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AGL
ANAAL
Anglo American plc notification: Anglo Platinum annual results 2005
Anglo American plc
(Incorporated in the United Kingdom)
Registration number: 3564138
Share code: AGL
ISIN: GB0004901517
Anglo American plc notification:
Anglo Platinum annual results 2005
Anglo American wishes to draw attention to Anglo Platinum"s announcement of
their annual results for the year ended 31 December 2005.
Anglo American will report underlying earnings in respect of Platinum of US$483
million for the year ended 31 December 2005, which takes into account certain
adjustments.
Anglo Platinum Limited $m
IFRS headline earnings US dollar equivalent 664
Exploration 21
Other adjustments (2)
683
Minority interest (173)
Depreciation on assets fair valued on acquisition (net (51)
of tax)
Impact of change in South African corporate tax rate
on assets fair valued on acquisition 24
Contribution to Anglo American plc underlying earnings 483
Anglo American will report annual results for the year ended 31 December 2005 on
22 February 2006.
The above figures are unaudited.
Underlying Earnings
In previous reporting periods the Group has reported Headline Earnings as its
primary earnings measure, using the definition of Headline Earnings which is
required to be disclosed by the Johannesburg Stock Exchange Limited (`JSE Ltd"),
consistent with that given by the Institute of Investment Management and
Research (`IIMR").*
Following the adoption of International Financial Reporting Standards, as well
as consideration of other restrictions of the definition, the Group believes
that an alternative measure would provide a clearer picture of the underlying
performance of the Group.
Consequently, the Group has adopted `Underlying Earnings" as its principal
measure of earnings. Underlying Earnings is net profit attributable to equity
shareholders, adjusted for the effect of special items and remeasurements, and
any related tax and minority interests. Special items include those items of
financial performance which the Group believes should be excluded from
performance earnings, and principally relate to impairment and significant
closure costs, exceptional legal provisions and profit or loss on disposals.
Remeasurements include unrealised gains and losses on non-hedge derivative
instruments that are recorded in the income statement.
Headline Earnings and Headline EPS for the Group will also continue to be
reported to comply with JSE Ltd listing requirements, and a full reconciliation
will be provided between Underlying Earnings and Headline Earnings.
13 February 2006
* Statement of Investment Practice No. 1, September 1993.
Date: 13/02/2006 09:15:04 AM Produced by the JSE SENS Department
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