Anglo American Beat Estimates for Fiscal Year Net Profit, Underlying Ebitda -- Earnings Review
22 February 2019 - 1:23AM
Dow Jones News
By Oliver Griffin
Anglo American PLC (AAL.LN) reported its full-year results for
2018 on Thursday. Here's how the results came in:
NET PROFIT: Anglo American reported net profit of $3.55 billion
for the year ended Dec. 31, representing a 12% rise from $3.17
billion in the prior year. A consensus of 18 analysts provided by
FactSet had forecast net profit of $2.8 billion.
UNDERLYING EBITDA: The company reported earnings before
interest, taxes, depreciation and amortization, stripping out
certain one-off items of $9.16 billion, up from $8.82 billion in
2017. A consensus of 15 analysts compiled by Vuma forecast Anglo
American's underlying Ebitda at $9.05 billion.
WHAT WE WATCHED:
-DIAMONDS: Anglo American's majority owned diamond-mining
business De Beers saw underlying Ebitda fall 13% to $1.25 billion
in the year. The company said the outlook for consumer diamond
jewelry demand faces a number of challenges in 2019, including the
risk of a potential intensification of U.S.-China trade tensions,
the Chinese government's ability to rebalance economic growth
toward consumption, and further exchange-rate volatility.
-MINAS-RIO: In April last year the company said it expected its
Minas-Rio iron-ore business in Brazil to book an underlying Ebitda
loss of between $300 million-$400 million. The total impact on
underlying Ebitda due to the suspension of operations at Minas-Rio
was $600 million.
Shares at 1343 GMT were down 1% at 2000.50 pence.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
February 21, 2019 09:08 ET (14:08 GMT)
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