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Annual report suite 2012

NON-GAAP DISCLOSURE

– Summary


From time to time AngloGold Ashanti Limited may publicly disclose certain “Non-GAAP” financial measures in the course of its financial presentations, earnings releases, earnings conference calls and otherwise.

The group uses certain Non-GAAP performance measures and ratios in managing the business and may provide users of this financial information with additional meaningful comparisons between current results and results in prior operating periods. The Non-GAAP financial measures are used to adjust for fair value movements on the convertible and mandatory convertible bonds as well as the highly volatile marked-to-market movements on unrealised non-hedge derivatives and other commodity contracts, which can only be measured with certainty on settlement of the contracts. Non-GAAP financial measures should be viewed in addition to, and not as an alternative to, the reported operating results or any other measure of performance prepared in accordance with IFRS. In addition, the presentation of these measures may not be comparable to similarly titled measures that other companies use. The Non-GAAP metrics are as follows:

Figures in million (US dollars)   2012 2011
1Headline earnings adjusted for unrealised non-hedge derivatives, other commodity contracts and fair value adjustment on the convertible and mandatory convertible bonds (adjusted headline earnings) $m 924 1,297
Adjusted headline earnings per ordinary share US cps 239 336
2Gross profit adjusted for unrealised non-hedge derivatives and other commodity contracts (adjusted gross profit) $m 2,292 2,624
3Price received
– Attributable gold sold 000oz 3,953 4,305
– Revenue price per unit $/oz 1,664 1,576
4Total cash cost and production cost
– Gold produced 000oz 3,944 4,329
– Total cash cost per unit $/oz 862 728
– Total production cost per unit $/oz 1,078 950
5EBITDA $m 2,397 3,014
6Interest cover times 13 21
7Equity
– Total equity per statement of financial position $m 5,469 5,166
– Adjusted equity $m 5,214 5,738
8Net capital employed
– Adjusted net capital employed $m 8,390 7,506
9Net debt $m 2,061 610
10Net asset value US cps 1,573 1,540
11Net tangible asset value US cps 1,492 1,485
12Return on equity % 18 25
13Return on net capital employed % 14 20
14Market capitalisation $m 12,025 16,226
15Average number of employees
– South Africa 34,186 32,082
– Continental Africa 16,621 16,539
– Australasia 494 509
– Americas 7,896 7,389
– Other, including corporate and non-gold producing subsidiaries 6,625 4,723
65,822 61,242