AAL Anglo American Plc

   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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