|
Group income statement
Quarter Quarter
ended ended
June March
2006 2006
SA Rand million Notes Unaudited Unaudited
Revenue 2 4,966 4,456
Gold income 4,798 4,246
Cost of sales 3 (3,546) (3,463)
Non-hedge derivative (loss) gain (1,847) (1,100)
Gross (loss) profit (594) (318)
Corporate administration and other
expenses (140) (127)
Market development costs (24) (26)
Exploration costs (116) (73)
Other net operating expenses 4 (39) (30)
Operating special items 5 14 11
Operating (loss) profit (900) (563)
Interest receivable 59 30
Exchange (loss) gain (7) (4)
Fair value adjustment on option component
of convertible bond 158 (233)
Finance costs and unwinding of
decommissioning
and restoration obligations (209) (210)
Fair value gain (loss) on interest rate
swaps - -
Share of associates" (loss) profit (1) (4)
(Loss) profit before taxation (900) (984)
Taxation 6 (86) (43)
(Loss) profit after taxation from
continuing operations (986) (1,026)
Loss for the period from discontinued
operations 7 (4) (7)
(Loss) profit for the period (989) (1,034)
Allocated as follows:
Equity shareholders of parent (1,047) (1,074)
Minority interest 58 40
(989) (1,034)
Basic (loss) earnings per ordinary share
(cents)
(Loss) profit from continuing operations a (382) (402)
Loss from discontinued operations a (1) (3)
(Loss) profit (383) (405)
Diluted (loss) earnings per ordinary
share (cents)
(Loss) profit from continuing operations b (382) (402)
Loss from discontinued operations b (1) (3)
(Loss) profit c (383) (405)
Dividends d
- Rm
- cents per share
Quarter Six months Six months
ended ended ended
June June June
2005 2006 2005
SA Rand million Unaudited Unaudited Unaudited
Revenue 4,563 9,422 8,579
Gold income 4,404 9,044 8,261
Cost of sales (3,620) (7,009) (7,036)
Non-hedge derivative (loss) gain 147 (2,947) (40)
Gross (loss) profit 931 (912) 1,186
Corporate administration and other
expenses (103) (267) (201)
Market development costs (21) (50) (42)
Exploration costs (78) (189) (138)
Other net operating expenses (34) (69) (53)
Operating special items (41) 24 (44)
Operating (loss) profit 654 (1,463) 708
Interest receivable 39 89 93
Exchange (loss) gain (4) (11) 4
Fair value adjustment on option
component of convertible bond 79 (75) 194
Finance costs and unwinding of
decommissioning
and restoration obligations (159) (419) (308)
Fair value gain (loss) on interest
rate swaps 11 - (5)
Share of associates" (loss) profit 2 (5) 3
(Loss) profit before taxation 621 (1,883) 689
Taxation 62 (128) 121
(Loss) profit after taxation from
continuing operations 683 (2,012) 690
Loss for the period from
discontinued operations (69) (11) (121)
(Loss) profit for the period 614 (2,023) 690
Allocated as follows:
Equity shareholders of parent 566 (2,121) 616
Minority interest 48 98 74
614 (2,023) 690
Basic (loss) earnings per ordinary
share (cents)
(Loss) profit from continuing
operations a 240 (784) 278
Loss from discontinued operations a (26) (4) (46)
(Loss) profit 214 (788) 233
Diluted (loss) earnings per
ordinary share (cents)
(Loss) profit from continuing
operations b 240 (784) 278
Loss from discontinued operations b (26) (4) (46)
(Loss) profit c 214 (788) 232
Dividends d
- Rm 578 450
- cents per share 210 170
a Calculated on the basic weighted average number of ordinary shares.
b Calculated on the diluted weighted average number of ordinary shares.
c The impact of the diluted earnings per share is anti-dilutive and
therefore equal to the basic earnings per share.
d Dividends are translated at actual rates on date of payment. The current
period is only indicative.
Rounding of figures may result in computational discrepancies.
