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SOUTH32 LIMITED - Financial results for the year ended 30 June 2019 Short form announcement

Release Date: 22/08/2019 08:30
Code(s): S32     PDF:  
Wrap Text
Financial results for the year ended 30 June 2019
Short form announcement

South32 Limited
(Incorporated in Australia under the Corporations Act 2001)
(ACN 093 732 597)
ASX / LSE / JSE Share Code: S32 ADR: SOUHY
ISIN: AU000000S320
south32.net

22 August 2019

                    FINANCIAL RESULTS FOR THE YEAR ENDED 30 JUNE 2019
                                 Short Form Announcement

South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) (South32) announces its financial results for
the full year ended 30 June 2019.

This statement includes the consolidated results of the South32 Group for the year ended 30 June
2019 compared with the year ended 30 June 2018 on a statutory basis.

Key Financials

                                                             Year ended     Year ended      Change
US$M                                                       30 June 2019   30 June 2018         (%)
Revenue                                                           7,274          7,549        (4%)
Ordinary dividend per share                                         7.9           10.5        (25%)
(US cents)
Special dividend per share                                          1.7            3.0        (43%)
(US cents)

In accordance with the JSE Listing Requirements, Headline Earnings is presented below.

US$M                                                                       FY19               FY18
Profit/(loss) attributable to ordinary equity holders of                     389              1,332
South32 Limited
Adjusted for
Loss/(gain) on disposal of property, plant and equipment                        -               (4)
Gain on disposal of investment                                                  -              (33)
Impairment losses                                                            504                  -
Re-measurements included in (profit)/loss relating to                         (2)                 -
investment property
Total tax benefit on the above items                                         (25)                3
Headline Earnings                                                            866              1,298
Diluted Headline Earnings                                                    866              1,298
Earnings per share denominator (millions)                                  5,048              5,159
                                                    (a)
Diluted earnings per share denominator (millions)                          5,105              5,239
Headline Earnings from continuing operations
Headline Earnings per share (US cents)                                      17.2               25.2
Diluted Headline Earnings per share (US cents)                              17.0               24.8
Headline Earnings
Headline Earnings per share (US cents)                                      17.2                25.2
Diluted Headline Earnings per share (US cents)                              17.0                24.8


(a) Diluted EPS calculation excludes 19,011,659 (30 June 2018: 4,512,861) rights which are
considered anti-dilutive and are subject to service and performance conditions.

2019 Dividend

The Board has resolved to pay a final dividend of US 2.8 cents per share (fully franked) for the year
ended 30 June 2019. The record date for determining entitlements to dividends is 13 September
2019; payment date is 10 October 2019.

Dividends announced                    Dividend per share
Period                                         (US cents)       US$M       Franking     Pay-out ratio
H1 FY18                                                  4.3      223         100%              41%
February 2018 special dividend                           3.0      155          81%               n/a
H2 FY18                                                  6.2      317         100%              40%
H1 FY19                                                  5.1      258         100%              40%
February 2019 special dividend                           1.7       86         100%               n/a
H2 FY19                                                  2.8      140         100%              40%


South32 Limited shareholders registered on the South African branch register will not be able to
dematerialise their shareholdings between 11 and 13 September 2019 (both dates inclusive), nor will
transfers to/from the South African branch register be permitted between 6 and 13 September 2019
(both dates inclusive).

Details of the current exchange rates applicable for the dividend will be announced to the relevant
stock exchanges. Further dividend information is available on our website (www.south32.net).

South32 American Depositary Receipts (ADRs) each represent five fully paid ordinary shares in
South32 and ADR holders will receive dividends accordingly, subject to the terms of the Depositary
Agreement.

Dividends timetable                                                                         Date
Announce currency conversion into rand                                          9 September 2019
Last day to trade cum dividend on the Johannesburg Stock Exchange              10 September 2019
(JSE)
Ex-dividend date on the JSE                                                    11 September 2019
Ex-dividend date on the ASX and London Stock Exchange (LSE)                    12 September 2019
Record date (including currency election date for ASX)                         13 September 2019
Payment date                                                                     10 October 2019
About South32

South32 is a globally diversified mining and metals company. We produce bauxite, alumina,
aluminium, energy and metallurgical coal, manganese, nickel, silver, lead and zinc at our operations
in Australia, Southern Africa and South America. We are also the owner of a high grade zinc, lead
and silver development option in North America and have several partnerships with junior explorers
with a focus on base metals. Our purpose is to make a difference by developing natural resources,
improving people’s lives now and for generations to come, and to be trusted by our owners and
partners to realise the potential of their resources.

Short Form Announcement

This short form announcement is the responsibility of the directors and represents a summary of the
information in the full announcement and does not contain full or complete details. Any investment
decision by investors and/or shareholders should be based on consideration of the full
announcement.

The full announcement has been released on JSE
https://senspdf.jse.co.za/documents/2019/JSE/ISSE/S32/Results19.pdf. It is also accessible on the
Company’s website at www.south32.net. Copies of the full announcement may be requested, at no
charge, by contacting Investor Relations at InvestorRelations@south32.net.


FURTHER INFORMATION


INVESTOR RELATIONS

Alex Volante                       Tom Gallop
T +61 8 9324 9029                  T +61 8 9324 9030
M +61 403 328 408                  M +61 439 353 948
E Alex.Volante@south32.net         E Tom.Gallop@south32.net

MEDIA RELATIONS

James Clothier                     Jenny White
T +61 8 9324 9697                  T +44 20 7798 1773
M +61 413 391 031                  M +44 7900 046 758
E James.Clothier@south32.net       E Jenny.White@south32.net


Further information on South32 can be found at www.south32.net.

JSE Sponsor: UBS South Africa (Pty) Ltd
22 August 2019

Date: 22/08/2019 08:30:00
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