Anglo American Platinum will release results for the six months ended 30 June 2022 (“the period”) on the Johannesburg Stock Exchange News Service on 25 July 2022.
In accordance with section 3.4(b) of the JSE Limited Listings Requirements, shareholders are advised that headline earnings and headline earnings per share (“HEPS”) and basic earnings and earnings per share (“EPS”) for the period are likely to decrease by between 40% and 50% compared to the six months ended 30 June 2021. Headline earnings and basic earnings are likely to be between R23 billion and R28 billion (R46.4 billion in H1 2021) and HEPS and EPS will decrease to between 8,745 cents and 10,646 cents per share (17,647 cents and 17,633 cents, respectively, in H1 2021).
The expected decrease in headline earnings and basic earnings is primarily driven by a 20% decrease in sales volumes from own production (excluding trading activities). The prior period benefited from higher-than-normal work-in-progress inventory following the ACP Phase A rebuild and commissioning in Q4 2020, which was largely refined and sold during 2021. In addition, we saw a 14% decrease in the 3E basket price (based on platinum, palladium and rhodium), as prices were lower compared to the record high prices in the prior period.
The financial information on which this trading statement is based has been reviewed, but not yet reported on, by the Company’s external auditors.
Johannesburg
21 July 2022
Sponsor:
Merrill Lynch South Africa (Pty) Ltd t/a BofA Securities.