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Segment report

Financial summary – Rand million

  INCOME STATEMENT   South Africa   Ghana  
  for the year ended               South          
  30 June 2010   Driefontein   Kloof   Beatrix   Deep1   Tarkwa   Damang  
  Revenue   5,843.6   4,648.1   3,218.7   2,188.5   5,988.9   1,719.6  
  Operating costs   (3,832.1)   (3,424.3)   (2,272.9)   (1,674.6)   (2,933.4)   (990.5)  
  Gold inventory change           86.6   (15.9)  
  Operating profit   2,011.5   1,223.8   945.8   513.9   3,142.1   713.2  
  Amortisation and depreciation   (621.7)   (800.3)   (541.6)   (452.5)   (841.7)   (130.0)  
  Net operating profit   1,389.8   423.5   404.2   61.4   2,300.4   583.2  
  Other (expenditure)/ income   (194.1)   (180.1)   (61.4)   (148.4)   (81.4)   (28.8)  
  Investment income   119.5   80.7   15.9   4.9   2.4   4.1  
  Finance expense   (16.8)   (6.8)   (3.2)   (44.2)   (3.5)   (0.4)  
  Current taxation   (247.0)   (28.3)   (7.5)   (4.0)   (532.7)   (214.5)  
  Deferred taxation   (200.9)   (116.5)   (141.1)   49.3   (260.7)   4.1  
 
Profit/(loss) for the year
  850.5   172.5   206.9   (81.0)   1,424.5   347.7  
  Profit attributable to:                          
  – Owners of the parent   850.5   172.5   206.9   (81.0)   1,012.8   247.2  
  – Non-controlling interest           411.7   100.5  
                             
  STATEMENT OF FIN ANCIAL                          
  POSITION as at 30 June 2010                          
  Total assets   8,148.8   5,005.9   1,063.3   998.9   8,016.7   1,343.0  
  Total liabilities (excluding                          
  deferred taxation)   2,325.6   1,081.3   (870.0)   596.9   1,094.6   278.0  
  Deferred taxation   1,995.1   1,793.3   813.9     1,362.4   129.3  
 
Capital expenditure
  1,139.6   1,104.4   650.6   1,613.3   1,126.3   226.1  

  INCOME STATEMENT   South Africa   Ghana  
  for the year ended               South          
  30 June 2009   Driefontein   Kloof   Beatrix   Deep1   Tarkwa   Damang  
  Revenue   6,545.9   5,066.3   3,055.2   1,398.1   4,840.3   1,582.7  
  Operating costs   (3,530.5)   (3,083.8)   (2,037.6)   (1,188.0)   (3,046.5)   (1,193.3)  
  Gold inventory change           162.5   20.8  
  Operating profit   3,015.4   1,982.5   1,017.6   210.1   1,956.3   410.2  
  Amortisation and depreciation   (624.9)   (692.7)   (435.2)   (283.2)   (495.3)   (169.4)  
  Net operating profit   2,390.5   1,289.8   582.4   (73.1)   1,461.0   240.8  
  Other income/(expenditure)   (89.8)   (43.4)   (73.6)   51.8   (118.4)   (87.6)  
  Investment income   73.7   71.6   20.1   4.3     0.6  
  Finance expense   (173.5)   (181.5)   (10.0)   (1.1)   (10.2)   (0.2)  
  Current taxation   (603.2)   (254.0)   (0.9)     (145.2)   (74.7)  
  Deferred taxation   (176.4)   (109.7)   (196.2)   7.2   (286.5)   2.5  
  Profit/(loss) for the year   1,421.3   772.8   321.8   (10.9)   900.7   81.4  
  Profit attributable to:                          
  – Owners of the parent   1,421.3   772.8   321.8   (10.9)   640.4   57.9  
  – Non-controlling interest           260.3   23.5  
                             
  STATEMENT OF FINANCIAL                          
  POSITION as at 30 June 2009                          
  Total assets   7,801.8   5,847.1   2,113.4   1,183.0   7,570.6   1,230.0  
  Total liabilities (excluding                          
  deferred taxation)   2,614.6   1,812.9   559.0   674.8   1,329.6   232.1  
  Deferred taxation   1,794.2   1,676.7   672.9     1,173.5   142.1  
 
