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ANGLO AMERICAN PLATINUM LIMITED - Updated Trading Statement for the six months ended 30 June 2019

Release Date: 16/07/2019 08:00
Code(s): AMS     PDF:  
 
Wrap Text
Updated Trading Statement for the six months ended 30 June 2019

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 2019

Anglo American Platinum will release results for the six months ended 30 June 2019 (“the period”) on
the Johannesburg Stock Exchange News Service (“SENS”) on 22 July 2019.

Shareholders are referred to the Company’s trading statement released on SENS on 25 June 2019 in
which the Company advised that headline earnings and headline earnings per share (“HEPS”) for the
period were expected to be at least 80% (R2.690 billion or 1,025 cents per share, respectively) higher
than that reported for the six months ended 30 June 2018 (“the comparative period”) and that basic
earnings and basic earnings per share (“EPS”) for the period were also expected to be at least 180%
(R3.922 billion or 1,496 cents per share, respectively) higher than for the comparative period.

Shareholders are advised that headline earnings for the period is likely to increase to between
R7.005 billion and R7.670 billion, (an increase of between 108% and 128% compared to the
comparative period figure of R3.363 billion). HEPS for the period is likely to increase to between 2,671
cents and 2,924 cents per share (an increase of between 108% and 128% compared to the comparative
period figure of 1,282 cents).

Basic earnings for the period is likely to increase to a profit of between R7.055 billion and R7.485 billion
(an increase of between 224% and 244% compared to the comparative period figure of a R2.179 billion).
EPS for the period is likely to increase to between 2,690 cents and 2,854 cents per share (an increase
of between 224% and 243% compared to the comparative period figure of 831 cents).

The expected increase in headline earnings and basic earnings is due to a higher ZAR PGM basket
price, and a stock count adjustment gain of R1.0 billion in the period compared to a stock count
adjustment loss of R0.5 billion in the comparative period.

In addition, in the comparative period, basic earnings was impacted by an impairment of R0.6 billion
(post-tax) relating to the disposal of the 33% holding in the Bafokeng Rasimone Platinum Mine joint
venture (BRPM JV) to Royal Bafokeng Platinum Limited and a loss of R0.8 billion (post-tax) on the
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 Concentrator Plant (ACP) in
2017. Both basic and headline earnings benefitted from a revaluation gain on the deferred consideration
in respect of the sale of the Rustenburg Mines of R0.3 billion (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 2019

Sponsor
Merrill Lynch South Africa Proprietary Limited

For further information, please contact:

Investors:                                       Media:
Emma Chapman                                     Jana Marais
(SA) +27 (0) 11 373 6239                         (SA) +27 (0) 11 638 2607
emma.chapman@angloamerican.com                   jana.marais@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 leading global mining company 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 that enable a cleaner, more electrified world
and that meet the fast 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 – safely, responsibly and sustainably.

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

www.angloamerican.com

Date: 16/07/2019 08:00:00
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