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Anglo American 2nd Half Recovery Was Better Than Expected — Earnings Review

By Jaime Llinares Taboada

 

Anglo American PLC reported results for 2020 on Thursday. Here's what we watched:

 

REVENUE: The FTSE 100 miner's revenue for 2020 came in at $30.90 billion, a 3% rise on the prior year, as stronger metals prices offset operational disruptions. This exceeded the $29.96 billion consensus estimate, taken from Vuma and based on nine analyst forecasts.

 

UNDERLYING EBITDA: Anglo American reported underlying Ebitda of $9.80 billion, beating the $9.39 billion market consensus--also taken from Vuma and based on nine analyst estimates. In the six months to June, underlying Ebitda had fallen 39% to $3.35 billion, indicating a marked recovery in the second half of 2020.

 

WHAT WE WATCHED:

--DIVIDEND: The company's board proposed a final dividend of $0.72 a share, in line with its established dividend policy to pay out 40% of underlying earnings. This was also ahead of the $0.65 market consensus--taken from Vuma and based on nine analyst forecasts.

--2021 PRODUCTION OUTLOOK: Anglo American didn't make any changes to its production guidance for the current year.

 

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

 

(END) Dow Jones Newswires

February 25, 2021 06:16 ET (11:16 GMT)

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