Anglo American Platinum's headline earnings down 38% in 2022
(Kitco News) - Anglo American Platinum (Amplats), a leading primary producer of platinum group metals, reported today that its 2022 revenue was R164.1 billion (~US$9.1 billion), compared to 2021 revenue of R214.6 billion (~US$11.9 billion).
The company said that, despite lower sales volumes in 2022, its adjusted EBITDA was R74 billion (2021: R108 billion), driven in part by the highest rand basket price on record.
Amplats added that its 2022 headline earnings were R49 billion (~US$2.7 billion), down 38% compared to 2021 (headline earnings of R79 billion or ~US$4.4 billion).
The company also announced that its Board has declared a final 2022 dividend of R9 billion or R34 per share, bringing the total dividend declared for 2022 to R115/share or R30 billion (2021: total dividend of R300/share).
“This financial year has seen us navigate a complex operating environment, with macro-economic challenges, supply chain disruptions, socio-economic unrest, and electricity load-curtailment, as well as some operational headwinds of our own,” said CEO Natascha Viljoen. “However, we have seen good levels of resilience across our operations, and the team has worked through these challenges to deliver our mined production, refined production, and sales numbers for the year.”
Looking ahead, Amplats said it will continue to focus on driving operational excellence across the portfolio, with “studies progressing to realize the full potential of our Tier 1 assets.”
Anglo American Platinum (JSE: AMS) is a member of the Anglo American Group and is a leading primary producer of platinum group metals. Its mining, smelting, and refining operations are based in South Africa. Elsewhere in the world, the Group owns Unki Platinum Mine and smelter in Zimbabwe.