Group income statement
Quarter Quarter
ended ended
June March
2006 2006
US Dollar million Notes Unaudited Unaudited
Revenue 2 766 724
Gold income 740 690
Cost of sales 3 (547) (563)
Non-hedge derivative (loss) gain (169) (188)
Gross profit (loss) 25 (61)
Corporate administration and other
expenses (22) (21)
Market development costs (4) (4)
Exploration costs (18) (12)
Other net operating expenses 4 (7) (4)
Operating special items 5 2 2
Operating (loss) profit (22) (101)
Interest receivable 9 5
Exchange (loss) gain (1) (1)
Fair value adjustment on option component
of convertible bond 25 (39)
Finance costs and unwinding of
decommissioning
and restoration obligations (32) (34)
Fair value gain (loss) on interest rate
swaps - -
Share of associates" (loss) profit - (1)
(Loss) profit before taxation (22) (170)
Taxation 6 (23) (7)
(Loss) profit after taxation from
continuing operations (45) (177)
Loss for the period from discontinued
operations 7 (1) (1)
(Loss) profit for the period (45) (179)
Allocated as follows:
Equity shareholders of the parent (54) (185)
Minority interest 9 6
(45) (179)
Basic (loss) earnings per ordinary share
(cents)
(Loss) profit from continuing operations a (20) (69)
Loss from discontinued operations a - (1)
(Loss) profit (20) (70)
Diluted (loss) earnings per ordinary
share (cents)
(Loss) profit from continuing operations b (20) (69)
Loss from discontinued operations b - (1)
(Loss) profit c (20) (70)
Dividends d
- $m
- cents per share
Quarter Six months Six months
ended ended ended
June June June
2005 2006 2005
US Dollar million Unaudited Unaudited Unaudited
Revenue 708 1,490 1,377
1,326
Gold income 684 1,430
(1,133)
Cost of sales (565) (1,110)
18
Non-hedge derivative (loss) gain 35 (357)
211
Gross profit (loss) 154 (37)
(32)
Corporate administration and other
expenses (16) (42)
(7)
Market development costs (3) (8)
(22)
Exploration costs (12) (30)
Other net operating expenses (5) (10) (8)
(7)
Operating special items (7) 4
135
Operating (loss) profit 111 (123)
15
Interest receivable 6 14
-
Exchange (loss) gain (1) (2)
32
Fair value adjustment on option
component of convertible bond 13 (14)
Finance costs and unwinding of
decommissioning
(50)
and restoration obligations (25) (67)
(1)
Fair value gain (loss) on interest
rate swaps 2 -
Share of associates" (loss) profit - (1) -
132
(Loss) profit before taxation 107 (192)
18
Taxation 9 (30)
150
(Loss) profit after taxation from
continuing operations 116 (222)
Loss for the period from
discontinued operations (12) (2) (21)
130
(Loss) profit for the period 103 (224)
Allocated as follows:
118
Equity shareholders of the parent 96 (240)
12
Minority interest 7 16
103 (224) 130
Basic (loss) earnings per ordinary
share (cents)
(Loss) profit from continuing
operations a 41 (88) 52
Loss from discontinued operations a (5) (1) (8)
(Loss) profit 36 (89) 45
Diluted (loss) earnings per
ordinary share (cents)
(Loss) profit from continuing
operations b 41 (88) 52
Loss from discontinued operations b (5) (1) (8)
(Loss) profit c 36 (89) 45
Dividends d
- $m 82 69
- cents per share 30 26
a Calculated on the basic weighted average number of ordinary shares.
b Calculated on the diluted weighted average number of ordinary shares.
c The impact of the diluted earnings per share is anti-dilutive and
therefore equal to the basic earnings per share.
d Dividends are translated at actual rates on date of payment. The current
period is only indicative.
Rounding of figures may result in computational discrepancies.
