Anglo American PLC
LSE:AAL

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Anglo American PLC Logo
Anglo American PLC
LSE:AAL
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Price: 2 983 GBX 1.12% Market Closed
Market Cap: 35.1B GBX

Anglo American PLC
Investor Relations

Anglo American PLC, a titan in the global mining industry, traces its roots back to 1917, when it was established in Johannesburg, South Africa. Over the decades, it has transformed into a diversified minerals and resources giant with operations spanning the globe. This transformation wasn't merely a phase but a strategic shift that insulated the company against the cyclical nature of commodity markets. Anglo American operates across various segments, with a primary focus on diamonds, copper, platinum group metals, and iron ore. The firm's integration of these diverse mining activities has allowed it to harness synergies across its operations, leveraging the vast, untapped wealth buried in the earth to meet the world's mineral demands. Their business model hinges on extracting these resources with optimum efficiency, processing them, and ultimately supplying them to a myriad of industries, from jewelry to technology, and infrastructure to manufacturing.

At the heart of Anglo American's operations lies a commitment to sustainability and innovation, recognizing that the future of mining requires striking a balance between economic gains and environmental stewardship. This dual focus not only amplifies profitability but also aligns with broader societal expectations, a critical factor in today's corporate landscape. By investing in technology and cutting-edge mining methods, Anglo American seeks to minimize environmental impact and improve safety and productivity across its sites. The profitability of the company is intricately linked to both the prevailing market prices of commodities and its ability to continuously enhance operational efficiency. In the labyrinthine world of global mining, Anglo American stands out not just for its size and scope, but also for its adaptability and forward-looking strategies, ensuring its place as a cornerstone in the resource extraction industry.

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AAL
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Last Earnings Call
Fiscal Period
Q2 2023
Call Date
Jul 27, 2023
AI Summary
Q2 2023

Financial Performance: Anglo American reported first-half EBITDA of $5.1 billion, with earnings per share (EPS) of $1.38 and a 40% payout policy resulting in an interim dividend of $0.55 per share.

Pricing Headwinds: Group EBITDA was hit by a 19% drop in basket prices year-on-year, especially in palladium, rhodium, and steelmaking coal, though Quellaveco's ramp-up and FX tailwinds provided some offset.

Production & Outlook: Group production increased 10% in the first half, mainly from Quellaveco, and the business remains on track to meet full-year production guidance.

Cost Control: Management announced a new $0.5 billion per year cost savings program, to be fully realized from mid-next year, focused on business support functions.

Capital & Balance Sheet: Net debt rose to $8.8 billion but leverage remains below the 1.5x net debt/EBITDA threshold. CapEx guidance for 2023 was tightened to about $6 billion.

Operational Priorities: The company is focused on operational consistency and cost management, with planned volume increases in steelmaking coal and ongoing efficiency drives in copper and PGM operations.

Sustainability Progress: Significant advances were made in renewable energy sourcing (Quellaveco now fully renewable), water use reduction, and the rollout of new mining technologies.

Key Financials
EBITDA
$5.1 billion
EPS
$1.38
Dividend per Share
$0.55
Dividend Payout Ratio
40%
Net Debt
$8.8 billion
Net Debt to EBITDA
0.9 times
Return on Capital Employed
18%
CapEx
$2.7 billion (half year)
Taxes and Royalties Paid
$2.5 billion (half year)
Effective Tax Rate
37%
Production
Up 10% (first half 2022)
Unit Cost
Up 1%
Annual Cost Savings
$0.5 billion per annum (run rate from mid-2024)
Water Withdrawals
26% lower than 2015 baseline
Earnings Call Recording
Other Earnings Calls
2023

Management

Mr. Duncan Graham Wanblad B.Sc.
CEO & Executive Director

Duncan Graham Wanblad is a prominent figure in the mining industry, known for his long-standing affiliation with Anglo American PLC, one of the world's leading mining companies. He holds a Bachelor of Science degree in Engineering from the University of the Witwatersrand in Johannesburg, South Africa. Wanblad's career at Anglo American began in 1990 when he joined the company as a graduate trainee. Over the years, he has held numerous key roles across different divisions, showcasing his versatility and leadership within the organization. His early roles included various positions in the base metals and gold divisions, which provided him with a broad understanding of the company's operations and the mining industry. He served as the Group Director of Strategy and Business Development from 2003 to 2006 and subsequently took on the role of CEO of Anglo American’s Base Metals business from 2006 to 2013. His leadership significantly impacted the strategic direction and profitability of these divisions. In 2016, Duncan Wanblad was appointed Group Director of Strategy and Business Development and later became the Director of the Development Department. In 2019, he took on the role of Group Director of Projects and joined the Group Management Committee. These roles highlighted his expertise in driving strategic initiatives and managing large-scale projects. Most notably, Duncan Wanblad was appointed as the Chief Executive of Anglo American in 2021, succeeding Mark Cutifani. This appointment marked a significant milestone in his career, signifying his pivotal role in shaping the future trajectory of the company. Wanblad's expansive experience within Anglo American, combined with his strategic vision, has positioned him as a key leader steering the organization through the evolving demands of the global mining sector. His leadership is characterized by a focus on sustainability, innovation, and value creation.

