‘A milestone but not the best we can be’ - Anglo American CEO on record half-year earnings
Anglo American has beat expectations, reporting a 262 per cent year-on-year jump in underlying Earnings Before Interest, Taxes, Depreciation, and Amortization. This is for the six months ended June. The performance was driven by high commodity prices and strong market demand. The company has been able to pay an interim dividend worth $2.1 billion and provide $2 billion in additional return to shareholders. Anglo American CEO,Mark Cutifani joins CNBC Africa for more.
Thu, 29 Jul 2021 17:19:01 GMT
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AI Generated Summary
- Anglo American reported a 262% year-on-year increase in EBITDA, driven by high commodity prices and strong market demand.
- CEO Mark Cutifani believes that while the company's financial performance is commendable, there is still room for improvement in various aspects.
- Cutifani discussed the company's outlook for commodity prices, capital allocation strategies, and sustainable growth initiatives.
Anglo American, a global mining company, has surpassed expectations by reporting a remarkable 262% increase in underlying Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the first half of the year, ending in June. This outstanding performance was primarily attributed to high commodity prices and robust market demand. As a result, the company was able to distribute an interim dividend totaling $2.1 billion and provide an additional $2 billion in returns to its shareholders. Mark Cutifani, the CEO of Anglo American, recently spoke with CNBC Africa to delve into the company's exceptional financial results and future prospects. Cutifani emphasized that while achieving record earnings is a significant milestone, he believes that the company can strive for even greater success. He highlighted the absence of any fatal incidents during the period as a crucial achievement, emphasizing the importance of safety in addition to financial performance.