Anglo American Turns To Pre-tax Profit In FY25, Net Loss Widens; Cuts Dividend

Add as your preferred news source on Google Add Now British miner Anglo American PLC (AAL.L,AAUKY.PK) reported Friday a pre-tax profit in fiscal 2025, compared to prior year's loss, while loss after tax was wider than last year, amid higher revenues and weak Copper production. Further, the firm trimmed its dividend for the year.In fiscal 2025, profit before tax was $883 million, compared to loss of $1.36 billion last year.On an after-tax basis, loss attributable to equity shareholders was $3.74 billion or $3.30 per share, wider than loss of $3.07 billion or $2.53 per share last year.The results included a pre-tax impairment of $2.3 billion related to its De Beers diamond business. Underlying pre-tax profit was $3.44 billion, compared to $3.59 billion a year ago.Underlying earnings were $610 million or $0.54 per share, compared to $1.94 billion or $1.60 per share last year.Basic underlying earnings per share Continuing operations were $0.80, down from $1.11 a year ago.The company's overall underlying EBITDA from continuing operations increased 2 percent year-over-year to $6.42 billion, while EBITDA margin of 33 percent dropped from 34 percent last year.Anglo American said it maintained strong operational and cost performance in its Copper and Premium Iron Ore businesses, with improved underlying EBITDA in both segments. Revenue grew 5 percent to $18.55 billion from last year's $17.75 billion.Production volumes decreased by 5 percent on a copper equivalent basis compared to the prior year, reflecting lower production at Copper Chile and De Beers.Copper production was 695 thousand tons, down 10 percent from the previous year, while Premium Iron Ore production remained flat at 60.8 million tons. Manganese ore production increased by 30 percent to 2.975 million tons. At De Beers, the company's diamond business, rough diamond production declined by 12 percent to 21.7 million carats. Further, the Board of Directors has proposed a final dividend of $0.16 per share, 27 percent lower than the previous year's final dividend of $0.22 per share. The total dividend per share for the year would be $0.23, down 64 percent from the prior year's $0.64 per share. For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com. For comments and feedback contact: editorial@rttnews.comBusiness News