Group balance sheet
As at As at As at As at
June March June December
2006 2006 2005 2005
Notes Unaudited Unaudited Unaudited Audited
SA Rand million
ASSETS
Non-current
assets
Tangible assets 41,214 36,904 37,588 37,464
Intangible
assets 2,873 2,419 2,727 2,533
Investments in
associates 312 214 254 223
Other
investments 662 647 550 645
Inventories 1,673 1,272 789 1,182
Derivatives 73 171 403 243
Trade and
other
receivables 164 126 128 124
Deferred
taxation 368 321 215 279
Other
non-current
assets 95 136 128 101
47,434 42,210 42,781 42,794
Current assets
Inventories 3,181 2,475 2,619 2,436
Trade and
other
receivables 1,645 1,706 1,934 1,589
Derivatives 5,941 4,876 3,053 4,280
Current
portion of
other
non-current
assets 11 6 5 43
Cash
restricted for
use 21 21 197 52
Cash and cash
equivalents 2,450 1,419 1,644 1,328
13,250 10,503 9,452 9,728
100 100 100 100
Non-current
assets held
for sale
13,350 10,603 9,552 9,828
60,784 52,814 52,333 52,622
TOTAL ASSETS
EQUITY AND
LIABILITIES
Share capital
and premium 10 22,065 19,070 19,006 19,047
Retained
earnings and
other reserves 11 (3,057) (4,600) 1,410 (2,463)
Shareholders"
equity 19,008 14,470 20,416 16,584
Minority
interests 12 419 384 401 374
19,427 14,854 20,817 16,958
Total equity
Non-current
liabilities
Borrowings 9,375 10,798 10,500 10,825
Environmental
rehabilitation
and other
provisions 2,579 2,271 1,657 2,265
Provision for
pension and
post-retiremen
t benefits 1,263 1,252 1,072 1,249
Trade, other
payables and
deferred
income 109 80 20 87
Derivatives 3,484 2,928 2,130 2,460
Deferred
taxation 7,239 6,903 8,231 7,353
24,049 24,233 23,610 24,239
Current
liabilities
Trade, other
payables and
deferred
income 3,011 2,772 2,899 2,711
Current
portion of
borrowings 465 871 1,141 1,190
Derivatives 12,723 9,212 3,551 6,814
Taxation 1,110 872 315 710
17,309 13,727 7,906 11,425
41,357 37,960 31,516 35,664
Total
liabilities
60,784 52,814 52,333 52,622
TOTAL EQUITY
AND
LIABILITIES
Net asset
value - cents
per share 7,060 5,603 7,867 6,401
Rounding of figures may result in computational discrepancies.
Group balance sheet
As at As at As at As at
June March June December
2006 2006 2005 2005
Unaudited Unaudited Unaudited Audited
US Dollar
million Notes
ASSETS
Non-current
assets
Tangible assets 5,768 5,982 5,624 5,905
Intangible
assets 402 392 408 399
Investments in
associates 44 35 38 35
Other
investments 93 105 82 102
Inventories 234 206 118 186
Derivatives 10 28 60 38
Trade and
other
receivables 23 20 19 20
Deferred
taxation 51 52 32 44
Other
non-current
assets 13 22 20 16
6,639 6,842 6,401 6,745
Current assets
Inventories 445 401 392 384
Trade and
other
receivables 230 277 289 250
Derivatives 832 790 457 675
Current
portion of
other
non-current
assets 2 1 1 7
Cash
restricted for
use 3 3 29 8
Cash and cash
equivalents 343 230 246 209
1,854 1,703 1,414 1,533
Non-current
assets held
for sale 14 16 15 16
1,868 1,719 1,429 1,549
8,507 8,561 7,830 8,294
TOTAL ASSETS
EQUITY AND
LIABILITIES
Share capital
and premium 10 3,088 3,091 2,843 3,002
Retained
earnings and
other reserves 11 (428) (745) 211 (388)
Shareholders"
equity 2,660 2,346 3,054 2,614
Minority
interests 12 59 62 60 59
Total equity 2,719 2,408 3,114 2,673
Non-current
liabilities
Borrowings 1,312 1,750 1,571 1,706
Environmental
rehabilitation
and other
provisions 361 368 248 356
Provision for
pension and
post-retiremen
t benefits 177 203 160 197
Trade, other
payables and
deferred
income 15 13 3 14
Derivatives 488 475 319 388
Deferred
taxation 1,013 1,119 1,231 1,159
3,366 3,928 3,532 3,820
Current
liabilities
Trade, other
payables and
deferred
income 421 449 434 427
Current
portion of
borrowings 65 141 171 188
Derivatives 1,781 1,493 531 1,074
Taxation 155 141 47 112
2,422 2,225 1,183 1,801
Total
liabilities 5,788 6,153 4,716 5,621
TOTAL EQUITY
AND
LIABILITIES 8,507 8,561 7,830 8,294
Net asset
value - cents
per share 988 908 1,177 1,009
Rounding of figures may result in computational discrepancies.
