Anglo American maintains its 2015 interim dividend

DividendMax Ltd.

Anglo American maintains its 2015 interim dividend

Improved operational performance and accelerated cost and capex reductions to mitigate price weakness

á Group underlying EBIT(1) of $1.9 billion, a 36% decrease due to sharply weaker commodity prices ($1.9 billion(2) underlying EBIT impact), partially offset by weaker producer country currencies and cost reductions ($0.6 billion underlying EBIT benefit)(3)

á Commodity price-driven impairments of $3.5 billion after tax, including $2.9 billion at Minas-Rio

á Productivity improvements and indirect and capital cost reductions accelerated, with disposals being progressed:

- $1.5 billion(4) of operating and indirect cost reductions and productivity gains targeted in H2 2015 and 2016 (operating costs $800 million, productivity gains $400 million, indirect costs $300 million)

- Additional capital expenditure reductions of up to $1.0 billion by end 2016

- $1.6 billion of disposal proceeds delivered in July 2015

á Improved operational performance and cash flows delivering net debt of $13.5 billion as at 30 June 2015 (31 December 2014: $12.9 billion), with $15.0 billion of liquidity maintained. Following receipt of Lafarge Tarmac proceeds, net debt is $11.9 billion.

- Production volumes increased by 8% (Cu eq.)(3)

- Unit costs decreased by 5% (local currency) and 14% in US dollar terms(3)

Financial highlights

US$ million, unless otherwise stated

6 months ended

30 June 2015

 

6 months ended

30 June 2014


Change

Underlying EBIT

1,883

 

2,932

(36)%

Underlying earnings

904

 

1,284

(30)%

Group revenue

13,346

 

16,144

(17)%

Underlying EBITDA

3,280

 

4,328

(24)%

(Loss)/profit before tax

(1,920)

 

2,945

-

(Loss)/profit for the financial period attributable to equity shareholders of the Company

(3,015)

 

1,464

-

Underlying earnings per share (US$)

0.70

 

1.00

(30)%

Dividend per share (US$)

0.32

 

0.32

-

Attributable ROCE%

8%

 

10%

-

Companies mentioned