Mr. John Heasley
Finance Director & Executive Director

John Heasley is an experienced finance professional who serves as the Finance Director of Anglo American PLC, a multinational mining company. He is responsible for overseeing the financial operations, financial planning, and reporting of the company. Prior to joining Anglo American, Heasley held various senior finance roles in other prominent organizations, showcasing a strong background in corporate finance and strategic planning. His expertise has been instrumental in driving Anglo American's financial strategy and ensuring the company's financial health and compliance with regulatory standards.

Mr. Matthew Daley
Director of Technical & Operations and Group Head of Mining

Matthew Daley is the Executive Head of Integrated Operations at Anglo American PLC, a global mining company known for its diverse range of mining operations and commitment to sustainable practices. As part of his role, Daley is responsible for overseeing and advancing the integration of operations across the company, focusing on enhancing efficiency, productivity, and sustainability through innovative technologies and processes. His leadership involves collaborating with various teams to streamline operations and ensuring that Anglo American's mining practices align with their long-term strategic goals. Daley’s work is central to implementing cutting-edge solutions that enhance operational effectiveness and drive sustainable growth within the mining sector.

Mr. Rohan Davidson
Group Chief Information Officer
No Bio Available
Mr. Matthew Thomas Samuel Walker
Chief Executive Officer of Marketing Business
No Bio Available
Ms. Monique Carter
Director of People & Organisation

Monique Carter is an accomplished business executive known for her leadership in human resources. She is the Group Director of Human Resources at Anglo American PLC, a global mining company. Before joining Anglo American, Carter held several senior HR positions in various multinational organizations, showcasing her extensive experience and expertise in managing human capital. Her career trajectory includes roles in companies like SABMiller and Nestlé, where she focused on strategic HR management and organizational development. At Anglo American, she plays a crucial role in driving the company's HR strategy, focusing on talent management, diversity and inclusion, and enhancing organizational culture to support the company's business objectives. Her leadership has been instrumental in fostering a positive work environment and aligning the HR practices with the company's long-term growth plans.

Alexander Schmitt
Head of Marketing & Sales - Base and Specialty Metals
No Bio Available
Mr. Wilfred Theodoor Bruijn
Chief Executive Officer of Brazil

Wilfred Theodoor ("Wim") Bruijn is a seasoned executive currently associated with Anglo American PLC, a multinational mining company. He holds the position of CEO of Base Metals, where he is responsible for overseeing the company's global base metals operations, which include commodities such as copper, nickel, zinc, and more. Prior to holding this role, Wim Bruijn has had a distinguished career within the mining and resource industry, where he has accumulated extensive experience in managing large-scale operations and projects. His leadership style is noted for focusing on operational excellence, safety, and sustainable development, aligning with Anglo American's commitment to responsible mining practices. He has previously held significant roles in other leading companies in the resource sector, contributing to his deep industry knowledge and strategic insight. His technical expertise, combined with a keen sense of the industry's evolving demands, positions him as a key figure in driving Anglo American's base metals business growth and innovation. Wim Bruijn's contributions extend beyond operational management, as he is often involved in strategic planning and stakeholder engagement, ensuring that Anglo American maintains its competitive edge and adheres to its sustainability goals. His leadership is pivotal in navigating the complexities of the mining industry and in promoting a culture of continuous improvement and environmental stewardship within the organization.

Mr. Dave Palmer
Group Head of Business Improvement

Dave Palmer is currently an executive with Anglo American PLC, a global mining company known for its portfolio in diamonds, copper, platinum group metals, and other natural resources. He has held various leadership roles within the company. As an executive, Palmer plays a critical role in overseeing operations, strategic initiatives, and growth projects that align with Anglo American's commitment to sustainable and responsible mining practices. Before joining Anglo American, Palmer accumulated significant experience in the mining and resources sector, where he developed expertise in operational management, corporate strategy, and sustainability governance. His leadership style emphasizes innovation and collaboration, which is crucial in steering the company's projects and maintaining its competitive edge in the global market. Throughout his career, Palmer has been recognized for his contributions to advancing industry standards and promoting environmental stewardship within the mining sector. As part of Anglo American's leadership team, he continues to focus on long-term value creation, stakeholder engagement, and adapting to evolving market dynamics.

Mr. Thomas J. McCulley
Chief Executive Officer of Crop Nutrients

Thomas J. McCulley is an accomplished executive known for his leadership within Anglo American PLC, a major global mining company. As of recent reports, he is serving as the CEO of Anglo American's Crop Nutrients business. This division is focused on developing the Woodsmith Project, a major operation centered on the extraction and processing of polyhalite, a multi-nutrient fertilizer. McCulley brings a wealth of experience in project management and execution, having previously held significant roles in major infrastructure projects. His leadership in the Crop Nutrients division is pivotal as it represents an innovative and environmentally conscious endeavor for Anglo American, aimed at advancing sustainable agricultural solutions.

Contacts

Address
London
17 Charterhouse Street
Contacts
+442079688888.0
www.angloamerican.com