Segmental operating and financial results
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United States Dollars |
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Figures in millions
unless otherwise stated |
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| Operating Results |
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|
Six months to June 2019 |
|
17,915 |
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|
16,746 |
|
|
540 |
|
|
10,372 |
6,886 |
2,317 |
1,169 |
|
|
3,348 |
|
| Ore milled/treatedΔ (000 tonnes) |
|
|
Six months to Dec 2018 |
|
17,424 |
|
|
16,480 |
|
|
520 |
|
|
9,900 |
6,907 |
2,049 |
944 |
|
|
3,314 |
|
| |
|
|
Six months to June 2018 |
|
16,686 |
|
|
16,686 |
|
|
800 |
|
|
9,040 |
6,884 |
2,156 |
– |
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|
3,330 |
|
| YieldΔ (grams per tonne) |
|
|
Six months to June 2019 |
|
1.9 |
|
|
2.0 |
|
|
5.3 |
|
|
1.3 |
1.2 |
1.5 |
1.5 |
|
|
1.5 |
|
| |
|
|
Six months to Dec 2018 |
|
1.9 |
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|
1.9 |
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|
3.6 |
|
|
1.2 |
1.2 |
1.4 |
1.5 |
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|
1.7 |
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| |
|
|
Six months to June 2018 |
|
1.9 |
|
|
1.9 |
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|
3.8 |
|
|
1.2 |
1.2 |
1.3 |
– |
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|
1.3 |
|
| Gold produced |
|
|
Six months to June 2019 |
|
1,121.5 |
|
|
1,066.3 |
|
|
91.7 |
|
|
437.8 |
270.9 |
111.8 |
55.1 |
|
|
157.1 |
|
| (000 managed equivalent ounces) |
|
|
Six months to Dec 2018 |
|
1,077.4 |
|
|
1,032.8 |
|
|
60.6 |
|
|
396.3 |
260.5 |
91.3 |
44.5 |
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|
176.5 |
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| |
|
|
Six months to June 2018 |
|
1,030.4 |
|
|
1,030.4 |
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|
96.5 |
|
|
353.9 |
264.4 |
89.5 |
– |
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|
137.6 |
|
| Gold sold |
|
|
Six months to June 2019 |
|
1,115.7 |
|
|
1,061.8 |
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|
90.1 |
|
|
436.6 |
270.9 |
111.8 |
53.9 |
|
|
156.4 |
|
| (000 managed equivalent ounces) |
|
|
Six months to Dec 2018 |
|
1,070.5 |
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|
1,024.6 |
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|
63.6 |
|
|
397.7 |
260.5 |
91.3 |
45.9 |
|
|
167.4 |
|
| |
|
|
Six months to June 2018 |
|
1,034.0 |
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|
1,034.0 |
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|
104.2 |
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353.9 |
264.4 |
89.5 |
– |
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131.7 |
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| Gold price received |
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Six months to June 2019 |
|
1,297 |
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|
1,298 |
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|
1,314 |
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1,300 |
1,304 |
1,303 |
1,275 |
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|
1,268 |
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| (dollar per equivalent ounce) |
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|
Six months to Dec 2018 |
|
1,198 |
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|
1,198 |
|
|
1,148 |
|
|
1,218 |
1,222 |
1,219 |
1,196 |
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|
1,131 |
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| |
|
|
Six months to June 2018 |
|
1,306 |
|
|
1,306 |
|
|
1,316 |
|
|
1,318 |
1,318 |
1,315 |
– |
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|
1,228 |
|
| Cost of sales before gold inventory |
|
|
Six months to June 2019 |
