Anglo American PLC Almost Doubled Net Profit in 2017 -- Earnings Review
22 Febbraio 2018 - 11:44AM
Dow Jones News
By Oliver Griffin
Mining company Anglo American PLC (AAL.LN) reported its
full-year results on Thursday. Here's what you need to know:
NET PROFIT: Anglo American reported net profit of $3.17 billion
for the year--almost double the figure that it reported the
previous year and in line with analysts' views. A consensus
estimate of nine analysts provided by FactSet had forecast net
profit of $3.25 billion for 2017.
UNDERLYING EBITDA: Anglo American reported underlying earnings
before interest, taxes, depreciation and amortization of $8.82
billion, 45% higher than in 2016 and beating analysts' forecasts. A
consensus from 20 analysts compiled by FactSet had pegged
underlying Ebitda at $8.46 billion.
WHAT WE WATCHED
NET DEBT: Anglo American lowered its net debt to $4.5 billion,
just slightly above than the forecast range expected by financial
services firm UBS, which had predicted net debt of between $3
billion and $4 billion. The company declared a dividend for the
second half of the year of 54 cents a share, taking the total
dividend for the year to $1.02 a share--its highest in a decade.
UBS had forecast a total dividend for the year of $1.03.
PLATINUM: Anglo American said that its platinum business made a
solid recovery from the operational challenges affecting it a year
ago. Underlying Ebitda at the business grew to $866 million from
$532 million in 2016. Investment bank RBC Capital Markets had
predicted that group underlying Ebitda could be propelled $200
million higher than consensus estimates due to the impact of
headline earnings from subsidiary Anglo American Platinum Ltd.
(AMS.JO).
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
February 22, 2018 05:29 ET (10:29 GMT)
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