|
AGL
ANAAL
AGL - Anglo American plc - Anglo American wishes to draw attention to KIO`s
announcement of its results for the year ended 31 December 2006.
Anglo American plc
(Incorporated in the United Kingdom)
Registration number: 3564138
Share code: AGL
ISIN: GB0004901517
(the "Company")
Anglo American plc notification:
Kumba Iron Ore Limited ("KIO") annual results 2006
Anglo American wishes to draw attention to KIO`s announcement of its
results for the year ended 31 December 2006.
Anglo American will record underlying earnings in respect of Kumba of $302
million for the year ended 31 December 2006. This constitutes $262 million
in respect of KIO and $40 million in respect of Kumba`s non-iron ore
businesses (now Exxaro Resources Limited), partially disposed of in
November 2006. The Anglo American underlying earnings take into account
certain adjustments:
KIO $m
KIO IFRS pro-forma headline earnings for
the 12 months ended 31 December 2006
(US dollar equivalent of published) (1)
Depreciation of assets revalued on
acquisition (net of tax) 314
Adjustment to profit on disposal (2) (6)
Other adjustments 23
(3)
Minority interest 328
KIO contribution to Anglo American (66)
underlying earnings
Add contribution from Kumba non-iron ore 262
Kumba contribution to Anglo American 40
underlying earnings
302
(1) The KIO IFRS pro-forma headline earnings for the 12 months ended 31
December 2006 assume a minority interest of 20% in KIO`s underlying mining
assets.
(2) The BEE cost in respect of KIO`s disposal of 3% of the issued share
capital of Sishen Iron Ore Company (Pty) Limited ("SIOC") to the SIOC
Community Development Trust, as part of the conditions of the Kumba
Resources empowerment transaction, is calculated in accordance with IFRS2
"Share-based payments". This is excluded from Anglo American`s `Underlying
earnings` as it is considered to be part of the Kumba empowerment
transaction. This amount, however, is included in KIO`s `Headline earnings`
as defined by the Johannesburg Securities Exchange.
Anglo American will report annual results for the year ended 31 December
2006 on 21 February 2007. The above figures are unaudited.
Underlying 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
underlying financial performance, and principally relate to impairment and
significant closure costs, exceptional legal provisions and profit or loss
on disposals. Remeasurements include adjustments to ensure that the
unrealised gains or losses on non-hedge derivative instruments are recorded
in underlying earnings in the same period as the underlying transaction
against which these instruments provide an economic, but not formally
designated, hedge.
15 February 2007
Sponsor: J.P.Morgan Equities Limited
Date: 15/02/2007 09:30:02 Produced by the JSE SENS Department.
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