Anglo American, a leading global mining company, released its half-year financial report for 2024, highlighting a strong operational performance that resulted in steady volumes and improved unit costs. The companys underlying EBITDA was $5.0 billion, with a 4% improvement in unit costs, despite facing weak market conditions for PGMs and diamonds. Copper and Iron Ore businesses performed well, contributing $3.5 billion to the EBITDA. The company is on track to reduce annual costs by $1.7 billion and capital expenditure by $1.6 billion over the next three years. A $0.5 billion interim dividend was announced, representing 40% of underlying earnings. The report also emphasized Anglo Americans commitment to safety and sustainability, with a focus on reducing greenhouse gas emissions and improving water management. The companys net debt remained steady at $11.1 billion, with a net debt-to-EBITDA ratio of 1.1x.
| Year | Revenue | Underlying EBITDA | EBITDA Margin | Attributable Free Cash Flow | Profit/Loss Attributable to Equity Shareholders | Net Debt |
|---|---|---|---|---|---|---|
| 2024 | 14,464 | 4,980 | 33% | 506 | (672) | 11,100 |
| 2023 | 15,674 | 5,114 | 31% | (466) | 1,262 | 8,798 |