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Consolidated income statement

for the year ended 31 December 2020

United States Dollar     
Figures in millions unless otherwise stated  2020  2019  2018 
CONTINUING OPERATIONS          
Revenue  3,892.1  2,967.1  2,577.8 
Cost of sales  (2,150.4) (2,033.5) (2,043.0)
Investment income  8.7  7.3  7.8 
Finance expense  (126.7) (102.2) (88.0)
(Loss)/gain on financial instruments  (238.9) (238.0) 21.0 
Foreign exchange gain/(loss) 8.6  (5.2) 6.4 
Other costs, net  (11.5) (67.6) (44.8)
Share-based payments  (14.5) (20.5) (37.5)
Long-term incentive plan  (51.3) (9.1) (1.1)
Exploration expense  (49.7) (84.4) (104.2)
Share of results of equity accounted investees, net of taxation  (2.6) 3.1  (13.1)
Profit on disposal of Maverix Metals Incorporated  –  14.6  – 
Restructuring costs  (2.0) (0.6) (113.9)
Silicosis settlement costs  (0.3) 1.6  4.5 
Gain on acquisition of Asanko  –  –  51.8 
Impairment, net of reversal of impairment of investments and assets  50.6  (9.8) (520.3)
Tarkwa expected credit loss  (29.0) –  – 
(Loss)/profit on disposal of assets  (0.2) 1.2  (51.6)
Profit/(loss) before royalties and taxation  1,282.9  424.0  (348.2)
Royalties  (105.0) (73.7) (62.5)
Profit/(loss) before taxation  1,177.9  350.3  (410.7)
Mining and income taxation  (432.5) (175.6) 65.9 
Profit/(loss) for the year  745.4  174.7  (344.8)
Profit/(loss) attributable to: 
– Owners of the parent  723.0  161.6  (348.2)
– Non-controlling interests  22.4  13.1  3.4 
   745.4  174.7  (344.8)
Earnings/(loss) per share attributable to owners of the parent:          
Basic earnings/(loss) per share – cents  82  20  (42)
Diluted earnings/(loss) per share – cents  81  19  (42)

Consolidated statement of financial position

for the year ended 31 December 2020

United States Dollar
Figures in millions unless otherwise stated  2020    2019 
ASSETS     
Non-current assets  5,713.0    5,460.2 
Property, plant and equipment  4,771.2    4,657.1 
Inventories  141.5    141.0 
Equity accounted investees  233.3    172.0 
Investments  147.9    155.1 
Environmental trust funds  79.3    69.5 
Loan advanced – contractor  68.4    – 
Non-current derivative financial assets 31.4    – 
Deferred taxation  240.0    265.5 
Current assets  1,730.4    1,069.9 
Inventories  521.6    417.8 
Trade and other receivables  240.1    136.0 
Derivative financial assets 81.9    1.1 
Cash and cash equivalents  886.8    515.0 
Assets held for sale  29.4    31.2 
Total assets  7,472.8    6,561.3 
EQUITY AND LIABILITIES 
Equity attributable to owners of the parent  3,664.5    2,777.0 
Stated capital  3,871.5    3,622.5 
Other reserves  (1,962.6)   (2,035.5)
Retained earnings  1,755.6    1,190.0 
Non-controlling interests  163.7    131.7 
Total equity  3,828.2    2,908.7 
Non-current liabilities  2,728.1    2,284.8 
Deferred taxation  499.9    433.6 
Borrowings  1,443.4    1,160.9 
Provisions  379.3    391.1 
Lease liabilities  364.8    287.7 
Long-term incentive plan  33.4    11.5 
Non-current derivative financial liabilities  7.3    – 
Current liabilities  916.5    1,367.8 
Trade and other payables  550.6    466.8 
Derivative financial liabilities  21.8    127.6 
Royalties payable  17.7    13.9 
Taxation payable  121.3    24.8 
Current portion of borrowings  83.5    684.9 
Current portion of lease liabilities  64.2    45.2 
Current portion of provisions  23.6    4.6 
Current portion of long-term incentive plan  33.8    – 
Total liabilities  3,644.6    3,652.6 
Total equity and liabilities  7,472.8    6,561.3 

Consolidated statement of cash-flows

for the year ended 31 December 2020

United States Dollar
Figures in millions unless otherwise stated  2020    2019    2018 
Cash-flows from operating activities  1,111.4    845.0    568.7 
Cash generated by operations  1,933.9    1,302.8    998.0 
Interest received  7.6    6.6    6.8 
Change in working capital  (171.8)   (24.6)   (31.9)
Cash generated by operating activities  1,769.7    1,284.8    972.9 
Silicosis payment  (3.5)   (4.6)   – 
Interest paid  (127.2)   (132.0)   (91.0)
Royalties paid  (102.5)   (72.3)   (65.5)
Taxation paid  (278.7)   (181.8)   (190.7)
Net cash from operations  1,257.8    894.1    625.7 
Dividends paid  (146.4)   (49.1)   (57.0)
– Owners of the parent  (137.7)   (45.5)   (45.5)
– Non-controlling interest holders  (7.6)   (2.2)   (9.8)
– South Deep BEE dividend  (1.1)   (1.4)   (1.7)
Cash-flows from investing activities  (607.4)   (446.8)   (886.8)
Additions to property, plant and equipment  (583.7)   (612.5)   (814.2)
Capital expenditure – working capital  (7.1)   –    – 
Proceeds on disposal of property, plant and equipment  0.7    3.7    78.9 
Purchase of Asanko Gold  –    (20.0)   (165.0)
Purchase of investments  (0.6)   (6.5)   (19.3)
Redemption of Asanko Preference Shares  37.5    10.0    – 
Proceeds on disposal of subsidiary  –    6.2    – 
Proceeds on disposal of Maverix  –    66.8    – 
Proceeds on disposal of investments  22.9    112.6    0.5 
Loan advanced – contractors  (68.4)   –  – 
Proceeds on disposal of Arctic Platinum  –    –    40.0 
Contributions to environmental trust funds  (8.7)   (7.1)   (7.7)
Cash-flows from financing activities  (139.8)   (104.6)   151.6 
Loans raised  689.8    1,538.0    690.0 
Loans repaid  (1,014.2)   (1,604.3)   (535.9)
Payment of lease liabilities  (64.4)   (38.3)   (2.5)
Proceeds from the issue of shares  249.0   
Net cash generated/(utilised) 364.2    293.6    (166.5)
Effect of exchange rate fluctuation on cash held  7.6    1.7    (7.6)
Cash and cash equivalents at beginning of the year  515.0    219.7    393.8 
Cash and cash equivalents at end of the year  886.8    515.0    219.7 
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