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|
| F2009 FINANCIAL HIGHLIGHTS
F2009 salient features
 |
Record safety improvement; |
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Attributable gold production of 3.4 million ounces; |
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Total cash costs of US$516 per ounce; |
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Notional cash expenditure of US$763 per ounce; |
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Operating margin of 39 per cent; |
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Successful completion of critical infrastructure rehabilitation and secondary support backlog at South African operations; |
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Completed construction of Cerro Corona Mine in Peru and CIL plant expansion at Tarkwa in Ghana; |
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South Deep remodelled and appropriately resourced to achieve F2010 target of 300,000 ounces of gold; |
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Commenced construction of Athena, the fourth underground mine at St Ives in Australia; and |
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Three advanced stage exploration projects underway. |
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|
|
|
|
Headline earnings per share
South African cents |
|
Operating profit
Rand million |
|
Attributable gold production
’000 ounces |
 |
|
 |
|
 |
Operating summary1
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Salient features |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Gold produced – attributable |
kg |
|
106,186 |
|
113,154 |
|
123,534 |
|
126,712 |
|
131,284 |
|
| |
|
’000oz |
|
3,414 |
|
3,638 |
|
3,972 |
|
4,074 |
|
4,219 |
|
| |
Total cash cost |
R/kg |
|
149,398 |
|
111,315 |
|
86,623 |
|
67,988 |
|
66,041 |
|
| |
|
US$/oz |
|
516 |
|
476 |
|
374 |
|
330 |
|
331 |
|
| |
Notional cash expenditure |
R/kg |
|
221,153 |
|
186,088 |
|
135,666 |
|
89,961 |
|
83,569 |
|
| |
|
US$/oz |
|
763 |
|
796 |
|
585 |
|
437 |
|
419 |
|
| |
Gold price |
R/kg |
|
253,459 |
|
190,623 |
|
147,595 |
|
107,918 |
|
84,218 |
|
| |
|
US$/oz |
|
875 |
|
816 |
|
638 |
|
524 |
|
422 |
|
| |
Operating profit |
Rm |
|
11,463 |
|
9,041 |
|
7,740 |
|
5,139 |
|
2,286 |
|
| |
Operating margin |
per cent |
|
39 |
|
39 |
|
40 |
|
35 |
|
19 |
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Financial summary1
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Revenue |
|
|
29,087 |
|
23,010 |
|
19,434 |
|
14,605 |
|
11,756 |
|
| |
Basic earnings – cents per share |
|
|
229 |
|
683 |
|
423 |
|
313 |
|
26 |
|
| |
Headline earnings – cents per share |
|
|
431 |
|
459 |
|
392 |
|
303 |
|
49 |
|
| |
Dividends declared – cents per share |
|
|
110 |
|
185 |
|
185 |
|
150 |
|
70 |
|
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Total assets |
|
|
65,254.6 |
|
62,915.5 |
|
53,925.0 |
|
31,635.2 |
|
23,997.4 |
|
| |
Shareholders’ equity |
|
|
42,669.4 |
|
42,561.2 |
|
37,106.3 |
|
20,001.5 |
|
16,534.1 |
|
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Cash and cash equivalents |
|
|
2,803.9 |
|
2,007.3 |
|
2,310.1 |
|
1,617.5 |
|
3,375.0 |
|
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Cash flows from operating activities2 |
|
|
6,000.8 |
|
6,692.1 |
|
1,201.4 |
|
3,804.8 |
|
1,336.4 |
|
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Cash generated/(utilised) |
|
|
804.1 |
|
(478.0) |
|
693.4 |
|
(1,781.6) |
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(919.9) |
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Market and ratio analysis
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Debt leverage |
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|
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|
|
|
|
|
|
|
|
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Net debt: EBITDA |
|
0.53 |
|
0.55 |
|
0.59 |
|
0.14 |
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(0.84) |
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Other |
|
|
|
|
|
|
|
|
|
|
|
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Net asset value per share (Rand) |
|
60.55 |
|
65.16 |
|
56.90 |
|
40.42 |
|
33.59 |
|
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Dividend payout ratio (per cent) |
|
48 |
|
27 |
|
44 |
|
48 |
|
2693 |
|
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Exchange rates |
|
|
|
|
|
|
|
|
|
|
|
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Average rate US$1 = R |
|
9.01 |
|
7.27 |
|
7.20 |
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6.40 |
|
6.21 |
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Closing rate US$1 = R |
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8.06 |
|
8.00 |
|
7.15 |
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7.43 |
|
6.70 |
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Share price performance |
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|
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Ordinary shares (Rand) |
|
|
|
|
|
|
|
|
|
|
|
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- high |
|
123.50 |
|
135.00 |
|
173.80 |
|
164.00 |
|
101.01 |
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- low |
|
54.00 |
|
87.01 |
|
109.40 |
|
68.02 |
|
54.50 |
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- year end |
|
93.52 |
|
99.50 |
|
109.40 |
|
162.00 |
|
76.20 |
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Average daily volume of shares traded ('000) |
|
3,047 |
|
2,903 |
|
2,581 |
|
2,073 |
|
1,356 |
|
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American Depository Receipts (US$) |
|
|
|
|
|
|
|
|
|
|
|
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- high |
|
13.99 |
|
19.60 |
|
24.48 |
|
26.95 |
|
15.25 |
|
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- low |
|
4.64 |
|
10.66 |
|
15.48 |
|
10.59 |
|
9.13 |
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- year end |
|
12.05 |
|
12.65 |
|
15.70 |
|
22.90 |
|
11.35 |
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Average daily volume of shares traded ('000) |
|
7,635 |
|
6,368 |
|
3,141 |
|
2,289 |
|
1,557 |
|
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Number of shares in issue ('000) |
|
704,750 |
|
653,201 |
|
652,158 |
|
494,825 |
|
492,294 |
|
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Market capitalisation at year end (Rm) |
|
65,908 |
|
64,993 |
|
71,346 |
|
80,162 |
|
37,513 |
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1.
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Figures are based on last published and audited Annual Financial Statements. |
2.
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Cash fl ows from operating activities in F2007 impacted by buy-back of Western Areas Limited hedge book. |
3.
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The 269 per cent dividend payout ratio in 2005 was as a result of earnings per share of R0.26 and a dividend of R0.70. |
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