Anglo American Platinum SENS statement:
Trading Statement for the twelve months ended 31 December 2020
Anglo American Platinum (Amplats) will release results for the twelve months ended 31 December 2020 (“the period”) on the Stock Exchange News Service on 22 February 2021.
Shareholders are advised that headline earnings and headline earnings per share (“HEPS”) for the period are likely to increase by between 49% and 69% compared to the twelve months ended 31 December 2019 (the “prior period”). Headline earnings are likely to be between R27.8bn and R31.4bn (R18.6bn in 2019) and HEPS will increase to between 10,586 cents and 11,957 cents per share (7,087 cents in 2019).
Basic earnings and earnings per share (“EPS”) for the period are likely to increase by between 50% and 70% compared to the prior period. Basic earnings are likely to be between R27.8bn and R31.4bn (R18.5bn in 2019) and EPS is expected to be between 10,586 cents and 11,957 cents per share (7,046 cents in 2019).
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The expected increase in headline earnings and basic earnings is primarily driven by a 71% increase in the rand basket price and partially offset by the impact of Covid-19 on M&C production, as well as the temporary closure of the Anglo Converter Plant (ACP) during the year, which resulted in lower refined production and sales from own production. The build-up in work-in-progress inventory will be released over the next 24 months. The ACP Phase A rebuild was completed on 24 November 2020 and has been operating well and in line with expectations.
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The financial information on which this trading statement is based has been reviewed, but not yet reported on, by the Company’s external auditors.