Group cash flow statement
Quarter Quarter Quarter
ended ended ended
June March June
2006 2006 2005
SA Rand million Unaudited Unaudited Unaudited
Cash flows from operating activities
Receipts from customers 5,006 4,800 4,475
Payments to suppliers and employees (2,862) (3,230) (3,288)
Cash generated from operations 2,144 1,570 1,187
Cash generated (utilised) by
discontinued operations 14 (11) (62)
Environmental, rehabilitation and
other expenditure (17) (16) (16)
Taxation paid (178) (90) (34)
Net cash inflow from operating
activities 1,963 1,453 1,075
Cash flows from investing activities
Capital expenditure (1,168) (961) (1,068)
Proceeds from disposal of tangible
assets 54 11 4
Proceeds on disposal of discontinued
assets 22 10 -
Other investments acquired (13) (5) (5)
Associate loans and acquisitions (63) - (91)
Proceeds from disposal of investments 19 17 -
Cash restricted for use - 30 (2)
Interest received 44 18 27
Loans advanced - - (42)
Repayment of loans advanced 26 2 13
Utilised in hedge restructure - - -
Net cash outflow from investing
activities (1,079) (877) (1,164)
Cash flows from financing activities
Proceeds from issue of share capital 3,026 23 10
Share issue expenses (32) - -
Proceeds from borrowings 81 329 545
Repayment of borrowings (2,973) (369) (407)
Finance costs (84) (251) (68)
Dividends paid (70) (183) (31)
Net cash (outflow) inflow from
financing activities (52) (451) 50
Net increase (decrease) in cash and
cash equivalents 832 124 (40)
Translation 200 (33) 113
Cash and cash equivalents at
beginning of period 1,419 1,328 1,571
Net cash and cash equivalents at end
of period 2,450 1,419 1,644
Cash generated from operations
(Loss) profit before taxation (900) (984) 621
Adjusted for:
Movement on non-hedge derivatives 2,584 1,582 (185)
Amortisation of tangible assets 951 859 787
Amortisation of intangible assets 3 3 3
Deferred stripping (126) (107) 17
Interest receivable (59) (30) (39)
18 (11) 41
Operating special items
Finance costs and unwinding of
decommissioning and
restoration obligations 209 210 159
Fair value adjustment on option
component of convertible bond (158) 233 (79)
Other non-cash movements (125) 103 129
Movement in working capital (254) (289) (267)
2,144 1,570 1,187
Movement in working capital
Increase in inventories (1,019) (154) (339)
Decrease (increase) in trade and
other receivables 70 (80) (268)
Increase (decrease) in trade and
other payables 695 (55) 340
(254) (289) (267)
Six months Six months
ended ended
June June
2006 2005
SA Rand million Unaudited Unaudited
Cash flows from operating activities
Receipts from customers 9,806 8,614
Payments to suppliers and employees (6,092) (6,600)
Cash generated from operations 3,714 2,014
Cash generated (utilised) by discontinued
operations 3 (113)
Environmental, rehabilitation and other
expenditure (33) (29)
Taxation paid (269) (95)
Net cash inflow from operating activities 3,415 1,777
Cash flows from investing activities
Capital expenditure (2,130) (1,932)
Proceeds from disposal of tangible assets 65 2
Proceeds on disposal of discontinued assets 32 -
Other investments acquired (17) (12)
Associate loans and acquisitions (63) (91)
Proceeds from disposal of investments 36 -
Cash restricted for use 30 (26)
Interest received 62 72
Loans advanced - (42)
Repayment of loans advanced 28 13
Utilised in hedge restructure - (415)
Net cash outflow from investing activities (1,956) (2,431)
Cash flows from financing activities
Proceeds from issue of share capital 3,049 18
Share issue expenses (32) -
Proceeds from borrowings 410 3,113
Repayment of borrowings (3,342) (1,895)
Finance costs (336) (288)
Dividends paid (253) (519)
Net cash (outflow) inflow from financing
activities (503) 429
Net increase (decrease) in cash and cash
equivalents 956 (225)
Translation 167 239
Cash and cash equivalents at beginning of period 1,328 1,630
Net cash and cash equivalents at end of period 2,450 1,644
Cash generated from operations
(Loss) profit before taxation (1,883) 689
Adjusted for:
Movement on non-hedge derivatives 4,166 242
Amortisation of tangible assets 1,810 1,519
Amortisation of intangible assets 6 6
Deferred stripping (233) 25
Interest receivable (89) (93)
8 44
Operating special items
Finance costs and unwinding of decommissioning and
restoration obligations 419 308
Fair value adjustment on option component of
convertible bond 75 (194)
Other non-cash movements (22) 95
Movement in working capital (543) (628)
3,714 2,014
Movement in working capital
Increase in inventories (1,174) (906)
Decrease (increase) in trade and other receivables (10) (267)
Increase (decrease) in trade and other payables 640 546
(543) (628)
Rounding of figures may result in computational discrepancies.
