Anglo American saw earnings of $8.8 billion in the financial year ended December 2017, it said in its preliminary results report on Thursday February 22.
Anglo American's underlying earnings before interest, tax, depreciation and amortization (Ebitda) rose 45% year on year, benefiting from strong bulk commodity and copper prices, the company said. Profit for the financial year attributable to equity shareholders reached $3.2 billion in 2017 compared with $1.6 billion in 2016. Meanwhile, net debt was reduced by 47% to $4.5 billion in 2017 from $8.5 billion in 2016. Anglo American's Chief Executive Officer Mark Cutifani attributed the strong financial results to transformed productivities and efficiencies across its business, together with portfolio upgrading and improved prices for many of its products....