|
41 |
|
|
42 |
|
|
219 |
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|
27 |
25 |
28 |
36 |
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|
24 |
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| change and amortisation and |
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|
Six months to Dec 2018 |
|
42 |
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|
42 |
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|
214 |
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|
28 |
23 |
37 |
44 |
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|
25 |
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| depreciation (dollar per tonne) |
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|
Six months to June 2018 |
|
42 |
|
|
42 |
|
|
188 |
|
|
23 |
20 |
32 |
– |
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|
23 |
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| All-in-sustaining costs |
|
|
Six months to June 2019 |
|
960 |
|
|
949 |
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|
1,529 |
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|
892 |
940 |
652 |
1,155 |
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|
290 |
|
| (dollar per ounce) original |
|
|
Six months to Dec 2018 |
|
987 |
|
|
983 |
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|
2,239 |
|
|
927 |
948 |
796 |
1,069 |
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|
340 |
|
| interpretation |
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|
Six months to June 2018 |
|
954 |
|
|
954 |
|
|
1,699 |
|
|
924 |
954 |
829 |
– |
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|
197 |
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| All-in-sustaining costs |
|
|
Six months to June 2019 |
|
877 |
|
|
862 |
|
|
1,529 |
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|
892 |
940 |
652 |
1,155 |
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|
264 |
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| (dollar per ounce) revised |
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| interpretation |
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| Total all-in-cost |
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|
Six months to June 2019 |
|
1,070# |
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|
1,061# |
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|
1,529 |
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|
1,007 |
940 |
1,061 |
1,235 |
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|
290 |
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| (dollar per ounce) |
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|
Six months to Dec 2018 |
|
1,126# |
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|
1,123# |
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|
2,335 |
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|
1,084 |
948 |
1,428 |
1,175 |
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|
340 |
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| |
|
|
Six months to June 2018 |
|
1,106# |
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|
1,106# |
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|
1,816 |
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|
1,114 |
954 |
1,585 |
– |
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|
197 |
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| Financial Results ($ millions) |
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| Revenue |
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Six months to June 2019 |
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1,447.4 |
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1,378.7 |
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118.4 |
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567.7 |
353.4 |
145.6 |
68.7 |
