INVESTORS AND MEDIA Media release

Media release

Voluntary trading statement and operational performance for H1 2023

Wednesday, 2 August 2023

Johannesburg, 2 August 2023: Gold Fields Limited (Gold Fields) (JSE, NYSE: GFI) advises that headline earnings per share for the six months ended 30 June 2023 (H1 2023) are expected to range between US$0.49-0.53 per share (US$0.05-0.09 per share lower), which is 9% to 16% lower than the headline earnings of US$0.58 per share reported for the six months ended 30 June 2022 (H1 2022). The decrease in headline earnings is driven by lower gold volumes sold and higher operating costs incurred in H1 2023, underpinned by mining inflation and higher amortisation and depreciation due to higher ounces mined, partially offset by a higher gold price.

Basic earnings per share for H1 2023 are expected to range between US$0.49-0.53 per share (US$0.04-0.08 per share lower), which is 7% to 14% lower than the basic earnings of US$0.57 per share reported for H1 2022, for the same reasons given for headline earnings.

Normalised earnings per share for H1 2023 are expected to range between US$0.49-0.53 per share (US$0.03-0.07 per share lower), which is 5% to 13% lower than the normalised earnings of US$0.56 per share reported for H1 2022, for the same reasons given for headline earnings.

Q2 2023 operational performance

For Q2 2023, attributable gold equivalent production is expected to be 577koz (Q1 2023: 577koz), with All-in costs (AIC) for the quarter expected to be US$1,454/oz (Q1 2023: US$1,343/oz). All-in sustaining costs (AISC) are expected to be US$1,279/oz (Q1 2023: US$1,152/oz). The increase in AIC and AISC is driven by lower gold sold, an increase in operating costs driven by mining inflation, and higher capital expenditure.

H1 2023 operational performance

Attributable gold equivalent production for H1 2023 is expected to be 1,154koz, a 4% decrease YoY (H1 2022: 1,201koz). AIC for H1 2023 is expected to be US$1,398/oz, 3% higher than H1 2022 (US$1,352/oz), as a result of lower gold sold and an increase in operating costs driven by mining inflation, partially offset by lower project capex. AISC for H1 2023 is expected to be US$1,215/oz (H1 2022: US$1,148/ oz), a 6% increase YoY.

The financial and operational information on which this trading statement is based has not been reviewed, and reported on, by the Company’s external auditors.

Gold Fields expects to release H1 2023 financial results on Thursday, 17 August 2023.


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