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Summarised preliminary audited financial results for the year ended 31 December 2019 and notice of dividend
ANGLO AMERICAN PLC (THE "COMPANY")
REGISTERED OFFICE: 20 CARLTON HOUSE TERRACE, LONDON SW1Y 5AN
REGISTERED NUMBER: 3564138 (INCORPORATED IN ENGLAND AND WALES)
LEGAL ENTITY IDENTIFIER: 549300S9XF92D1X8ME43
ISIN: GBOOB1XZS820
JSE SHARE CODE: AGL
NSX SHARE CODE: ANM
Summarised Preliminary Audited Financial Results for the Year ended 31 December 2019 and Notice of Dividend
20 February 2020
Anglo American Preliminary Results 2019
Continuing delivery underpins 9% increase in underlying EBITDA to $10.0 billion
Mark Cutifani, Chief Executive of Anglo American, said: "We continue building on the fundamental structural
and operational improvements we have embedded across our business. The result is founded on high quality, low
cost, world class assets. We have also benefited from product and market diversification, with strong precious
metals and iron ore prices offsetting weakness in diamonds and coal, generating a 9% increase in underlying
EBITDA to $10.0 billion, a 19% ROCE and a Total Shareholder Return of 31% for the year.
"We continue to invest in high quality, value-adding growth projects across the business, including in copper,
diamonds and metallurgical coal, which will drive our volume, margin and cash flow growth over the medium and
longer term. Combined with our share buyback of $0.8 billion during the second half of the year, net debt at year
end was less than 0.5x EBITDA and we continue to maintain a strong balance sheet through the cycle.
"The safety of our people is always front of mind. It is tragic that we continue to experience serious safety incidents,
in which four of our employees died at managed operations in 2019. And while 2019 was our best safety
performance in our history, our progress strengthens our determination to deliver on our commitment to zero harm.
Across the business, we recorded another all-time low injury frequency rate, representing a 17% improvement
compared to 2018 and a 59% improvement over the last six years.
"At the heart of our operational performance is the improving stability and predictability provided by our Operating
Model. We are also starting to see considerable further efficiency and productivity benefits through our P101
programme to deliver additional value from our equipment, our key processes, and our FutureSmart Mining(TM)
approach to technology, digitalisation and sustainability. Compared to 2012, our productivity has more than
doubled and unit costs have decreased by 29% (nominal basis), driving a 12 point increase in Mining EBITDA
margin to 42%.
"Underlying cost and volume benefits were $0.4 billion - adjusted to $0.1 billion on a net basis to reflect external
factors, including the drought in Chile and Eskom power disruptions in South Africa. Since 2012, we have delivered
$4.7 billion of annual underlying EBITDA improvement and have the plans in place to add $3-4 billion of annual
underlying EBITDA improvement by 2022, relative to 2017.
"Consistent delivery of underlying improvements continues to enhance Anglo American's competitive position. We
have transformed our operations and delivered significant financial uplift, while building our broad sustainability
performance. Guided by our Purpose, we are continuing to reposition our business responsibly for a cleaner,
greener, more sustainable world."
Financial highlights - year ended 31 December 2019
- Generated underlying EBITDA* of $10.0 billion, a 9% increase, and $2.3 billion of attributable free cash flow*
- Delivered profit attributable to equity shareholders of $3.5 billion, in line with prior year
- Net debt* increased to $4.6 billion, equal to less than 0.5x underlying EBITDA, due to investment in growth opportunities
- Proposed final dividend of $0.47 per share, consistent with our 40% payout policy
- Basic headline earnings per share of $2.74 compared to $2.04 in the comparative period
- Previously announced share buyback of up to $1 billion: $0.8 billion completed by year end
Year ended 31 December 2019 31 December 2018 Change
US$ million, unless otherwise stated
Revenue 29,870 27,610 8 %
Underlying EBITDA* 10,006 9,161 9 %
Mining EBITDA margin* 42 % 42 %
Attributable free cash flow* 2,324 3,157 (26)%
Profit attributable to equity shareholders of the Company 3,547 3,549 0 %
Underlying earnings per share* ($) 2.75 2.55 8 %
Earnings per share ($) 2.81 2.80 0 %
Dividend per share ($) 1.09 1.00
Group attributable ROCE* 19 % 19 %
Terms with this symbol * are defined as Alternative Performance Measures (APMs). For more information on the APMs used by the Group,
including definitions, please refer to page 68 in the full results (link below).
