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AngloGold Ashanti Posts Q4 Loss - Quick Facts

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

AngloGold Ashanti (AU,AGD.L) reported a fourth-quarter loss to equity shareholders of $188 million compared to profit of $385 million last year. Loss per ordinary share was $0.49 compared to profit of $0.95 prior year. Special items negatively impacted net results by $402 million for the quarter. Headline earnings decreased to $109 million or $0.28 per share from $289 million or $0.75 per share prior year. Revenue decreased to $1.49 billion from $1.86 billion last year.

Adjusted headline earnings decreased to $7 million or $0.02 per share from $295 million or $0.76 per share last year. Adusted headline earnings was affected by the lower volumes and higher cash costs during the quarter, reflecting the impact of the strike in South Africa which eroded $208 million of earnings and the change-over of the mine development contractor at Obuasi and other factors which had a negative impact. The company said the strong performance from the Americas region was primarily offset by the strikes in South Africa.

AngloGold Ashanti reported full-year adjusted headline earnings of $924 million, the second-highest on record. The full-year results included about $208 million lost to the strike.

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