Anglo American Platinum Limited (“the Company”) will release results for the twelve months ending 31 December 2014 (“the period”) on the Johannesburg Stock Exchange News Service (“SENS”) on 9 February 2015.
Shareholders are advised that headline earnings and headline earnings per share (“HEPS”) for the period are likely to be at least 20% lower (equivalent to at least R290 million and R1.10 per share) than the previous 12 months ended 31 December 2013.
Headline earnings and HEPS reported for the 12 months ended 31 December 2013, as released on SENS on 3 February 2014, (“the comparative period”) were R1,451 million and R5.56 respectively. The decrease in headline earnings and HEPS is primarily due to the impact of the five month industrial action which impacted on operational performance.
Basic earnings and basic earnings per share (“EPS”) for the period however, are likely to be at least 20% higher (equivalent to at least R275 million and R1.05 per share) than the previous 12 months ended 31 December 2013. Basic earnings and EPS reported for the comparative period were a loss of R1,370 million and R5.25 respectively.
Basic earnings for the period include a gain of R243 million (equivalent to 93 cents per share) arising on the final phase of the refinancing transaction with Atlatsa Resources Corporation and the scrapping of assets of R257 million, after tax and minority interest, (equivalent to 98 cents per share) following the closure of the Union Mine south decline section. Basic earnings reported for the 12 months ended 31 December 2013 included the scrapping of assets of R2,026 million, after tax, (equivalent to R7.76 per share) and R833 million loss (equivalent to R3.19 per share) arising from the acquisition of properties as part of the refinancing transaction with Atlatsa Resources Corporation.
Shareholders are advised that a further trading statement will be issued once the Company has reasonable certainty in providing forecast ranges for HEPS and EPS, as required by JSE Limited Listings Requirements.
The forecast financial information on which this trading statement is based has not been reviewed by or reported on by the Company’s external auditors.
Johannesburg
1 December 2014
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)