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198.3 |
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Six months to Dec 2018 |
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1,282.0 |
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1,227.1 |
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73.0 |
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484.5 |
318.3 |
111.3 |
54.9 |
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189.4 |
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Six months to June 2018 |
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1,350.7 |
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1,350.7 |
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|
137.1 |
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|
466.3 |
348.6 |
117.7 |
– |
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|
161.6 |
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| Cost of sales before |
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|
Six months to June 2019 |
|
(736.9) |
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|
(694.8) |
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(117.4) |
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|
(258.1) |
(157.2) |
(58.8) |
(42.1) |
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|
(81.1) |
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| amortisation and depreciation |
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Six months to Dec 2018 |
|
(724.5) |
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|
(687.1) |
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(118.1) |
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(257.7) |
(158.6) |
(61.7) |
(37.4) |
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|
(77.2) |
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| |
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Six months to June 2018 |
|
(688.1) |
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|
(688.1) |
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|
(153.6) |
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|
(212.9) |
(150.2) |
(62.7) |
– |
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|
(77.6) |
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| Cost of sales before gold inventory |
|
|
Six months to June 2019 |
|
(743.0) |
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|
(700.3) |
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|
(118.5) |
|
|
(278.4) |
(170.3) |
(65.5) |
(42.6) |
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|
(81.2) |
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| change and amortisation and |
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Six months to Dec 2018 |
|
(729.8) |
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|
(688.2) |
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(111.3) |
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|
(276.9) |
(159.8) |
(75.5) |
(41.6) |
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|
(82.9) |
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| depreciation |
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Six months to June 2018 |
|
(703.2) |
|
|
(703.2) |
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|
(150.7) |
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|
(206.9) |
(138.9) |
(68.0) |
– |
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|
(77.4) |
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| – Gold inventory change |
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|
Six months to June 2019 |
|
6.1 |
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|
5.6 |
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|
1.2 |
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|
20.3 |
13.1 |
6.8 |
0.5 |
|
|
– |
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| |