Notice of dividend
Notice of Dividend
(Dividend No. 36)
Notice is hereby given that a final dividend on the Company's ordinary share capital in respect of the year to
31 December 2019 will be paid as follows:
Amount (United States currency) (note 1) 47 cents per ordinary share
Amount (South African currency) (note 2) R7.03106 per ordinary share
Last day to effect removal of shares between the United Kingdom (UK) and
South African (SA) registers Monday 09 March 2020
Last day to trade on the JSE Limited (JSE) to qualify for dividend Tuesday 10 March 2020
Ex-dividend on the JSE from the commencement of trading (note 3) Wednesday 11 March 2020
Ex-dividend on the London Stock Exchange from the commencement of trading on Thursday 12 March 2020
Record date (applicable to both the UK principal register and SA branch register) Friday 13 March 2020
Movement of shares between the UK and SA registers permissible from Monday 16 March 2020
Last day for receipt of US$:GBP/EUR currency elections by the UK Registrars (note 1) Wednesday 8 April 2020
Last day for receipt of Dividend Reinvestment Plan (DRIP) mandate forms by the UK
Registrars (notes 4, 5 and 6) Wednesday 8 April 2020
Currency conversion US$:GBP/EUR rates announced on (note 7) Friday 17 April 2020
Last day for receipt of DRIP mandate forms by Central Securities Depository
Participants (CSDPs) (notes 4, 5 and 6) Tuesday 21 April 2020
Last day for receipt of DRIP mandate forms by the South African Transfer Secretaries
(notes 4, 5 and 6) Wednesday 22 April 2020
Payment date of dividend Thursday 7 May 2020
Notes
1. Shareholders on the UK register of members with an address in the UK will be paid in Sterling and those with an address in a country in the
European Union which has adopted the Euro will be paid in Euros. Such shareholders may, however, elect to be paid their dividends in US dollars
provided the UK Registrars receive such election by Wednesday, 8 April 2020. Shareholders with an address elsewhere will be paid in US dollars
except those registered on the South African branch register who will be paid in South African rand.
2. Dividend Tax will be withheld from the amount of the gross dividend of R7.03106 per ordinary share paid to South African shareholders at the rate
of 20% unless a shareholder qualifies for exemption. After the Dividend Tax has been withheld, the net dividend will be R5.62485 per ordinary
share. Anglo American plc had a total of 1,366,570,089 ordinary shares in issue, including 336,137 treasury shares, as at 18 February 2020. In
South Africa the dividend will be distributed by Anglo American South Africa Proprietary Limited, a South African company with tax registration
number 9030010608, or one of its South African subsidiaries, in accordance with the Company's dividend access share arrangements. The dividend
in South African rand is based on an exchange rate of US$1:R14.9597 taken on Wednesday, 19 February 2020, being the currency conversion
date.
3. Dematerialisation and rematerialisation of registered share certificates in South Africa will not be effected by CSDPs during the period from the JSE
ex-dividend date to the record date (both days inclusive).
4. Those shareholders who already participate in the DRIP need not complete a DRIP mandate form for each dividend as such forms provide an
ongoing authority to participate in the DRIP until cancelled in writing. Shareholders who wish to participate in the DRIP should obtain a mandate
form from the UK Registrars, the South African Transfer Secretaries or, in the case of those who hold their shares through the STRATE system,
their CSDP.
5. In terms of the DRIP, and subject to the purchase of shares in the open market, share certificates/CREST notifications are expected to be mailed
and CSDP investor accounts credited/updated on Tuesday, 2 June 2020. CREST accounts will be credited on Thursday, 14 May 2020.
6. Copies of the terms and conditions of the DRIP are available from the UK Registrars or the South African Transfer Secretaries.
7. The US$:GBP/EUR conversion rates will be determined by the actual rates achieved by Anglo American buying forward contracts for those currencies,
during the two days preceding the announcement of the conversion rates, for delivery on the dividend payment date.
Registered office UK Registrars South African Transfer Secretaries
20 Carlton House Terrace Equiniti Computershare Investor Services (Pty) Limited
London Aspect House Rosebank Towers, 15 Biermann Avenue
SW1Y 5AN Spencer Road Rosebank, 2196, South Africa
United Kingdom Lancing Private Bag X9000
West Sussex Saxonwold, 2132
BN99 6DA South Africa
United Kingdom
Short form announcement
This short form announcement is the responsibility of the directors of Anglo American plc and is a summary of
the information in the detailed results announcement available on
https://senspdf.jse.co.za/documents/2020/JSE/ISSE/ANAAL/FY2019.pdf and on the group's website
https://www.angloamerican.com/investors/financial-results-centre
This announcement does not contain full details and any investment decision in relation to the Company's
shares should be based on the full announcement. The full announcement is available to inspect, at no charge,
at the Company's registered office: 20 Carlton House Terrace, London SW1Y 5AN and the office of the sponsor
during standard office hours.
The financial data disclosed above relates to Anglo American and/or its shares.
The Company has a primary listing on the Main Market of the London Stock Exchange and secondary listings on
the Johannesburg Stock Exchange, the Botswana Stock Exchange, the Namibia Stock Exchange and the SIX
Swiss Exchange.
JSE share code: AGL ISIN: GBOOB1XZS820
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Cnr Fredman Drive and Rivonia Road, Sandton, 2196
20 FEBRUARY 2020
For further information, please contact:
Media Investors
UK UK
James Wyatt-Tilby Paul Galloway
james.wyatt-tilby@angloamerican.com paul.galloway@angloamerican.com
Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968 8718
Marcelo Esquivel Robert Greenberg
marcelo.esquivel@angloamerican.com robert.greenberg@angloamerican.com
Tel: +44 (0)20 7968 8891 Tel: +44 (0)20 7968 2124
Katie Ryall Emma Waterworth
katie.ryall@angloamerican.com emma.waterworth@angloamerican.com
Tel: +44 (0)20 7968 8935 Tel: +44 (0)20 7968 8574
South Africa
Pranill Ramchander
pranill.ramchander@angloamerican.com
Tel: +27 (0)11 638 2592
Sibusiso Tshabalala
sibusiso.tshabalala@angloamerican.com
Tel: +27 (0)11 638 2175
Notes to editors:
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, greener, more sustainable 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 and nickel -
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.
http://www.angloamerican.com
Date: 20-02-2020 09:00:00
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