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2006
Highveld Steel and Vanadium Corporation Limited US$ million
IFRS headline earnings (US$ equivalent of published) 154
Adjustment in respect of disposal group accounting (1) 13
Other adjustments (7)
160
Minority interest (81)
Contribution to Anglo American plc underlying earnings 79
(1) Highveld was reclassified as `Held for Sale` during the year and,
therefore, in accordance with IFRS 5, the Group ceased recording depreciation
from the poi nt of reclassification.
2006
The Tongaat-Hulett Group Limited US$ million
IFRS headline earnings (US$ equivalent of published) 104
104
Minority interest (54)
50
Add Anglo American plc`s share of Hulamin 5
Contribution to Anglo American plc underlying earnings 55
Exchange rates and commodity prices
US$ exchange rates 2006 2005
Average spot prices for the year
South African rand 6.77 6.37
Sterling 0.54 0.55
Euro 0.80 0.80
Australian dollar 1.33 1.31
Chilean peso 530 559
Closing spot prices
South African rand 7.00 6.35
Sterling 0.51 0.58
Euro 0.76 0.85
Australian dollar 1.27 1.36
Chilean peso 533 512
Commodity prices 2006 2005
Average market prices for the year
Gold US$/oz 604 445
Platinum US$/oz 1,142 897
Palladium US$/oz 321 201
Rhodium US$/oz 4,571 2,056
Copper US cents/lb 305 167
Nickel US cents/lb 1,095 668
Zinc US cents/lb 148 63
Lead US cents/lb 58 44
European eucalyptus pulp price (CIF) US$/tonne 638 582
Key financial data
US$ million (unless otherwise stated) 2006 2005 2004
Group revenue including associates 38,637 34,472 31,938
Less: share of associates` revenue (5,565) (5,038) (5,670)
Group revenue 33,072 29,434 26,268
Operating profit including associates
before special items and remeasurements 9,832 6,376 4,697
Special items and remeasurements (excluding
financing special items and remeasurements) 376 (455) 933
Net finance costs (including
remeasurements), taxation and minority
interests of associates (481) (320) (399)
Total profit from operations and associates 9,727 5,601 5,231
Net finance costs (including special items
and remeasurements) (165) (393) (367)
Profit before tax 9,562 5,208 4,864
Income tax expense (2,640) (1,275) (923)
Profit for the financial year 6,922 3,933 3,941
Minority interests (736) (412) (440)
Profit attributable to equity shareholders
of the Company 6,186 3,521 3,501
Underlying earnings(1) 5,471 3,736 2,684
Earnings per share ($) 4.21 2.43 2.44
Underlying earnings per share ($) 3.73 2.58 1.87
Ordinary dividend per share (US cents) 108.0 90.0 70.0
Special dividend per share (US cents) 67.0 33.0 -
Weighted average number of shares
outstanding (million) 1,468 1,447 1,434
EBITDA(2) 12,197 8,959 7,031
EBITDA interest cover(3) 45.5 20.0 18.5
Operating margin (before special items and
remeasurements) 25.4% 18.5% 14.7%
Ordinary dividend cover (based on
underlying earnings per share) 3.5 2.9 2.7
Balance Sheet
Intangible and tangible assets 25,632 33,368 35,816
Other non-current assets and investments 7,819 5,375 5,375
Working capital 3,246 3,719 3,715
Other net current liabilities (1,177) (1,492) (611)
Other non-current liabilities and
obligations (5,790) (8,399) (8,339)
Net debt (3,324) (4,993) (8,243)
Net assets classified as held for sale 721 - -
Net assets 27,127 27,578 27,713
Minority interests (2,856) (3,957) (4,588)
Equity attributable to the equity
shareholders of the Company 24,271 23,621 23,125
Total capital(4) 30,451 32,571 35,956
Cash inflows from operations 10,057 7,265 5,291
Dividends received from associates and
financial asset investments 288 470 396
32.4% 19.2% 14.6%
Return on capital employed(5)
EBITDA/average total capital(4) 38.7% 26.0% 21.2%
Net debt to total capital(6) 12.9% 17.0% 25.4%
(1) 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.
(2) EBITDA is operating profit before special items, operating remeasurements,
depreciation and amortisation in subsidiaries and joint ventures and share of
EBITDA of associates.