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Six months to Dec 2018 |
|
5.3 |
|
|
1.1 |
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|
(6.7) |
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|
19.3 |
1.2 |
13.8 |
4.2 |
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5.6 |
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Six months to June 2018 |
|
15.1 |
|
|
15.1 |
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|
(2.9) |
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|
(6.1) |
(11.3) |
5.3 |
– |
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(0.1) |
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| Amortisation of mining assets |
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|
Six months to June 2019 |
|
(305.0) |
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|
(287.0) |
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|
(16.8) |
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|
(138.6) |
(90.7) |
(29.8) |
(18.1) |
|
|
(46.0) |
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| |
|
|
Six months to Dec 2018 |
|
(335.4) |
|
|
(319.8) |
|
|
(21.0) |
|
|
(153.4) |
(83.2) |
(54.7) |
(15.5) |
|
|
(48.7) |
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| |
|
|
Six months to June 2018 |
|
(344.9) |
|
|
(344.9) |
|
|
(27.9) |
|
|
(130.3) |
(85.1) |
(45.2) |
– |
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|
(33.1) |
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| Other expenses |
|
|
Six months to June 2019 |
|
(97.9) |
|
|
(93.5) |
|
|
(17.3) |
|
|
(31.6) |
(16.6) |
(10.6) |
(4.4) |
|
|
(10.8) |
|
| |
|
|
Six months to Dec 2018 |
|
(26.4) |
|
|
(26.1) |
|
|
(9.1) |
|
|
(4.0) |
(0.1) |
(3.5) |
(0.3) |
|
|
(4.6) |
|
| |
|
|
Six months to June 2018 |
|
(36.5) |
|
|
(36.5) |
|
|
(10.4) |
|
|
5.4 |
5.8 |
(0.4) |
– |
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|
(3.8) |
|
| Profit/(loss) before |
|
|
Six months to June 2019 |
|
307.5 |
|
|
303.4 |
|
|
(33.1) |
|
|
139.4 |
88.9 |
46.4 |
4.1 |
|
|
60.4 |
|
| royalties and taxation |
|
|
Six months to Dec 2018 |
|
195.9 |
|
|
194.3 |
|
|
(75.2) |
|
|
69.5 |
76.4 |
(8.6) |
1.7 |
|
|
58.7 |
|
| |
|
|
Six months to June 2018 |
|
281.1 |
|
|
281.1 |
|
|
(54.8) |
|
|
128.4 |
119.0 |
9.4 |
– |
|
|
47.3 |
|
| Royalties, mining and income taxation |
|
|
Six months to June 2019 |
|
(119.9) |
|
|
(115.6) |
|
|
9.0 |
|
|
(60.1) |
(37.2) |
(18.5) |
(4.3) |
|
|
(16.1) |
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|
|
Six months to Dec 2018 |
|
(83.7) |
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|
(81.0) |
|
|
12.0 |
|
|
(5.3) |
(13.5) |
10.9 |
(2.8) |
|
|
(36.6) |
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| |
|
|
Six months to June 2018 |
|
53.2 |
|
|
53.2 |
|
|
149.8 |
|
|
(12.1) |
(6.0) |
(6.1) |
– |
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|
(24.9) |
|
| – Normal taxation |
|
|
Six months to June 2019 |
|
(51.4) |
|
|
(51.4) |
|
|
– |
|
|
(27.5) |
(27.5) |
– |
– |
|
|
(27.6) |
|
| |
|
|
Six months to Dec 2018 |
|
(133.1) |
|
|
(133.1) |
|
|
– |
|
|
(15.3) |
(15.3) |
– |
– |
|
|
(28.3) |
|
| |
|
|
Six months to June 2018 |
|
(28.3) |
|
|
(28.3) |
|
|
– |
|
|
(4.3) |
(4.3) |
– |
– |
|
|
(23.8) |
|
| – Royalties |
|
|
Six months to June 2019 |
|
(37.1) |
|
|
(33.6) |
|
|
(0.6) |
|
|
(19.7) |
(11.5) |
(4.7) |
(3.5) |
|
|
(2.7) |
|
| |
|
|
Six months to Dec 2018 |
|
(32.0) |
|
|
(29.2) |
|
|
(0.4) |
|
|
(15.7) |
(9.6) |
(3.3) |
(2.8) |
|
|
(2.5) |
|
| |
|
|
Six months to June 2018 |
|
(33.3) |
|
|
(33.3) |
|
|
(0.6) |
|
|
(15.6) |
(11.6) |
(4.0) |
– |
|
|
(2.6) |
|
| – Deferred taxation |
|
|
Six months to June 2019 |
|
(31.4) |
|
|
(30.5) |
|
|
9.6 |
|
|
(12.9) |
1.7 |
(13.8) |
(0.8) |
|
|
14.2 |
|
| |
|
|
Six months to Dec 2018 |
|
81.4 |
|
|
81.4 |
|
|
12.3 |
|
|
25.7 |
11.5 |
14.2 |
– |
|
|
(5.9) |
|
| |
|
|
Six months to June 2018 |
|
