals and minerals to meet the growing consumer-driven
demands of the world’s developed and maturing economies. With our people at the heart of our
business, we use innovative practices and the latest technologies to discover new resources and mine,
process, move and market our products to our customers around the world.

As a responsible miner – of diamonds (through De Beers), copper, platinum and other precious metals,
iron ore, coal and nickel – we are the custodians of what are precious natural resources. We work
together with our key partners and stakeholders to unlock the sustainable value that those resources
represent for our shareholders, the communities and countries in which we operate and for society at
large. Anglo American is re-imagining mining to improve people’s lives.

www.angloamerican.com

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