Group cash flow statement
Quarter Quarter Quarter
ended ended ended
June March June
2006 2006 2005
US Dollar million Unaudited Unaudited Unaudited
Cash flows from operating activities
Receipts from customers 776 777 700
Payments to suppliers and employees (445) (522) (507)
Cash generated from operations 331 255 193
Cash generated (utilised) by
discontinued operations 2 (2) (11)
Environmental, rehabilitation and
other expenditure (3) (2) (2)
Taxation paid (28) (15) (5)
Net cash inflow from operating
activities 302 236 175
Cash flows from investing activities
Capital expenditure (181) (156) (167)
Proceeds from disposal of tangible
assets 8 2 -
Proceeds on disposal of discontinued
assets 4 2 -
Other investments acquired (2) (1) (1)
Associate loans and acquisitions (10) - (14)
Proceeds from disposal of investments 3 3 -
Cash restricted for use - 5 (1)
Interest received 7 3 4
Loans advanced - - (7)
Repayment of loans advanced 4 - 2
Utilised in hedge restructure - - -
Net cash outflow from investing
activities (167) (143) (183)
Cash flows from financing activities
Proceeds from issue of share capital 505 4 2
Share issue expenses (5) - -
Proceeds from borrowings 11 54 43
Repayment of borrowings (493) (60) (27)
Finance costs (13) (41) (9)
Dividends paid (11) (29) (5)
Net cash (outflow) inflow from
financing activities (5) (73) 4
Net increase (decrease) in cash and
cash equivalents 131 20 (4)
Translation (18) 1 (3)
Cash and cash equivalents at
beginning of period 230 209 253
Net cash and cash equivalents at end
of period 343 230 246
Cash generated from operations
(Loss) profit before taxation (22) (170) 107
Adjusted for:
Movement on non-hedge derivatives 281 266 (38)
Amortisation of tangible assets 147 140 123
Amortisation of intangible assets - - -
Deferred stripping (15) (17) 2
Interest receivable (9) (5) (6)
2 (2) 7
Operating special items
Finance costs and unwinding of
decommissioning and
restoration obligations 32 34 25
Fair value adjustment on option
component of convertible bond (25) 39 (13)
Other non-cash movements (20) 16 18
Movement in working capital (40) (47) (33)
331 255 193
Movement in working capital
Increase in inventories (60) (41) (17)
Decrease (increase) in trade and
other receivables 47 (20) (20)
(Decrease) increase in trade and
other payables (40) 14 3
(27) (47) (33)
Six months Six months
ended ended
June June
2006 2005
US Dollar million Unaudited Unaudited
Cash flows from operating activities
Receipts from customers 1,553 1,397
Payments to suppliers and employees (967) (1,068)
Cash generated from operations 586 329
Cash generated (utilised) by discontinued
operations - (19)
Environmental, rehabilitation and other
expenditure (5) (5)
Taxation paid (43) (15)
Net cash inflow from operating activities 538 289
Cash flows from investing activities
Capital expenditure (337) (311)
Proceeds from disposal of tangible assets 10 -
Proceeds on disposal of discontinued assets 5 -
Other investments acquired (3) (2)
Associate loans and acquisitions (10) (14)
Proceeds from disposal of investments 6 -
Cash restricted for use 5 (5)
Interest received 10 12
Loans advanced - (7)
Repayment of loans advanced 4 2
Utilised in hedge restructure - (69)
Net cash outflow from investing activities (309) (393)
Cash flows from financing activities
Proceeds from issue of share capital 509 3
Share issue expenses (5) -
Proceeds from borrowings 65 501
Repayment of borrowings (553) (305)
Finance costs (53) (47)
Dividends paid (40) (87)
Net cash (outflow) inflow from financing
activities (77) 65
Net increase (decrease) in cash and cash
equivalents 151 (38)
Translation (17) (5)
Cash and cash equivalents at beginning of period 209 289
Net cash and cash equivalents at end of period 343 246