114.8 |
|
|
114.8 |
|
|
150.4 |
|
|
7.8 |
9.9 |
(2.1) |
– |
|
|
1.6 |
|
| Profit/(loss) before non-recurring items |
|
|
Six months to June 2019 |
|
187.6 |
|
|
187.8 |
|
|
(24.1) |
|
|
79.4 |
51.7 |
27.9 |
(0.2) |
|
|
44.3 |
|
| |
|
|
Six months to Dec 2018 |
|
112.1 |
|
|
113.1 |
|
|
(63.3) |
|
|
64.2 |
62.9 |
2.3 |
(1.1) |
|
|
22.1 |
|
| |
|
|
Six months to June 2018 |
|
334.3 |
|
|
334.3 |
|
|
95.0 |
|
|
116.4 |
113.0 |
3.3 |
– |
|
|
22.4 |
|
| Non-recurring items |
|
|
Six months to June 2019 |
|
(0.2) |
|
|
(0.2) |
|
|
(0.1) |
|
|
0.1 |
0.1 |
– |
– |
|
|
– |
|
| |
|
|
Six months to Dec 2018 |
|
(4.9) |
|
|
(4.9) |
|
|
3.3 |
|
|
(6.7) |
(7.4) |
0.7 |
– |
|
|
(2.0) |
|
| |
|
|
Six months to June 2018 |
|
(402.9) |
|
|
(402.9) |
|
|
(259.8) |
|
|
(143.0) |
(128.4) |
(14.6) |
– |
|
|
– |
|
| Net profit/(loss) |
|
|
Six months to June 2019 |
|
187.4 |
|
|
187.6 |
|
|
(24.2) |
|
|
79.5 |
51.8 |
27.9 |
(0.2) |
|
|
44.3 |
|
| |
|
|
Six months to Dec 2018 |
|
107.3 |
|
|
108.2 |
|
|
(59.9) |
|
|
57.5 |
55.5 |
2.9 |
(1.1) |
|
|
20.2 |
|
| |
|
|
Six months to June 2018 |
|
(68.6) |
|
|
(68.6) |
|
|
(164.8) |
|
|
(26.6) |
(15.4) |
(11.2) |
– |
|
|
22.4 |
|
| Capital expenditure |
|
|
Six months to June 2019 |
|
(370.8)# |
|
|
(354.8) # |
|
|
(17.6) |
|
|
(134.1) |
(68.3) |
(49.7) |
(16.0) |
|
|
(16.4) |
|
| |
|
|
Six months to Dec 2018 |
|
(414.7) # |
|
|
(401.9) # |
|
|
(27.4) |
|
|
(151.1) |
(72.5) |
(65.8) |
(12.8) |
|
|
(23.3) |
|
| |
|
|
Six months to June 2018 |
|
(397.4) # |
|
|
(397.4) # |
|
|
(30.9) |
|
|
(156.3) |
(83.6) |
(72.7) |
– |
|
|
(9.9) |
|
| The average US dollar/Rand exchange rates for the six months were US$1 = R14.22 for June 2019 and US$1 = R12.25 for June 2018. |
| The average Australian/US dollar exchange rates for the six months were A$1 = US$0.71 for June 2019 and A$1 = US$0.77 for June 2018. |
| Figures may not add as they are rounded independently. |
| * |
Equity accounted Joint Venture comparatives for the six months to December 2018 represent only five months since acquisition. |
| # |
Includes non-sustaining capital expenditure for Gruyere mine project of US$64.9 million (A$91.9 million) for June 2019, US$68.2 million (A$94.1 million) for December 2018 and US$66.2 million (A$85.7 million) for June 2018, respectively. |
| Δ |
Excludes Gruyere physicals. |
| |
|
|
United States Dollars |
|
Figures in millions
unless otherwise stated
|
|
|
|
|
|
|
|
|
|
| Operating Results |
|
|
|
|
|
|
|
| Ore milled/treated (000 tonnes) Δ |
Six months to June 2019 |
|
3,655 |
2,251 |
586 |
818 |
|
| |
Six months to Dec 2018 |
|
3,690 |
2,158 |
590 |
942 |
|
| |
Six months to June 2018 |
|
3,517 |
2,093 |
588 |
836 |
|
| Yield (grams per tonne) Δ |
Six months to June 2019 |
|
3.6 |
2.6 |
6.0 |
5.1 |
|
| |
Six months to Dec 2018 |
|
3.7 |
2.6 |
6.5 |
4.7 |
|
| |
Six months to June 2018 |
|
3.9 |
2.8 |
6.1 |
5.1 |
|
| Gold produced (000 managed equivalent ounces) |
Six months to June 2019 |
|
434.9 |
187.6 |
113.3 |
134.0 |
|
| |
Six months to Dec 2018 |
|
444.0 |
177.1 |
123.7 |
143.2 |
|
| |
Six months to June 2018 |
|
442.4 |
189.8 |
115.4 |
137.2 |
|
| Gold sold (000 managed equivalent ounces) |
Six months to June 2019 |
|
432.5 |
183.2 |
115.4 |
133.9 |
|
| |
Six months to Dec 2018 |
|
441.6 |
176.8 |
121.6 |
143.2 |
|
| |
Six months to June 2018 |
|
444.3 |
190.2 |
116.9 |
137.3 |
|
| Gold price received (dollar per equivalent ounce) |
Six months to June 2019 |
|
1,302 |
1,299 |
1,304 |
1,303 |
|
| |
Six months to Dec 2018 |
|
1,212 |
1,210 |
1,211 |
1,214 |
|
| |
Six months to June 2018 |
|
1,318 |
1,318 |
1,316 |
1,320 |
|
| Cost of sales before gold inventory |
Six months to June 2019 |
|
71 |
48 |
136 |
94 |
|
| change and amortisation and depreciation (dollar per tonne) |
Six months to Dec 2018 |
|
70 |
44 |
133 |
91 |
|
| |
Six months to June 2018 |
|
76 |
51 |
138 |
97 |
|