Capital expenditure
  1,034.4   958.6   629.4   1,020.5   1,812.0   152.1  

Financial summary – Rand million

  INCOME STATEMENT Peru   Australia       Group  
  for the year ended Cerro   St Ives/   Corporate   consoli-  
  30 June 2010 Corona   Agnew   and other2   dation  
  Revenue 3,118.6   4,839.3     31,565.3  
  Operating costs (1,024.2)   (3,018.3)     (19,170.3)  
  Gold inventory change 10.2   97.3     178.2  
  Operating profit 2,104.6   1,918.3     12,573.2  
  Amortisation and depreciation (419.1)   (885.4)   (145.0)   (4,837.3)  
  Net operating profit 1,685.5   1,032.9   (145.0)   7,735.9  
  Other (expenditure)/ income (361.9)   (51.8)   715.73   (392.2)  
  Investment income   24.8   52.4   304.7  
  Finance expense (41.9)   (17.1)   (358.8)   (492.7)  
  Current taxation (388.4)   (125.3)   (226.4)   (1,774.1)  
  Deferred taxation (204.6)   (263.0)   26.3   (1,107.1)  
 
Profit/(loss) for the year
688.7   600.5   64.2   4,274.5  
  Profit attributable to:                
  – Owners of the parent 555.8   600.5   66.2   3,631.4  
  – Non-controlling interest 132.9     (2.0)   643.1  
                   
  STATEMENT OF FIN ANCIAL                
  POSITION as at 30 June 2010                
  Total assets 6,706.7   8,195.2   28,861.7   68,340.2  
  Total liabilities (excluding                
  deferred taxation) 1,650.2   1,195.5   8,396.5   15,748.6  
  Deferred taxation 252.3   1,046.2   (249.8)   7,142.7  
 
Capital expenditure
648.8   1,198.8   34.4   7,742.3  

  INCOME STATEMENT Peru   Australia       Group  
  STATEMENT OF FIN ANCIAL                
  POSITION as at 30 June 2010                
  Total assets 6,706.7   8,195.2   28,861.7   68,340.2  
  Total liabilities (excluding                
  deferred taxation) 1,650.2   1,195.5   8,396.5   15,748.6  
  Deferred taxation 252.3   1,046.2   (249.8)   7,142.7  
 
Capital expenditure
648.8   1,198.8   34.4   7,742.3  
                   
  INCOME STATEMENT Peru   Australia       Group  
  for the year ended Cerro   St Ives/   Corporate   consoli-  
  30 June 2009 Corona   Agnew   and other2   dation  
  Revenue 1,656.4   4,942.0     29,086.9  
  Operating costs (778.7)   (2,975.5)     (17,833.9)  
  Gold inventory change 37.0   (10.0)     210.3  
  Operating profit 914.7   1,956.5     11,463.3  
  Amortisation and depreciation (350.7)   (945.3)   (145.6)   (4,142.3)  
  Net operating profit 564.0   1,011.2   (145.6)   7,321.0  
  Other income/(expenditure) (134.1)   2.9   (1,973.2)3   (2,465.4)  
  Investment income 0.8   17.9   35.8   224.8  
  Finance expense (26.8)   (17.3)   (452.2)   (872.8)  
  Current taxation (145.4)   (189.3)   (145.7)   (1,558.4)  
  Deferred taxation (29.5)   (196.5)   190.0   (795.1)  
  Profit/(loss) for the year 229.0   628.9   (2,490.9)   1,854.1  
  Profit attributable to:                
  – Owners of the parent 184.8   628.9   (2,481.4)   1,535.6  
  – Non-controlling interest 44.2     (9.5)   318.5  
                   
  STATEMENT OF FINANCIAL                
  POSITION as at 30 June 2009                
  Total assets 6,616.7   7,034.1   25,857.9   65,254.6  
  Total liabilities (excluding                
  deferred taxation) 2,213.7   1,027.0   5,992.7   16,456.4  
  Deferred taxation 51.0   770.1   (151.7)   6,128.8  
 
Capital expenditure
1,052.2   897.3   92.7   7,649.2  

  The above is a geographical analysis presented by location of assets.  
  The Group is primarily involved in gold mining, exploration and related activities. Activities are conducted and investments held both inside and outside South Africa. The segment results have been prepared and presented based on management’s reporting format. The Group’s gold mining operations are management and internally reported based on the following geographical areas: in South Africa the Driefontein division, the Kloof division, the Beatrix division and the South Deep Mine, in Ghana the Tarkwa and Damang Mines, Australia and Peru. The Group also has exploration interests which are included in the “Corporate and other” segment. (Refer to accounting policy on segment reporting on page 193.)  
  1 The income statement and statement of financial position of South Deep is that of the operating mine and does not include any of the adjustments made in respect of the purchase price allocation. South Deep Gold Mine, being an unincorporated joint venture, is not liable for taxation. Taxation included in South Deep is indicative, as tax is provided in the holding company at a rate of 40%.  
  2 “Corporate and other” represents the items to reconcile segment data to consolidated financial statement totals. Included in “Corporate and other” is goodwill relating to the acquisition of South Deep.  
  3 Other expenditure “Corporate and other” comprises share-based payments of R184.1m (2009: R150.8m), exploration expenses of R577.0m (2009: R508.3m), share of gains of associate after taxation of R118.3m (2009: R141.3m loss), impairment of investments of R257.8m (2009: R1,209.5m), profit on disposal of investments of R846.9m (2009: R148.0m loss), realised gain on financial instruments (Eldorado top-up shares) of R402.1m and the balance of R367.3m (2009: R184.7m) income consists mainly of corporate-related cost recoveries.  

