| 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 | ||