| All-in sustaining costs (dollar per ounce) original interpretation |
Six months to June 2019 |
|
1,035 |
1,008 |
1,238 |
895 |
|
| |
Six months to Dec 2018 |
|
986 |
1,052 |
979 |
910 |
|
| |
Six months to June 2018 |
|
900 |
763 |
1,075 |
942 |
|
| All-in sustaining costs (dollar per ounce) revised interpretation |
Six months to June 2019 |
|
841 |
859 |
944 |
727 |
|
| |
|
|
|
|
|
|
|
| Total all-in-cost (dollar per ounce) |
Six months to June 2019 |
|
1,185# |
1,008 |
1,238 |
895 |
|
| |
Six months to Dec 2018 |
|
1,140# |
1,052 |
979 |
910 |
|
| |
Six months to June 2018 |
|
1,050# |
763 |
1,075 |
942 |
|
| Financial Results ($ millions) |
|
|
|
|
|
|
|
| Revenue |
Six months to June 2019 |
|
562.9 |
238.0 |
150.5 |
174.5 |
|
| |
Six months to Dec 2018 |
|
535.1 |
214.0 |
147.3 |
173.8 |
|
| |
Six months to June 2018 |
|
585.7 |
250.7 |
153.8 |
181.2 |
|
| Cost of sales before amortisation and depreciation |
Six months to June 2019 |
|
(280.3) |
(122.4) |
(81.6) |
(76.3) |
|
| |
Six months to Dec 2018 |
|
(271.5) |
(107.5) |
(76.8) |
(87.2) |
|
| |
Six months to June 2018 |
|
(244.0) |
(78.4) |
(84.7) |
(80.9) |
|
| Cost of sales before gold inventory change and amortisation and depreciation |
Six months to June 2019 |
|
(264.9) |
(108.2) |
(79.6) |
(77.1) |
|
| |
Six months to Dec 2018 |
|
(258.7) |
(94.9) |
(78.5) |
(85.3) |
|
| |
Six months to June 2018 |
|
(268.2) |
(106.0) |
(81.2) |
(81.0) |
|
| – Gold inventory change |
Six months to June 2019 |
|
(15.5) |
(14.2) |
(2.0) |
0.7 |
|
| |
Six months to Dec 2018 |
|
(12.8) |
(12.8) |
1.8 |
(1.8) |
|
| |
Six months to June 2018 |
|
24.2 |
27.7 |
(3.5) |
– |
|
| Amortisation of mining assets |
Six months to June 2019 |
|
(103.7) |
|
|
|
|
| |
Six months to Dec 2018 |
|
(112.1) |
|
|
|
|
| |
Six months to June 2018 |
|
(153.7) |
|
|
|
|
| Other expenses |
Six months to June 2019 |
|
(38.2) |
|
|
|
|
| |
Six months to Dec 2018 |
|
(8.8) |
|
|
|
|
| |
Six months to June 2018 |
|
(27.7) |
|
|
|
|
| Profit/(loss) before royalties and taxation |
Six months to June 2019 |
|
140.7 |
|
|
|
|
| |
Six months to Dec 2018 |
|
142.7 |
|
|
|
|
| |
Six months to June 2018 |
|
160.3 |
|
|
|
|
| Royalties, mining and income taxation |
Six months to June 2019 |
|
(52.7) |
|
|
|
|
| |
Six months to Dec 2018 |
|
(53.6) |
|
|
|
|
| |
Six months to June 2018 |
|
(59.6) |
|
|
|
|
| – Normal taxation |
Six months to June 2019 |
|
3.6 |
|
|
|
|
| |
Six months to Dec 2018 |
|
(89.4) |
|
|
|
|
| |
Six months to June 2018 |
|
(0.2) |
|
|
|
|
| – Royalties |
Six months to June 2019 |
|
(14.1) |
|
|
|
|
| |
Six months to Dec 2018 |
|
(13.5) |
|
|
|
|
| |
Six months to June 2018 |
|
(14.4) |
|
|
|
|
| – Deferred taxation |
Six months to June 2019 |
|
(42.2) |
|
|
|
|
| |
Six months to Dec 2018 |
|
49.3 |
|
|
|
|
| |
Six months to June 2018 |
|
(45.0) |
|
|
|
|
| Profit/(loss) before non-recurring items |
Six months to June 2019 |
|
88.0 |
|
|
|
|
| |
Six months to Dec 2018 |
|
89.1 |
|
|
|
|
| |
Six months to June 2018 |
|
100.7 |
|
|
|
|
| Non-recurring items |
Six months to June 2019 |
|
(0.2) |
|
|
|
|
| |
Six months to Dec 2018 |
|
0.5 |
|
|
|
|
| |
Six months to June 2018 |
|
(0.2) |
|
|
|
|
| Net profit/(loss) |
Six months to June 2019 |
|
87.8 |
|
|
|
|
| |
Six months to Dec 2018 |
|
89.7 |
|
|
|
|
| |
Six months to June 2018 |
|
100.5 |
|
|
|
|
| Capital expenditure |
Six months to June 2019 |
|
(202.8)# |
(50.7) |
(54.7) |
(32.5) |
|
| |
Six months to Dec 2018 |
|
(213.0) # |
(70.2) |
(37.4) |
(37.2) |
|
| |
Six months to June 2018 |
|
(200.1) # |
(57.0) |
(35.4) |
(41.6) |
|
| As a significant portion of the acquisition price was allocated to tenements on endowment ounces and also as the Australian operations are entitled to transfer and then off-set tax losses from one company to another, it is not meaningful to split the income statement below operating profit. |
| 1 |