Cash generated from operations
(Loss) profit before taxation (192) 132
Adjusted for:
Movement on non-hedge derivatives 547 18
Amortisation of tangible assets 286 244
Amortisation of intangible assets 1 1
Deferred stripping (33) 4
Interest receivable (14) (15)
- 7
Operating special items
Finance costs and unwinding of decommissioning and
restoration obligations 67 50
Fair value adjustment on option component of
convertible bond 14 (32)
Other non-cash movements (4) 15
Movement in working capital (86) (94)
586 329
Movement in working capital
Increase in inventories (100) (67)
Decrease (increase) in trade and other receivables 27 9
(Decrease) increase in trade and other payables (13) (36)
(86) (94)
Rounding of figures may result in computational discrepancies.
Statement of recognised income and expense
Six months Year Six months
ended ended ended
December June
June
2006 2005 2005
Unaudited Audited Unaudited
SA Rand million
Actuarial gains and losses
on defined benefit
retirement plans - (173) 40
Net loss (gain) on cash
flow hedges removed from
equity and reported in
income 614 391 (91)
Net loss on cash flow hedges (1,724) (1,281) (116)
Gain (loss) on available
for sale financial assets 8 17 (2)
Deferred taxation on items
above 343 445 182
Net exchange translation
differences 2,470 1,534 2,497
Net (expense) income
recognised directly in
equity 1,711 933 2,510
(Loss) profit for the period (2,023) (1,116) 690
Total recognised income and
expense for the period (312) (183) 3,200
Attributable to:
Equity shareholders of the
parent (445) (355) 3,083
Minority interest 133 172 117
(312) (183) 3,200
US Dollar million
Actuarial gains and losses
on defined benefit
retirement plans - (27) 7
Net loss (gain) on cash
flow hedges removed from
equity and reported in
income 96 18 (11)
Net loss on cash flow hedges (242) (202) (17)
Gain (loss) on available
for sale financial assets 1 2 (2)
Deferred taxation on items
above 40 69 26
Net exchange translation
differences 327 293 380
Net (expense) income
recognised directly in
equity 222 153 383
(Loss) profit for the period (224) (160) 130
Total recognised income and
expense for the period (2) (7) 513
Attributable to:
Equity shareholders of the
parent (16) (28) 504
Minority interest 14 21 9
(2) (7) 513
Rounding of figures may result in computational discrepancies.
Notes
for the quarter and six months ended 30 June 2006
1. Basis of preparation
The financial statements in this quarterly report have been prepared in
accordance with the historic cost convention except for certain financial
instruments which are stated at fair value. The group"s accounting policies
used in the preparation of these financial statements are consistent with those
used in the annual financial statements for the year ended 31 December 2005 and
revised International Financial Reporting Standards (IFRS) which are effective
1 January 2006, where applicable.
The financial statements of AngloGold Ashanti Limited have been prepared in
compliance with IAS34, JSE Listings Requirements and in the manner required by
the South African Companies Act, 1973 for the preparation of financial
information of the group for the quarter and six months ended 30 June 2006.
Where the preparation or classification of an item has been amended,
comparative information has been reclassified to ensure comparability with the
current period as disclosed in the previous annual report. Such amendments have
been made to provide the users of the financial statements with additional
information.
2. Revenue
Quarter ended Six months
ended
Jun Mar Jun Jun Jun
2006 2006 2005 2006 2005
Unaudited
SA Rand million
Gold income 4,798 4,246 4,404 9,044 8,261
By-products and other revenue
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
