Anglo American share price: Miner releases full-year figures
Anglo American (LON:AAL) today published its preliminary result for the year ended 31 December 2014.
**Highlights form the company’s statement:**
Significant operational improvements amid sharply lower commodity prices: Delivered on all major commitments for 2014 – operational performance, project delivery and portfolio restructuring targets; Strong operational performance across every business (4% production increase on Cu Eq. basis(1)); Group underlying EBIT(2) of $4.9 billion, a 25% decrease due to sharply weaker commodity prices ($2.4 billion(3) underlying EBIT impact), partially offset by weaker producer country currencies ($1.3 billion positive impact to underlying EBIT) and increased production and sales volumes; Special items after tax and non-controlling interest include commodity price-driven impairments of $3.9 billion, including $3.5 billion at Minas-Rio; Net debt of $12.9 billion as at 31 December 2014 (2013: $10.7 billion), with $15.1 billion of liquidity; $1.7 billion of bonds maturing in 2015 and $1.6 billion maturing in 2016.
Mark Cutifani, Chief Executive of Anglo American, said: “2014 was a year of significant operational improvement against sharp commodity price declines amid generally adverse market conditions. We delivered on our major operational and portfolio commitments to shareholders, including delivering Minas-Rio, defining our future platinum business and resetting the performance of our operations.”
**More to follow…**
As of 07:17 GMT, Friday, 13 February, Anglo American plc share price is 1,165.50p.