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MarketScreener Homepage  >  Equities  >  Johannesburg Stock Exchange  >  Anglo American Platinum Limited    AMS   ZAE000013181

ANGLO AMERICAN PLATINUM LIMITED

(AMS)
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Anglo American Platinum 2019 Earnings Soared; CEO to Step Down -- Update

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02/17/2020 | 02:26am EDT

(Adds detail on outlook)

 

By Adria Calatayud

 

Anglo American Platinum Ltd. said Monday that net profit for last year more than doubled on the back of higher platinum prices and steady production, and that Chief Executive Chris Griffith will step down in April.

The South Africa-based platinum miner, which is majority owned by Anglo American PLC, said profit was 18.50 billion South African rand ($1.24 billion) compared with ZAR6.90 billion a year earlier.

Headline earnings, the company's preferred metric which strips out certain items, came to ZAR18.60 billion, up from ZAR7.59 billion in the prior year and in line with the company's guidance of between ZAR17.55 billion and ZAR19.06 billion.

Revenue rose 33% to ZAR99.55 billion in 2019, the company said.

Anglo American Platinum declared a final dividend of ZAR41.60 a share, including a base dividend of ZAR16.60 a share and a special dividend of ZAR25.00 a share, it said.

Mr. Griffith will step down at the company's annual general meeting on April 16 after more than seven years, Anglo American Platinum said. His successor is expected to be an internal candidate from the Anglo American group and will be named in the near future, the company said.

The company said the medium-term outlook for platinum-group metals remains positive, with the three major PGMs--platinum, palladium and rhodium--expected to be in a combined fundamental deficit in 2020. This, combined with robust demand, will continue to drive strong earnings, it said.

Anglo American Platinum said PGM production is expected to be between 4.2 million and 4.6 million ounces.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

Stocks mentioned in the article
ChangeLast1st jan.
ANGLO AMERICAN PLATINUM LIMITED 4.92% 754.19 End-of-day quote.4.75%
ANGLO AMERICAN PLC -7.16% 1315 Delayed Quote.-34.82%
DOW JONES AFRICA TITANS 50 INDEX -0.43% 347.06 Delayed Quote.-34.50%
DOW JONES SOUTH AFRICA(ZAR) -1.99% 1311.11 Delayed Quote.-25.85%
PALLADIUM -4.30% 2216 Delayed Quote.19.89%
PLATINUM -0.02% 718.8 Delayed Quote.-24.89%
S&P AFRICA 40 INDEX -0.58% 102.44 Delayed Quote.-41.14%
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Financials (ZAR)
Sales 2020 106 B
EBIT 2020 35 123 M
Net income 2020 23 622 M
Finance 2020 13 695 M
Yield 2020 3,88%
P/E ratio 2020 7,21x
P/E ratio 2021 5,49x
EV / Sales2020 1,74x
EV / Sales2021 1,43x
Capitalization 198 B
Chart ANGLO AMERICAN PLATINUM LI
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Anglo American Platinum Li Technical Analysis Chart | AMS | ZAE000013181 | MarketScreener
Technical analysis trends ANGLO AMERICAN PLATINUM LI
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Average target price 1 064,50  ZAR
Last Close Price 754,19  ZAR
Spread / Highest target 88,3%
Spread / Average Target 41,1%
Spread / Lowest Target -7,19%
EPS Revisions
Managers
NameTitle
Christopher Ivan Griffith Chief Executive Officer & Executive Director
Norman Bloe Mbazima Chairman
Craig Miller Finance Director & Director
Gordon Smith Executive Head-Technical
Richard Matthew Wingfield Dunne Independent Non-Executive Director
Sector and Competitors