For Australia, all financial numbers are in Australian dollar. |
| 2 |
For South Africa, all financial numbers are in Rand and Rand per kilogram. |
| Figures may not add as they are rounded independently. |
| # |
Includes non-sustaining capital expenditure for Gruyere mine project of US$64.9 million (A$91.9 million) for June 2019, US$68.2 million (A$94.1 million) for December 2018 and US$66.2 million (A$85.7 million) for June 2018, respectively. |
| Δ |
Excludes Gruyere physicals. |
| |
|
|
|
Australian Dollars |
|
|
|
South
African
Rand |
|
Figures in millions
unless otherwise stated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating Results |
|
|
|
|
|
|
|
|
|
|
|
|
| Ore milled/treated (000 tonnes) Δ |
Six months to June 2019 |
|
|
3,655 |
2,251 |
586 |
818 |
|
|
|
540 |
|
| |
Six months to Dec 2018 |
|
|
3,690 |
2,158 |
590 |
942 |
|
|
|
548 |
|
| |
Six months to June 2018 |
|
|
3,517 |
2,093 |
588 |
836 |
|
|
|
800 |
|
| Yield (grams per tonne) Δ |
Six months to June 2019 |
|
|
3.6 |
2.6 |
6.0 |
5.1 |
|
|
|
5.3 |
|
| |
Six months to Dec 2018 |
|
|
3.7 |
2.6 |
6.5 |
4.7 |
|
|
|
3.6 |
|
| |
Six months to June 2018 |
|
|
3.9 |
2.8 |
6.1 |
5.1 |
|
|
|
3.8 |
|
| Gold produced (000 managed equivalent ounces) |
Six months to June 2019 |
|
|
434.9 |
187.6 |
113.3 |
134.0 |
|
|
|
2,851 |
|
| |
Six months to Dec 2018 |
|
|
444.0 |
177.1 |
123.7 |
143.2 |
|
|
|
1,882 |
|
| |
Six months to June 2018 |
|
|
442.4 |
189.8 |
115.4 |
137.2 |
|
|
|
3,003 |
|
| Gold sold (000 managed equivalent ounces) |
Six months to June 2019 |
|
|
432.5 |
183.2 |
115.4 |
133.9 |
|
|
|
2,804 |
|
| |
Six months to Dec 2018 |
|
|
441.6 |
176.8 |
121.6 |
143.2 |
|
|
|
1,980 |
|
| |
Six months to June 2018 |
|
|
444.3 |
190.2 |
116.9 |
137.3 |
|
|
|
3,240 |
|
| Gold price received (dollar per equivalent ounce) |
Six months to June 2019 |
|
|
1,843 |
1,840 |
1,846 |
1,845 |
|
|
|
600,601 |
|
| |
Six months to Dec 2018 |
|
|
1,681 |
1,683 |
1,677 |
1,681 |
|
|
|
552,020 |
|
| |
Six months to June 2018 |
|
|
1,707 |
1,707 |
1,704 |
1,709 |
|
|
|
518,504 |
|
| Cost of sales before gold inventory change and amortisation and |
Six months to June 2019 |
|
|
101 |
68 |
192 |
133 |
|
|
|
3,119 |
|
| depreciation (dollar per tonne) |
Six months to Dec 2018 |
|
|
97 |
61 |
184 |
129 |
|
|
|
2,943 |
|
| |
Six months to June 2018 |
|
|
99 |
66 |
179 |
125 |
|
|
|
2,308 |
|
| All-in sustaining costs (dollar per ounce) original interpretation |
Six months to June 2019 |
|
|
1,465 |
1,427 |
1,753 |
1,268 |
|
|
|
698,982 |
|
| |
Six months to Dec 2018 |
|
|
1,369 |
1,461 |
1,360 |
1,264 |
|
|
|
1,080,999 |
|
| |
Six months to June 2018 |
|
|
1,166 |
988 |
1,393 |
1,219 |
|
|
|
669,306 |
|
| All-in sustaining costs (dollar per ounce) revised interpretation |
Six months to June 2019 |
|
|
1,191 |
1,217 |
1,337 |
1,029 |
|
|
|
698,982 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total all-in-cost (dollar per ounce) |
Six months to June 2019 |
|
|
1,677# |
1,427 |
1,753 |
1,268 |
|
|
|
698,982 |
|
| |
Six months to Dec 2018 |
|
|
1,571# |
1,461 |
1,360 |
1,264 |
|
|
|
1,034,155 |
|
| |
Six months to June 2018 |
|
|
1,360# |
988 |
1,393 |
1,219 |
|
|
|
715,373 |
|
| Financial Results ($ millions) |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
Six months to June 2019 |
|
|
797.0 |
337.0 |
213.1 |
247.0 |
|
|
|
1,683.9 |
|
| |
Six months to Dec 2018 |
|
|
742.1 |
297.5 |
203.9 |
240.7 |
|
|
|
1,093.0 |
|
| |
Six months to June 2018 |
|
|
758.4 |
324.6 |
199.2 |
234.6 |
|
|
|
1,679.9 |
|
| Cost of sales before amortisation and depreciation |
Six months to June 2019 |
|
|
(396.9) |
(173.3) |
(115.5) |
(108.1) |
|
|
|
(1,668.8) |
|
| |
Six months to Dec 2018 |
|
|
(374.2) |
(147.4) |
(106.5) |
(120.3) |
|
|
|
(1,703.7) |
|
| |
Six months to June 2018 |
|
|
(316.0) |
(101.5) |
(109.7) |
(104.8) |
|
|
|
(1,882.1) |
|
| Cost of sales before gold inventory change and amortisation |
