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February 17, 2020

Anglo American Platinum profits soar in company’s first fatality-free year

South African platinum giant Anglo American Platinum has announced that its net profit for 2019 more than doubled over 2018 on the back of higher platinum group metals (PGMs) prices, as the company recorded its first-ever fatality-free year. The annual results were published the same day CEO Chris Griffith announced he will step down as CEO and executive director in April 2020.

By Matthew Hall

South African platinum giant Anglo American Platinum has announced that its net profit for 2019 more than doubled over 2018 on the back of higher platinum group metals (PGMs) prices, as the company recorded its first-ever fatality-free year. The annual results were published the same day CEO Chris Griffith announced he will step down as CEO and executive director in April 2020.

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Anglo American Platinum’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) jumped from R14.5bn ($973.5m) in 2018 to R30bn ($2.014bn) in 2019. Production remained stable over the previous year, with total production of PGMs increasing by 1%. Prices for PGMs rose in 2019, with a 27% increase in platinum, a 48% increase in palladium, and a 73% increase in the rhodium price driving positive results for the company.

Anglo American Platinum expects demand for rhodium and palladium to continue growing through 2020 due to tighter emissions rules causing an increased demand for the catalytically active metal.

Following a push for improved health and safety operations after two employee deaths in 2018, Anglo American Platinum recorded its first-ever fatality-free year.

In a statement, Griffith said: “For the first time in Anglo American Platinum’s history, we have had no workplace fatalities at our managed operations in the year. Our intense focus on eliminating fatalities is yielding positive results and, while we are proud of this milestone, we also need to eliminate injuries and extend our focus to our non-AAP managed joint venture operations.”

Griffith’s departure from the company comes after more than seven years as its CEO. The company said in a statement it was Griffith’s decision to pursue other career opportunities.

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Identify the trends of tomorrow using filings sentiment analysis

Business sentiment continues to improve, showing a clear recovery since the onset of COVID-19. Sentiment in 2021 was up by 8% compared to 2020. Industrials had the highest sequential filings sentiment growth in Q3 2021. Optimism around digital themes and general outlook drove the positive trend in overall business sentiment. GlobalData’s Filing Analytics Annual Report 2021 on Industrials provides insights into sentiment and mention trends for companies, geographies, and themes. Get real-time analysis of:
  • Quarterly & annual reports
  • Earnings call transcripts
  • IPO filings
  • Events presentations
  • ESG filing trends
Understand the overall outlook for ADS, Construction, Mining, Oil & Gas, Power and Automotive, and spot the topics and themes that will be most impactful in the next few years. Download the full report to understand what to expect and how to align your business for success.
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