LONDON (dpa-AFX) - British miner Anglo American PLC (AAL.L, AAUKY.PK) reported Thursday narrower loss in its first half, with increased revenues, benefited mainly by higher production at De Beers and Manganese. Further, the firm maintained fiscal 2026 production view.
In London, the shares were trading at 3,605.00 pence, up 0.08 percent.
In the first half, loss attributable to equity shareholders of the Company narrowed to $858 million from last year's loss of $1.88 billion. Loss per share was $0.80, compared to loss of $1.58 a year ago.
The results mainly reflected the impact of a reduction in the carrying value of the Steelmaking Coal business to reflect the agreed sale terms.
Basic underlying earnings per share surged to $0.58 from $0.15 last year. On a continuing operations basis, basic underlying earnings per share were $0.77, compared to $0.32 a year ago.
Underlying EBITDA for continuing operations increased 35 percent to $4.00 billion from $2.96 billion last year.
EBITDA margin grew to 38 percent from 32 percent a year ago.
Revenue for the period from continuing operations increased 11 percent to $9.93 billion from $8.95 billion last year.
Production volumes increased by 6 percent on a copper equivalent basis compared to the prior period, reflecting higher production at De Beers and Manganese.
In the first half, copper production from continuing operations edged up to 344 kt from 342 kt last year.
Premium iron ore dropped 2 percent from last year to 30.6 Mt, while Manganese ore climbed 52 percent to 1,667 kt and Diamonds grew 46 percent to 14.9 Mct.
Further, the Board has approved an interim dividend of $0.23 per share, significantly higher than $0.07 last year.
Looking ahead, for fiscal 2026, the miner still expects copper output of 700 to 760 thousand tons and premium iron ore production of 55 million tons to 59 million tons. Anglo American continues to project diamond production of 21 million carats to 26 million carats.
Duncan Wanblad, CEO of Anglo American, said, 'We are very much on track to deliver our next phase of transformation. On the back of our robust operational and financial performance in the first half of the year, we have every confidence that we are making the right choices in terms of realising full value from our portfolio, both now and looking towards completion of our compelling combination with Teck.'
The company added that it continues to work through the European Commission's anti-trust approval process for the sale of Nickel business, while also advancing the sale process for De Beers alongside streamlining opportunities to improve its cost performance.
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