Anglogold Ashanti PLC (XGHA:AGA)

GHS 37 0 (0%) Market Cap: 180.62 Bil Enterprise Value: 201.34 Bil PE Ratio: 101.00 PB Ratio: 2.90 GF Score: 76/100

Q2 2024 Anglogold Ashanti PLC Earnings Call Transcript

Aug 06, 2024 / 12:00PM GMT

Release Date Price: GHS37

Transcript

Key Points

Positve

Strong operating and financial results for H1 2024, with production up 2% year-on-year.
Significant improvement in cash costs, with a 1% reduction year-on-year.
EBITDA increased by 65% to $1.12 billion, and free cash flow turned positive to $206 million.
Brazil operations showed a remarkable turnaround with a 15% increase in gold production and a 19% reduction in cash costs.
Declared a dividend of $0.22 per share, reflecting confidence in ongoing performance and strong balance sheet.

Negative

Tragic fatality at the Geita operation, highlighting ongoing safety challenges.
Operational disruptions in Q1 due to severe weather events in Australia and Guinea.
Obuasi mine facing challenges in Block 8, impacting production and grade consistency.
High effective tax rate of 45%, driven by deferred tax adjustments in Brazil and Argentina.
Ongoing issues with tailings facilities in Brazil, requiring active closure management and additional provisions.

Operator

Good afternoon, ladies and gentlemen, and welcome to the AngloGold Ashanti H1 2024 results conference call. (Operator Instructions) Please note that this call is being recorded.

I would now like to turn the conference over to Stewart Bailey. Please go ahead, sir.

Stewart Bailey;Alberto Calderon

Anglogold Ashanti PLC - Chief Sustainability and Corporate Affairs Officer;Anglogold Ashanti Australia Ltd - Chief Executive Officer, Executive

Thanks very much, Danee, and welcome everybody to AngloGold Ashanti's first half 2024 results. As always, Alberto and Gillian will cover the material in the call, and you've got other members of the executive leadership team to take your questions.

Before we go into the presentation, I would invite you to look at the Safe Harbor statement at the front end of the presentation deck. That contains important information regarding forward-looking statements, and we do encourage you to study it when you have a moment.

Without any further ado, I'll hand over to Alberto.

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