(3) EBITDA interest cover is EBITDA divided by net finance costs, excluding
other net financial income, exchange losses and gains on monetary assets and
liabilities, amortisation of discounts on provisions, special items and
financial remeasurements, but including share of associates` net interest
expense.
(4) Total capital is net assets excluding net debt.
(5) Return on capital employed is calculated as total operating profit before
impairments for the year divided by the average total capital less other
investments and adjusted for impairments.
(6) Net debt to total capital is calculated as net debt divided by net assets
plus net debt less investments in associates.
Summary by business segment
Revenue(1) EBITDA(2)
US$ million 2006 2005 2006 2005
Platinum 5,861 3,714 2,845 1,282
Gold 1,740 2,644 843 871
Diamonds 3,148 3,316 541 655
Coal 3,333 3,349 1,082 1,243
South Africa 1,394 1,441 437 525
Australia 1,398 1,383 397 459
South America 541 525 271 273
Projects and Corporate - - (23) (14)
Base Metals 6,252 3,647 4,214 1,990
Copper 4,537 2,597 3,238 1,590
Collahuasi 1,442 712 1,037 468
Minera Sur Andes 2,372 1,306 1,640 824
Mantos Blancos 723 579 563 299
Other - - (2) (1)
Nickel, Niobium, Mineral
Sands 799 609 451 296
Catalao 66 49 26 20
Codemin 219 136 144 75
Loma de Niquel 334 249 229 153
Namakwa Sands 180 175 52 48
Zinc 916 441 588 157
Black Mountain 148 80 42 12
Lisheen 396 147 280 62
Skorpion 372 214 266 83
Other - - (63) (53)
Industrial Minerals 4,291 4,073 580 618
Tarmac 4,009 3,784 539 570
Copebras 282 289 41 48
Ferrous Metals and
Industries 6,519 6,773 1,560 1,779
Kumba 2,259 1,936 879 734
Highveld Steel 1,023 1,127 247 472
Scaw Metals 1,233 1,029 188 145
Samancor Group 425 634 51 164
Tongaat-Hulett 1,572 1,423 207 188
Boart Longyear - 618 - 87
Other 7 6 (12) (11)
Paper and Packaging 7,493 6,956 923 916
Mondi Packaging 4,132 3,798 528 528
Mondi Business Paper 2,215 2,050 297 310
Other 1,146 1,108 98 78
Exploration - - (132) (150)
Corporate - - (259) (245)
38,637 34,472 12,197 8,959
Operating profit/ Underlying
(loss)(3) earnings/(loss)
US$ million 2006 2005 2006 2005
Platinum 2,398 854 1,265 483
Gold 467 332 178 105
Diamonds 463 583 227 430
Coal 864 1,019 640 724
South Africa 380 470 279 333
Australia 279 323 216 224
South America 227 240 163 174
Projects and Corporate (22) (14) (18) (7)
Base Metals 3,876 1,678 2,647 1,240
Copper 3,019 1,381 1,908 983
Collahuasi 962 397 586 257
Minera Sur Andes 1,533 724 996 529
Mantos Blancos 526 261 328 195
Other (2) (1) (2) 2
Nickel, Niobium, Mineral
Sands 405 249 270 202
Catalao 25 18 15 17
Codemin 136 69 96 68
Loma de Niquel 209 132 134 92
Namakwa Sands 35 30 25 25
Zinc 516 102 525 100
Black Mountain 31 10 38 10
Lisheen 265 50 287 54
Skorpion 220 42 200 36
Other (64) (54) (56) (45)
Industrial Minerals 336 370 266 267
Tarmac 315 340 258 256
Copebras 21 30 8 11
Ferrous Metals and
Industries 1,360 1,456 583 757
Kumba 778 568 302 261
Highveld Steel 230 436 79 232
Scaw Metals 160 121 106 85
Samancor Group 52 144 38 103
Tongaat-Hulett 154 131 55 49
Boart Longyear - 67 - 35
Other (14) (11) 3 (8)
Paper and Packaging 477 495 274 296
Mondi Packaging 287 293 208 194
Mondi Business Paper 130 163 51 100
Other 60 39 15 2
Exploration (132) (150) (113) (115)
Corporate (277) (261) (496) (451)
9,832 6,376 5,471 3,736
(1) Revenue includes the Group`s share of revenue of joint ventures and
associates. Base Metals` revenue is shown after deduction of treatment charges
and refining charges (TC/RCs).
