AngloGold expects surge in earnings despite output falling
AngloGold Ashanti trading statement for the year ended 31 December 2020
AngloGold Ashanti will release results for the year ended 31 December 2020 (the “Period”) on the Johannesburg Stock Exchange News Service on 22 February 2021.
With reference to the Listings Requirements of the JSE Limited, issuers are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported on next will differ by at least 20% from those of the previous corresponding reporting period.
Expected Headline Earnings and Basic Earnings – Continued Operations
Shareholders are advised that the Company has reasonable certainty that headline earnings for the Period are expected to be between $962m and $1,037m, with headline earnings per share (“HEPS”) of between US 229 cents and US 247 cents. Headline earnings and HEPS for the comparative period in 2019 were $379m and US
Gurit’s (Zurich, Switzerland) net sales growth report released on Jan. 29 indicates the company’s strong finish to 2020 in the wind industry, despite challenges posed by the COVID-19 pandemic. The report places preliminary and unaudited net sales at CHF 578.8 million (approximately USD $641 million) for the full year (FY) of 2020 (compared to FY 2019: CHF 576.4 million, or approx. USD $638 million). This represents an increase of 0.4% in reported Swiss francs and 5.8% growth on a currency adjusted basis. Continued Operations grew 8.9% at constant exchange rates or 3.3% in reported Swiss francs.
Composite Materials reports net sales of CHF 276.2 million (approx. USD $306 million) for 2020. This is an increase of 10.7% in reported Swiss francs, or 16.2% at constant exchange rates over 2019. Gurit reports that the wind energy market demand was strong across all product groups. Impacted by COVID-19, marine markets saw weaker sales due to lower yacht-building activity.
(1) Excludes discontinued operations; see “Results of Discontinued Operations” for additional details.
(2) These are non-GAAP metrics. For a reconciliation of each non-GAAP metric to the nearest GAAP metric, see the applicable reconciliations contained under “Results of Operations.” For a description of each non-GAAP metric, see “Non-GAAP Financial Measures.”
Fourth quarter 2020 and recent developments include:
Sequential increase (described within this release as the change from the third quarter to the fourth quarter) in Company Owned gross loans receivable and Gross combined loans receivable of $56.3 million, or 11.3%, and $60.6 million, or 11.3%, respectively, compared to $8.2 million, or 1.2%, and $11.8 million, or 1.6%, of sequential growth for the quarter ended December 31, 2019.
Peabody Reports Results For Quarter And Year Ended December 31, 2020
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