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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Anglo American plc    AAL   GB00B1XZS820

ANGLO AMERICAN PLC

(AAL)
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Anglo American 1st Half Profit Fell 75% Due to Pandemic, Ebitda Beat Views -- Update

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07/30/2020 | 05:12am EDT

--Anglo American took a hit from the coronavirus pandemic in the first half of 2020, as lockdowns drove an 11% output drop

--Adjusted earnings came ahead of market expectations, with production also beating forecast

--The dividend shrank by 55%, in line with the earnings-linked payout policy

 

By Jaime Llinares Taboada

 

Anglo American PLC on Thursday posted a significantly lower profit for the first half of the year as coronavirus-induced restrictions hit production, which resulted in a lower dividend in line with the company's payout policy.

The FTSE 100 multinational miner made a net profit of $471 million, down 75% from $1.88 billion a year earlier.

Underlying earnings before interest, taxes, depreciation and amortization declined 39% to $3.35 billion, but remained above the market consensus of $3.00 billion--taken from the company's website and based on nine estimates.

Chief Executive Mark Cutifani said production disruptions were partially offset by strong performances from the company's Brazilian iron ore and Chilean copper operations.

Anglo American declared an interim dividend of 28 cents a share for the period, down from 62 cents a year earlier. This was in line with the company's policy which sets the payments as 40% of underlying earnings.

"As the global economy recovers, platinum-group metals, copper and iron ore are all particularly well positioned, while De Beers, as the world's leading diamond business, is taking all appropriate steps to address the effects of acute disruption," Mr. Cutifani said.

Shares at 0732 GMT were down 55.8 pence, or 2.8%, at 1,918.0 pence.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 


Stocks mentioned in the article
ChangeLast1st jan.
ANGLO AMERICAN PLC 0.29% 1811.2 Delayed Quote.-16.65%
PLATINUM -0.12% 849 Delayed Quote.-11.81%
THE PLATINUM GROUP PUBLIC COMPANY LIMITED 0.00% 2.02 End-of-day quote.-50.49%
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Financials (USD)
Sales 2020 27 515 M - -
Net income 2020 2 464 M - -
Net Debt 2020 6 099 M - -
P/E ratio 2020 11,4x
Yield 2020 3,77%
Capitalization 28 816 M 28 763 M -
EV / Sales 2020 1,27x
EV / Sales 2021 1,13x
Nbr of Employees 60 000
Free-Float 40,7%
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Technical analysis trends ANGLO AMERICAN PLC
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Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 30,42 $
Last Close Price 23,35 $
Spread / Highest target 54,0%
Spread / Average Target 30,3%
Spread / Lowest Target 0,44%
EPS Revisions
Managers
NameTitle
Mark Cutifani Chief Executive Officer & Executive Director
Stuart John Chambers Chairman
Stephen Thomas Pearce Finance Director & Executive Director
Anthony Martin O'Neill Executive Director & Group Technical Director
Anne L. Stevens Independent Non-Executive Director
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