(2) EBITDA is operating profit before special items, remeasurements,
depreciation and amortisation in subsidiaries and joint ventures and share of
EBITDA of associates.
(3) Operating profit includes operating profit before special items and
remeasurements from subsidiaries and joint ventures and share of operating
profit (before interest, tax, minority interests, special items and
remeasurements) of associates.
ANGLO AMERICAN plc
(Incorporated in England and Wales - Registered number 3564138)
(the `Company`)
Notice of Recommended Final Dividend
(Dividend No 16)
The directors have recommended that a dividend on the Company`s ordinary share
capital in respect of the year ended 31 December 2006 will, subject to approval
by shareholders at the Annual General Meeting to be held on Tuesday 17 April
2007, be paid as follows:
Amount (United States currency) 75 cents per ordinary share (note 1)
Amount (South African currency) R5.3355 per share
Last day to effect removal of shares
between the UK and SA registers Tuesday 20 February 2007
Last day to trade on the JSE Limited
(`JSE`) to qualify for the dividend Friday 9 March 2007
Ex-dividend on the JSE from the
commencement of trading on Monday 12 March 2007
Ex-dividend on the London Stock Exchange
from the commencement of trading on Wednesday 14 March 2007
Record date (applicable to both the
United Kingdom principal register and
South African branch register) Friday 16 March 2007
Currency conversion
US$: GBP/ rates announced on Tuesday 20 March 2007
Removal of shares between the UK and
SA registers permissible from Tuesday 20 March 2007
Last day for receipt of Dividend
Reinvestment Plan (`DRIP`) Mandate Forms
by Central Securities Depository
Participants (`CSDPs`)
(notes 3, 4 and 5) Tuesday 10 April 2007
Last day for receipt of DRIP Mandate
Forms by the UK Registrars or the
South African Transfer Secretaries
(notes 3, 4 and 5) Thursday 12 April 2007
Dividend warrants posted Wednesday 2 May 2007
Payment date of dividend Thursday 3 May 2007
Notes:
1. Shareholders on the United Kingdom register of members with an address in
the United Kingdom will be paid in pounds sterling and those with an address
in a country in the European Union which has adopted the euro, will be paid
in euros. Such shareholders may, however, elect to be paid their dividends in
US dollars provided the UK Registrars receive such election by Friday 16
March 2007. Shareholders with an address elsewhere will be paid in US dollars
except those registered on the South African branch register who will be paid
in South African rand. The currency conversion rates and the amounts per
share in pounds sterling/euros will be announced on Tuesday 20 March 2007.
2. Dematerialisation and rematerialisation of registered share certificates
in South Africa will not be effected by CSDPs during the period from Monday
12 March 2007 to Friday 16 March 2007 (both days inclusive).
3. Those shareholders who already participate in the DRIP need not complete a
DRIP mandate form for each dividend as such forms provide an on-going
authority to participate in the DRIP until cancelled in writing. Shareholders
who wish to participate in the DRIP should obtain a mandate form from the UK
Registrars, the South African Transfer Secretaries or, in the case of those
who hold their shares through the STRATE system, their CSDP.
4. In terms of the DRIP, and subject to the purchase of shares in the open
market, share certificates/Crest notifications are expected to be mailed and
CSDP investor accounts credited/updated on Wednesday 23 May 2007.
5. Copies of the terms and conditions of the DRIP are available from the
UK Registrars or the South African Transfer Secretaries.
By order of the Board
N Jordan
Secretary
20 February 2007
Registered office UK Registrars
20 Carlton House Terrace Lloyds TSB Registrars
London The Causeway
SW1Y 5AN Worthing
England West Sussex
BN99 6DA
England
South African Transfer Secretaries
Link Market Services South Africa (Pty) Limited
11 Diagonal Street
Johannesburg 2001
PO Box 4844, Johannesburg 2000
South Africa
Sponsor: J.P.Morgan Equities Limited
Date: 21/02/2007 08:59:01 Produced by the JSE SENS Department.
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