Six months to June 2019 |
|
|
(375.0) |
(153.2) |
(112.7) |
(109.1) |
|
|
|
(1,685.3) |
|
| and depreciation |
Six months to Dec 2018 |
|
|
(358.1) |
(131.6) |
(108.7) |
(117.7) |
|
|
|
(1,612.6) |
|
| |
Six months to June 2018 |
|
|
(347.3) |
(137.3) |
(105.2) |
(104.9) |
|
|
|
(1,846.1) |
|
| – Gold inventory change |
Six months to June 2019 |
|
|
(21.9) |
(20.1) |
(2.8) |
1.0 |
|
|
|
16.5 |
|
| |
Six months to Dec 2018 |
|
|
(16.1) |
(15.8) |
2.2 |
(2.6) |
|
|
|
(91.1) |
|
| |
Six months to June 2018 |
|
|
31.3 |
35.8 |
(4.5) |
0.1 |
|
|
|
(36.0) |
|
| Amortisation of mining assets |
Six months to June 2019 |
|
|
(146.9) |
|
|
|
|
|
|
(238.6) |
|
| |
Six months to Dec 2018 |
|
|
(156.8) |
|
|
|
|
|
|
(304.2) |
|
| |
Six months to June 2018 |
|
|
(199.0) |
|
|
|
|
|
|
(341.8) |
|
| Other expenses |
Six months to June 2019 |
|
|
(54.1) |
|
|
|
|
|
|
(246.5) |
|
| |
Six months to Dec 2018 |
|
|
(13.1) |
|
|
|
|
|
|
(129.9) |
|
| |
Six months to June 2018 |
|
|
(35.8) |
|
|
|
|
|
|
(127.5) |
|
| Profit/(loss) before royalties and taxation |
Six months to June 2019 |
|
|
199.2 |
|
|
|
|
|
|
(470.0) |
|
| |
Six months to Dec 2018 |
|
|
198.1 |
|
|
|
|
|
|
(1,044.9) |
|
| |
Six months to June 2018 |
|
|
207.6 |
|
|
|
|
|
|
(671.5) |
|
| Royalties, mining and income taxation |
Six months to June 2019 |
|
|
(74.6) |
|
|
|
|
|
|
127.7 |
|
| |
Six months to Dec 2018 |
|
|
(74.3) |
|
|
|
|
|
|
224.1 |
|
| |
Six months to June 2018 |
|
|
(77.2) |
|
|
|
|
|
|
1,928.4 |
|
| – Normal taxation |
Six months to June 2019 |
|
|
5.2 |
|
|
|
|
|
|
– |
|
| |
Six months to Dec 2018 |
|
|
(119.6) |
|
|
|
|
|
|
– |
|
| |
Six months to June 2018 |
|
|
(0.3) |
|
|
|
|
|
|
– |
|
| – Royalties |
Six months to June 2019 |
|
|
(20.0) |
|
|
|
|
|
|
(8.4) |
|
| |
Six months to Dec 2018 |
|
|
(18.7) |
|
|
|
|
|
|
(5.4) |
|
| |
Six months to June 2018 |
|
|
(18.7) |
|
|
|
|
|
|
(7.6) |
|
| – Deferred taxation |
Six months to June 2019 |
|
|
(59.8) |
|
|
|
|
|
|
136.1 |
|
| |
Six months to Dec 2018 |
|
|
64.0 |
|
|
|
|
|
|
229.5 |
|
| |
Six months to June 2018 |
|
|
(58.2) |
|
|
|
|
|
|
1,936.0 |
|
| Profit/(loss) before non-recurring items |
Six months to June 2019 |
|
|
124.6 |
|
|
|
|
|
|
(342.3) |
|
| |
Six months to Dec 2018 |
|
|
123.8 |
|
|
|
|
|
|
(820.7) |
|
| |
Six months to June 2018 |
|
|
130.3 |
|
|
|
|
|
|
1,256.9 |
|
| Non-recurring items |
Six months to June 2019 |
|
|
(0.3) |
|
|
|
|
|
|
(1.2) |
|
| |
Six months to Dec 2018 |
|
|
0.6 |
|
|
|
|
|
|
41.8 |
|
| |
Six months to June 2018 |
|
|
(0.2) |
|
|
|
|
|
|
(3,487.2) |
|
| Net profit/(loss) |
Six months to June 2019 |
|
|
124.3 |
|
|
|
|
|
|
(343.5) |
|
| |
Six months to Dec 2018 |
|
|
124.4 |
|
|
|
|
|
|
(778.9) |
|
| |
Six months to June 2018 |
|
|
130.1 |
|
|
|
|
|
|
(2,230.3) |
|
| Capital expenditure |
Six months to June 2019 |
|
|
(287.2) # |
(71.8) |
(77.5) |
(46.0) |
|
|
|
(250.0) |
|
| |
Six months to Dec 2018 |
|
|
(293.7) # |
(96.5) |
(51.6) |
(51.6) |
|
|
|
(391.1) |
|
| |
Six months to June 2018 |
|
|
(259.3) # |
(73.8) |
(45.9) |
(53.8) |
|
|
|
(378.8) |
|
| As a significant portion of the acquisition price was allocated to tenements on endowment ounces and also as the Australian operations are entitled to transfer and then off-set tax losses from one company to another, it is not meaningful to split the income statement below operating profit. |
| 1 |
For Australia, all financial numbers are in Australian dollar. |
| 2 |
For South Africa, all financial numbers are in Rand and Rand per kilogram. |
| Figures may not add as they are rounded independently. |
| # |
Includes non-sustaining capital expenditure for Gruyere mine project of US$64.9 million (A$91.9 million) for June 2019, US$68.2 million (A$94.1 million) for December 2018 and US$66.2 million (A$85.7 million) for June 2018, respectively. |
| Δ |
Excludes Gruyere physicals. |
|