Financial summary – US$ million

  INCOME STATEMENT South Africa   Ghana  
  for the year ended             South          
  30 June 2010 Driefontein   Kloof   Beatrix   Deep1   Tarkwa   Damang  
  Revenue 770.9   613.2   424.7   288.7   790.1   226.9  
  Operating costs (505.6)   (451.8)   (299.9)   (220.9)   (387.0)   (130.7)  
  Gold inventory change         11.4   (2.1)  
  Operating profit 265.3   161.4   124.8   67.8   414.5   94.1  
  Amortisation and depreciation (82.0)   (105.6)   (71.5)   (59.7)   (111.0)   (17.2)  
  Net operating profit 183.3   55.8   53.3   8.1   303.5   76.9  
  Other income/(expenditure) (25.6)   (23.8)   (8.1)   (19.6)   (10.7)   (3.8)  
  Investment income 15.8   10.6   2.1   0.6   0.3   0.6  
  Finance expense (2.2)   (0.9)   (0.4)   (5.8)   (0.5)   (0.1)  
  Current taxation (32.6)   (3.7)   (1.0)   (0.5)   (70.3)   (28.3)  
  Deferred taxation (26.5)   (15.4)   (18.6)   6.5   (34.4)   0.5  
 
Profit/(loss) for the year
112.2   22.6   27.3   (10.7)   187.9   45.8  
  Profit attributable to:                        
  – Owners of the parent 112.2   22.6   27.3   (10.7)   133.6   32.5  
  – Non-controlling interest         54.3   13.3  
                           
  STATEMENT OF FINANCIAL                        
  POSITION as at 30 June 2010                        
  Total assets 1,076.5   661.3   140.5   132.0   1,059.0   177.4  
  Total liabilities (excluding                        
  deferred taxation) 307.2   142.8   (114.9)   78.9   144.6   36.7  
  Deferred taxation 263.6   236.9   107.5     180.0   17.1  
 
Capital expenditure
150.3   145.7   85.8   212.8   148.6   29.8  

  INCOME STATEMENT South Africa   Ghana  
  for the year ended             South          
  30 June 2009 Driefontein   Kloof   Beatrix   Deep1   Tarkwa   Damang  
  Revenue 726.5   562.3   339.1   155.2   537.2   175.7  
  Operating costs (391.8)   (342.3)   (226.2)   (131.9)   (338.1)   (132.4)  
  Gold inventory change         18.0   2.3  
  Operating profit 334.7   220.0   112.9   23.3   217.1   45.6  
  Amortisation and depreciation (69.4)   (76.9)   (48.3)   (31.4)   (55.0)   (18.8)  
  Net operating profit 265.3   143.1   64.6   (8.1)   162.1   26.8  
  Other income/(expenditure) (10.0)   (4.8)   (8.2)   5.7   (13.1)   (9.7)  
  Investment income 8.2   7.9   2.2   0.5     0.2  
  Finance expense (19.3)   (20.1)   (1.1)   (0.1)   (1.1)    
  Current taxation (66.9)   (28.2)   (0.1)     (16.1)   (8.3)  
  Deferred taxation (19.6)   (12.2)   (21.8)   0.8   (31.8)   0.3  
 
Profit/(loss) for the year
157.7   85.7   35.6   (1.2)   100.0   9.3  
  Profit attributable to:                        
  – Owners of the parent 157.7   85.7   35.6   (1.2)   71.1   6.7  
  – Non-controlling interest         28.9   2.6  
                           
  STATEMENT OF FINANCIAL                        
  POSITION as at 30 June 2009                        
  Total assets 968.0   725.4   262.2   146.9   939.3   152.6  
  Total liabilities (excluding                        
  deferred taxation) 324.4   224.9   69.4   83.7   165.0   28.8  
  Deferred taxation 222.6   208.0   83.5     145.6   17.6  
 
