Kumba Earnings Reconciliation

RNS Number : 4600E

Anglo American PLC

10 February 2015

 



10 February 2015
Anglo American plc notification: Kumba Iron Ore Limited year end results 2014

Anglo American wishes to draw attention to Kumba Iron Ore Limited's announcement of its results for the year ended 31 December 2014. Kumba Iron Ore Limited reported headline earnings of R11,006 million.

Anglo American will report underlying earnings in respect of Kumba Iron Ore Limited of $693 million for the year ended 31 December 2014, which takes into account certain adjustments.

$ million		Year ended 31.12.14	Year ended 31.12.13
IFRS headline earnings		1,011	1,604
Kumba Envision Trust⁽¹⁾		20	33
Other adjustments		(4)	2
		1,027	1,639
Non-controlling interests		(309)	(497)
Exploration		12	10
Elimination of intercompany interest		10	12
Depreciation of assets fair valued on acquisition		(7)	(6)
Corporate cost allocation		(40)	(50)
Contribution to Anglo American underlying earnings		693	1,108

⁽¹⁾ The Kumba Envision Trust charge is included in IFRS headline earnings but is a special item so is excluded from Anglo American underlying earnings.

Anglo American will report results for the year ended 31 December 2014 on 13 February 2015.  The above figures are unaudited.

Underlying earnings

Underlying earnings is profit attributable to equity shareholders before special items and remeasurements, and is therefore presented after net finance costs, income tax and non-controlling interests. Special items and remeasurements are those items of financial performance that the Group believes should be separately disclosed to assist in the understanding of the underlying financial performance achieved by the Group.

 

END

 

 

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