Wrap Text
Summarised Preliminary Audited Consolidated Financial Results for the Year ended 31 December 2019 - Short Form
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")
ANGLO AMERICAN PLATINUM – 2019 ANNUAL RESULTS SHORT FORM ANNOUNCEMENT
Financial Performance
2019 overview
Key Financials 2019 2018 % change
Dollar basket price / platinum ounce 2,819 2,219 27
sold
Rand basket price / platinum ounce sold 40,862 29,601 38
Revenue (R billion) 99.6 74.6 33
EBITDA (R billion) 30.0 14.5 107
EBITDA margin % 32% 20% 12pp
Headline earnings (R billion) 18.6 7.6 145
Headline earnings per share (R/share) 70.87 28.93 145
Basic earnings (R billion) 18.5 6.9 168
Basic earnings per share (R/share) 70.46 26.31 168
Operating free cash flow (R billion) 16.9 5.6 202
Net cash (R billion) 17.3 2.9 497
Dividend per share (R/ share) 52.60 11.25 368
ROCE % 58.0% 23.8% 34pp
Chris Griffith, CEO of Anglo American Platinum, commented:
“For the first time in Anglo American Platinum’s history, we have had no
workplace fatalities at our managed operations in the year. The Company also
demonstrated leading Environmental, Social and Governance (ESG) performance
in 2019. Anglo American Platinum has delivered another strong set of
operational and financial results. Overall, PGM production was up 1%, with
record production once again achieved at Mogalakwena and Unki mines. EBITDA
doubled to R30.0 billion and ROCE increased to 58%. Net cash is at R17.3
billion, an improvement of R14.4 billion from end 2018. As a result of the
strong cash generation, a final dividend for H2 2019 of R11.2 billion or
R41.60/share was declared, made up of R16.60 base dividend and R25.00 special
dividend. This brings the aggregate 2019 dividend to R14.2 billion or
R52.60/share. We continue to progress the next phase of our strategy,
focusing on optimising value at our operations through world-best operating
practices, modernisation and by investing in breakthrough projects to reach
new benchmark (known as P101) levels of productivity and the implementation
of FutureSmart MiningTM technologies, digitalisation and sustainability. We
continue to assess the project studies for expansion at Mogalakwena and
Mototolo/Der Brochen as well as investing in market development to stimulate
incremental demand for our platinum group metals.”
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, 17 February 2020, via
the JSE link and also available on the Company’s website at
www.angloamericanplatinum.com.
These annual results have been audited by the Group’s auditors, Deloitte &
Touche who expressed an unqualified opinion thereon. A key audit matter
relating to the physical quantities and measurement of metal inventories is
addressed in the unqualified opinion of Deloitte & Touche. This opinion is
available, along with the annual financial statements on the Company’s
website at www.angloamericanplatinum.com/investors/annual-reporting.
Copies of the full announcement may also be requested by contacting Anglo
American Platinum Investor Relations by email at emma.chapman@angloamerican.com
and are available for inspection at the Company’s registered office at no charge,
weekdays during office hours. This short form announcement has not been audited or
reviewed by the company’s auditors.
The JSE link is as follows:
https://senspdf.jse.co.za/documents/2020/jse/isse/ANANP/FY19result.pdf
Johannesburg, South Africa
17 February 2020
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: 17-02-2020 08:00:00
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