Capital expenditure
114.8   106.4   69.9   113.3   201.1   16.9  

Financial summary – US$ million

  INCOME STATEMENT Peru   Australia       Group  
  for the year ended Cerro   St Ives/   Corporate   consoli-  
  30 June 2010 Corona   Agnew   and other2   dation  
  Revenue 411.4   638.4     4,164.3  
  Operating costs (135.0)   (398.2)     (2,529.1)  
  Gold inventory change 1.3   12.9     23.5  
  Operating profit 277.7   253.1     1,658.7  
  Amortisation and depreciation (55.3)   (116.8)   (19.1)   (638.2)  
  Net operating profit 222.4   136.3   (19.1)   1,020.5  
  Other income/(expenditure) (47.7)   (6.8)   94.33   (51.8)  
  Investment income   3.3   6.9   40.2  
  Finance expense (5.5)   (2.3)   (47.3)   (65.0)  
  Current taxation (51.2)   (16.5)   (29.9)   (234.0)  
  Deferred taxation (27.0)   (34.7)   3.5   (146.1)  
 
Profit/(loss) for the year
91.0   79.3   8.4   563.8  
  Profit attributable to:                
  – Owners of the parent 73.5   79.3   8.7   479.0  
  – Non-controlling interest 17.5     (0.3)   84.8  
                   
  STATEMENT OF FINANCIAL                
  POSITION as at 30 June 2010                
  Total assets 886.0   1,082.6   3,812.6   9,027.8  
  Total liabilities (excluding                
  deferred taxation) 218.0   157.9   1,109.2   2,080.4  
  Deferred taxation 33.3   138.2   (33.0)   943.6  
 
Capital expenditure
85.6   158.2   4.5   1,021.3  

  INCOME STATEMENT Peru   Australia       Group  
  for the year ended Cerro   St Ives/   Corporate   consoli-  
  30 June 2009 Corona   Agnew   and other2   dation  
  Revenue 183.8   548.5     3,228.3  
  Operating costs (86.4)   (330.2)     (1,979.3)  
  Gold inventory change 4.1   (1.1)     23.3  
  Operating profit 101.5   217.2     1,272.3  
  Amortisation and depreciation (38.9)   (104.9)   (16.1)   (459.7)  
  Net operating profit 62.6   112.3   (16.1)   812.6  
  Other income/(expenditure) (14.9)   0.3   (219.0)3   (273.7)  
  Investment income 0.1   2.0   3.8   24.9  
  Finance expense (3.0)   (1.9)   (50.3)   (96.9)  
  Current taxation (16.1)   (21.0)   (16.2)   (172.9)  
  Deferred taxation (3.3)   (21.8)   21.1   (88.3)  
 
Profit/(loss) for the year
25.4   69.9   (276.7)   205.7  
  Profit attributable to:                
  – Owners of the parent 20.5   69.9   (275.6)   170.4  
  – Non-controlling interest 4.9     (1.1)   35.3  
                   
  STATEMENT OF FINANCIAL                
  POSITION as at 30 June 2009                
  Total assets 820.9   872.7   3,208.2   8,096.2  
  Total liabilities (excluding                
  deferred taxation) 274.7   127.4   743.5   2,041.8  
  Deferred taxation 6.3   95.5   (18.8)   760.3  
 
Capital expenditure
116.8   99.6   10.3   849.0  

  The above is a geographical analysis presented by location of assets.  
  The Group is primarily involved in gold mining, exploration and related activities. Activities are conducted and investments held both inside and outside South Africa. The segment results have been prepared and presented based on management’s reporting format. The Group’s gold mining operations are management and internally reported based on the following geographical areas: in South Africa the Driefontein division, the Kloof division, the Beatrix division and the South Deep Mine, in Ghana the Tarkwa and Damang Mines, Australia and Peru. The Group also has exploration interests which are included in the “Corporate and other” segment. (Refer to accounting policy on segment reporting on page 193.)  
  US dollar figures may not add as they are rounded independently.  
  Year-end exchange rates ZAR/US$7.57 and ZAR/US$8.06 for F2010 and F2009 respectively.  
  Average exchange rates ZAR/US$7.58 and ZAR/US$9.01 for F2010 and F2009 respectively  
  1 The income statement and statement of financial position of South Deep is that of the operating mine and does not include any of the adjustments made in respect of the purchase price allocation. South Deep Gold Mine, being an unincorporated joint venture, is not liable for taxation. Taxation included in South Deep is indicative, as tax is provided in the holding company at a rate of 40%.  
  2 “Corporate and other” represents the items to reconcile segment data to consolidated financial statement totals. Included in “Corporate and other” is goodwill relating to the acquisition of South Deep.  
  3 Other expenditure “Corporate and other” comprises share-based payments of US$24.3m (2009: US$16.7m), exploration expenses of US$76.1m (2009: US$56.4m), share of gains of associate after taxation of US$15.6m (2009: US$15.7m loss), impairment of investments of US$34.0m (2009: US$134.2m), profit on disposal of investments of US$111.8m (2009: US$16.4m loss), realised gain on financial instrument (Eldorado top-up shares) of US$53.0m and the balance of US$48.4m (2009: US$20.4m) income consists mainly of corporate-related cost recoveries.