Anglo American Platinum will release results for the twelve months ended 31 December 2018 (“the period”) on the Stock Exchange News Service (“SENS”) on 18 February 2019.

Shareholders are referred to the Company’s trading statement released on SENS on 13 December 2018 in which the Company advised that headline earnings and headline earnings per share (“HEPS”) for the period were expected to be at least 20% (R777 million or 297 cents per share, respectively) higher than for the comparative reporting period for the twelve months ended 31 December 2017 (“comparative period”) and that basic earnings and basic earnings per share (“EPS”) for the period were also expected to be at least 20% (R302 million or 149 cents per share, respectively) higher than for the comparative period. 

Shareholders are now advised that headline earnings and HEPS for the period are likely to increase to between R7.125 billion and R7.895 billion (or between 83% and 103% higher than the prior year figure of R3.886 billion) and to between 2,715 cents and 3,010 cents per share (or between 83% and 103% higher than the prior year figure of 1,482 cents) respectively. 

Basic earnings and EPS for the period are likely to increase to between R6.585 billion and R6.970 billion (or between 239% and 259% higher than the prior year figure of R1.944 billion) and to between 2,510 cents and 2,655 cents per share (or between 239% and 258% higher than the prior year figure of 741 cents) respectively. 

The expected increase in headline earnings and basic earnings is primarily driven by a 13% increase in the rand basket price and improved operational performance.

Basic earnings for the period will include post-tax attributable net losses of R1.5 billion, including the impairment of the company’s associate investment in BRPM, and the loss on disposal of Union mine and MASA Chrome. Headline earnings in the period will include a post-tax attributable net gain of R0.5 billion, which includes the re-measurement of deferred consideration relating to the Rustenburg disposal. Basic earnings for the comparative period included attributable impairments after tax of R3.9 billion of which R0.8 billion impacted both basic earnings and headline earnings. 

The financial information on which this trading statement is based has not been reviewed, or re