Anglo American Platinum reports strong recovery in H2-2020
Despite the impact of Covid-19 on operations, Anglo American Platinum saw metal-in-concentrate production decrease by only 14% for the year, with a strong recovery in the second half, up 1% against H2 2019.
For the year, Anglo American Platinum delivered record EBITDA, increasing 39% to R42 billion, due to a strong basket price driven by robust fundamentals for its metals as well as cost-saving benefits.
Anglo American Platinum also saw an improvement in ROCE to 72%, and a net cash position of R19 billion (including customer prepayment) due to continuous balance sheet management.
Anglo American Platinum is committed to disciplined capital allocation and continued its base dividend pay-out of 40% of headline earnings. The Board has therefore declared a final dividend of R35.35 per share.
Natascha Viljoen, CEO of Anglo American Platinum, commented: “I am excited about the impact we will make and the value we will return to stakeholders in our purpose-led journey and I feel proud of the achievements of the Anglo American Platinum team who steered through the head-winds and challenges in 2020 with courage and commitment to ‘Re-imagine mining to improve people’s lives’.”