| Mon 17 Jul 2023, 7:05 | | ANGLO AMERICAN PLATINUM LIMITED - Anglo American Platinum trading statement for the six months ended 30 June 2023 |
|
Anglo American Platinum trading statement for the six months ended 30 June 2023
Anglo American Platinum Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1946/022452/06)
Share Code: AMS
ISIN: ZAE000013181
(“The Company" or "Anglo American Platinum")
17 July 2023
Anglo American Platinum trading statement for the six months ended 30 June 2023
Anglo American Platinum will release results for the six months ended 30 June 2023 (“the period”) on the Johannesburg
Stock Exchange News Service on 24 July 2023.
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 basic earnings per share (“EPS”) have
decreased by more than 20%.
Earnings have decreased for the period largely due to a decline in revenue as a result of the lower average PGM basket
price relative to the corresponding six months in 2022. The main contributors to this were declines in rhodium and
palladium US$ prices, which were 47% and 29% lower respectively. The weakening ZAR/US$ exchange rate partially
mitigated the US$ price impact on the overall rand basket price which decreased by 15% against the period ended 30
June 2022. Furthermore, sales volumes from own production (excluding trading) were 12% lower compared to H1 2022.
This reflected lower refined production as a result of the Polokwane smelter needing to ramp-up in January following
its rebuild; scheduled annual maintenance and asset integrity work at the processing operations; and the impact of
Eskom load-curtailment, which resulted in deferred production of c.66,400 PGM ounces. Continued inflationary
pressure and exchange rate volatility have also led to higher mining and processing costs. Costs incurred in purchasing
of concentrate decreased compared to H1 2022 due to lower prices and volumes.
As a result, headline earnings and HEPS are likely to decrease by between 65% and 75% compared to the six months
ended 30 June 2022. Headline earnings are likely to be between R6.7 billion and R9.4 billion (R26.7 billion in H1 2022) and
HEPS will decrease to between 2,544 cents and 3,569cents per share (10,140 cents in H1 2022).
EPS for the period are likely to decrease by between 65% and 75% compared to H1 2022. Basic earnings are likely to be
between R6.6 billion and R9.3 billion (R26.7 billion in H1 2022) and EPS are expected to be between 2,506 cents and 3,531
cents per share (10,125 cents in H1 2022).
The financial information on which this trading statement is based is under review by the Company's external auditors.
Sponsor:
Merrill Lynch South Africa (Pty) Ltd t/a BofA Securities
For further information, please contact:
Investors: Media:
Franscelene Moodley Nomonde Ndwalaza
(SA) +27 (0)79 877 7848 (SA) +27 (0)66 311 1133
franscelene.moodley@angloamerican.com nomonde.ndwalaza@angloamerican.com
platinumIR@angloamerican.com
Anglo American Platinum Limited is a member of the Anglo American plc Group and is a 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 the Unki Platinum mine and
smelter in Zimbabwe. 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 operations, with a broad range of future development
options, provides many of the future-enabling metals and minerals for a cleaner, greener, more sustainable world and
that meet the fast-growing everyday demands of billions of consumers. With our people at the heart of our business,
we use innovative practices and the latest technologies to discover new resources and to mine, process, move and
market our products to our customers – safely and sustainably.
As a responsible producer of copper, nickel, platinum group metals, diamonds (through De Beers), and premium
quality iron ore and steelmaking coal – with crop nutrients in development – we are committed to being carbon neutral
across our operations by 2040. More broadly, our Sustainable Mining Plan commits us to a series of stretching goals
to ensure we work towards a healthy environment, creating thriving communities and building trust as a corporate
leader. We work together with our business partners and diverse stakeholders to unlock enduring value from precious
natural resources for the benefit of the communities and countries in which we operate, for society as a whole, and for
our shareholders. Anglo American is re-imagining mining to improve people’s lives.
www.angloamerican.com
Date: 17-07-2023 07:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
