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

ANGLO AMERICAN PLATINUM LIMITED - 2021 Interim Results short form announcement

Release Date: 26/07/2021 08:00
Code(s): AMS     PDF:  
Wrap Text
2021 Interim Results short form announcement

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


Financial Performance

H1 2021 overview

 Key Financials                                                   H1 2021        H1 2020       % change
 Dollar basket price per PGM ounce sold                              2,884          1,956              47
 Rand basket price per PGM ounce sold                               41,400         32,166              29
 Revenue (R billion)                                                 107.5           42.2             155
 Adjusted EBITDA (R billion)                                          63.3           13.1             385
 Mining EBITDA margin %                                                 71             44            27pp
 Basic earnings (R billion)                                           46.4             6.7            594
 Basic earnings per share (R/share)                                 176.33          25.46             593
 Headline earnings (R billion)                                        46.4             6.9            573
 Headline earnings per share (R/share)                              176.47          26.27             572
 Net cash (R billion)                                                 57.6           11.3             410
 Dividend per share (R/share)                                       175.00          10.23           1,611
 ROCE %                                                                207             48          155pp

Natascha Viljoen, CEO of Anglo American Platinum, commented:

“Anglo American Platinum delivered a strong safety, operational and financial performance in H1 2021. Such
a performance directly benefits our wide range of stakeholders and translates into a larger contribution in taxes,
royalties, and buying goods and services, as examples, amounting to R39.2 billion in the first half of the year.
This again demonstrates our transparent commitments to society and to being a good corporate citizen.

Our focus on the Elimination of Fatalities programme resulted in zero fatalities at our operations. With our
Covid-19 protocols firmly embedded in the workplace, and with extensive physical and mental health support
available to our teams and their families, we are doing everything possible to help keep our people safe. Anglo
American Platinum is also supporting the Covid-19 vaccine programme led by government.

Our operations had a strong recovery in performance, despite managing through the ongoing impacts of Covid-
19. Total PGM production increased by 28%. Refined production increased 128%, due to proven operational
stability at the ACP which is performing ahead of plan.

The fundamentals for our PGMs and base metals remain robust, with a 29% increase in the Rand basket price.
Coupled with strong sales volumes, we achieved EBITDA of R63.3 billion with contributions from all assets,
realising the benefits of a portfolio with diversified metal prill splits. Overall, we achieved strong earnings, we
have a strong balance sheet with net cash of R57.6 billion and increased our return on capital employed to

We have declared dividends in respect of H1 2021 consisting of both a base dividend and special dividend
amounting to R46.4 billion, R175 per share or a 100% pay-out ratio of headline earnings.

Anglo American Platinum is in a strong position and I’d like to thank all of our stakeholders who have
contributed to our first half results. In light of the devastating impact of the virus and the recent unrest in parts
of South Africa, we are adding an additional R400 million in funding to our WeCare programme so that we can
continue doing what is right for our employees, our communities and for South Africa.

We are now looking forward to further delivering on our strategic priorities, to live up to our Purpose of ‘re-
imagining mining to improve people’s lives’ and creating value for all our stakeholders."

Short form announcement

This short-form announcement is the responsibility of the directors. It is only a summary of the information
contained in the full announcement and does not contain full or complete details. Any investment decision
should be based on the full announcement accessible from Monday, 26 July 2021, via the JSE link and also
available on the Company’s website at

These interim results have been reviewed by the Group’s auditors, PricewaterhouseCoopers Inc. who
expressed an unmodified conclusion thereon.

Copies of the full announcement may also be requested by contacting Anglo American Platinum Investor
Relations by email at and are available for inspection at the Company’s
registered office at no charge, by appointment, subject to the prevailing restrictions. This short form
announcement has not been audited or reviewed by the company’s auditors.

The JSE link is as follows:

26 July 2021

Sponsor: Merrill Lynch South Africa (Pty) Ltd t/a BofA Securities.

For further information, please contact:

Investors:                                          Media:
Emma Chapman                                        Jana Marais
(SA) +27 (0)76 480 1570                             (SA) +27 (0)79 932 1586            

Notes to editors:

Anglo American Platinum Limited is a member of the Anglo American plc Group and is a 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 and smelter in Zimbabwe. Anglo American Platinum has a number of joint operations 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.

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 operations, with a broad range of future
development options, provides many of the future-enabling metals and minerals for a cleaner, greener, more
sustainable world that meet the fast growing every day demands of billions of consumers. With our people at
the heart of our business, we use innovative practices and the latest technologies to discover new resources
and to mine, process, move and market our products to our customers – safely and sustainably.

As a responsible producer of diamonds (through De Beers), copper, platinum group metals, premium quality
iron ore and metallurgical coal for steelmaking, and nickel – with crop nutrients in development – we are
committed to being carbon neutral across our operations by 2040. More broadly, our Sustainable Mining Plan
commits us to a series of stretching goals to ensure we work towards a healthy environment, creating thriving
communities and building trust as a corporate leader. We work together with our business partners and diverse
stakeholders to unlock enduring value from precious natural resources for the benefit of the communities and
countries in which we operate, for society as a whole, and for our shareholders. Anglo American is re-imagining
mining to improve people’s lives.

Date: 26-07-2021 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