Segmental operating and financial results
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United States Dollars |
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Figures are in millions
unless otherwise stated |
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| Operating Results (Unreviewed) |
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| Ore milled/treated (000 tonnes) |
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Year 2018 |
34,110 |
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33,166 |
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33,166 |
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1,320 |
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18,940 |
13,791 |
4,205 |
944 |
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6,644 |
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Year 2017 |
34,492 |
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34,492 |
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34,154 |
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2,081 |
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18,117 |
13,527 |
4,590 |
– |
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6,796 |
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| Yield (grams per tonne) |
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Year 2018 |
2.0 |
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2.0 |
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2.0 |
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3.7 |
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1.2 |
1.2 |
1.3 |
1.5 |
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1.5 |
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Year 2017 |
2.0 |
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2.0 |
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2.0 |
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4.2 |
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1.2 |
1.3 |
1.0 |
– |
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1.4 |
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| Gold produced |
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Year 2018 |
2,107.8 |
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2,063.2 |
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2,063.2 |
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157.1 |
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750.2 |
524.9 |
180.8 |
44.5 |
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314.1 |
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| (000 managed equivalent ounces) |
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Year 2017 |
2,232.5 |
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2,232.5 |
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2,193.3 |
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281.3 |
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710.0 |
566.4 |
143.6 |
– |
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306.7 |
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| Gold sold |
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Year 2018 |
2,104.5 |
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2,058.6 |
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2,058.6 |
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167.8 |
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751.6 |
524.9 |
180.8 |
45.9 |
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299.1 |
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| (000 managed equivalent ounces) |
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Year 2017 |
2,240.2 |
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2,240.2 |
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2,201.1 |
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281.8 |
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710.0 |
566.4 |
143.6 |
– |
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313.8 |
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| Gold price received |
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Year 2018 |
1,251 |
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1,252 |
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1,252 |
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1,252 |
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1,265 |
1,271 |
1,266 |
1,196 |
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1,174 |
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| (dollar per equivalent ounce) |
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Year 2017 |
1,255 |
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1,255 |
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1,255 |
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1,256 |
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1,255 |
1,255 |
1,255 |
– |
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1,252 |
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| Cost of sales before gold inventory change and amortisation and depreciation |
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Year 2018 |
42 |
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42 |
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42 |
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199 |
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26 |
22 |
34 |
44 |
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24 |
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| (dollar per tonne) |
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Year 2017 |
43 |
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43 |
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42 |
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147 |
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26 |
26 |
26 |
– |
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22 |
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| All-in-sustaining costs (dollar per ounce) |
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Year 2018 |
971 |
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968 |
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968 |
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1,903 |
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926 |
951 |
813 |
1,069 |
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282 |
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Year 2017 |
945 |
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945 |
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936 |
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1,340 |
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958 |
940 |
1,027 |
– |
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203 |
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| Total all-in-cost (dollar per ounce) |
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Year 2018 |
1,047 |
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1,044 |
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1,044 |
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2,012 |
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1,098 |
951 |
1,506 |
1,175 |
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282 |
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Year 2017 |
1,008 |
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1,008 |
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1,000 |
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1,400 |
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1,119 |
940 |
1,827 |
– |
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203 |
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| Financial Results ($ millions) (Reviewed) |
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| Revenue |
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Year 2018# |
2,632.7 |
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2,577.8 |
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2,577.8 |
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210.1 |
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950.8 |
666.9 |
229.0 |
54.9 |
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351.0 |
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Year 2017 |
2,810.8 |
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2,810.8 |
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2,761.8 |
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354.1 |
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891.1 |
710.8 |
180.3 |
– |
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392.9 |
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| Cost of sales before |
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Year 2018# |
(1,412.6) |
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(1,375.2) |
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(1,375.2) |
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(271.7) |
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(470.6) |
(308.8) |
(124.4) |
(37.4) |
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(154.8) |
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| amortisation and depreciation |
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Year 2017 |
(1,403.8) |
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(1,403.8)) |
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(1,356.6) |
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(304.7) |
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(428.2) |
(306.0) |
(122.2) |
– |
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(154.3) |
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| Cost of sales before gold inventory |
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Year 2018# |
(1,433.0) |
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(1,391.4) |
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(1,391.4) |
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(262.0) |
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(483.8) |
(298.7) |
(143.5) |
(41.6) |
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(160.3) |
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| change and amortisation and depreciation |
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Year 2017 |
(1,472.4) |
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(1,472.4) |
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(1,426.1) |
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(306.3) |
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(469.4) |
(348.0) |
(121.2) |
– |
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(151.2) |
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| – Gold inventory change |
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Year 2018# |
20.4 |
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16.2 |
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16.2 |
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(9.6) |
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13.2 |
(10.1) |
19.1 |
4.2 |
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5.5 |
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Year 2017 |
68.6 |
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68.6 |
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69.5 |
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1.5 |
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41.1 |
42.0 |
(0.9) |
– |
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(3.1) |
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| Amortisation of mining assets |
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Year 2018# |
(680.3) |
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(664.7) |
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(664.7) |
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(48.9) |
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(283.7) |
(168.3) |
(99.9) |
(15.5) |
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(81.8) |
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Year 2017 |
(748.9) |
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(748.9) |
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(745.4) |
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(74.2) |
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(242.3) |
(220.0) |
(22.3) |
– |
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(130.9) |
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| Other expenses |
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Year 2018# |
(62.9) |
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(62.6) |
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(62.6) |
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(19.5) |
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1.4 |
5.7 |
(3.9) |
(0.3) |
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(8.4) |
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Year 2017 |
(91.6) |
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(91.6) |
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(89.5) |
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(7.8) |
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(16.3) |
(9.2) |
(7.1) |
– |
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(21.6) |
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| Profit/(loss) before royalties |
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Year 2018# |
477.0 |
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475.4 |
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475.4 |
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(130.0) |
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197.9 |
195.4 |
0.8 |
1.7 |
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106.0 |
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| and taxation |
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Year 2017 |
566.6 |
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566.6 |
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570.3 |
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(32.7) |
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204.3 |
175.6 |
28.7 |
– |
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86.2 |
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| Royalties, mining and income taxation |
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Year 2018# |
(30.5) |
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(27.8) |
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(27.8) |
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161.8 |
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(17.4) |
(19.5) |
4.8 |
(2.8) |
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(61.5) |
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Year 2017 |
(240.9) |
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(240.9) |
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(234.2) |
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9.1 |
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(82.7) |
(80.3) |
(2.4) |
– |
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(41.4) |
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| – Normal taxation |
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Year 2018# |
(161.4) |
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(161.4) |
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(161.4) |
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– |
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(19.6) |
(19.6) |
– |
– |
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(52.1) |
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Year 2017 |
(209.6) |
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(209.6) |
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(207.3) |
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– |
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(58.0) |
(58.0) |
– |
– |
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(50.8) |
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| – Royalties |
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Year 2018# |
(65.3) |
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(62.5) |
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(62.5) |
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(1.0) |
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(31.3) |
(21.2) |
(7.3) |
(2.8) |
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(5.1) |
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Year 2017 |
(63.1) |
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(63.1) |
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(62.0) |
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(1.8) |
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(27.1) |
(21.7) |
(5.5) |
– |
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(5.3) |
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| – Deferred taxation |
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Year 2018# |
196.2 |
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196.2 |
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196.2 |
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162.7 |
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33.5 |
21.4 |
12.1 |
– |
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(4.3) |
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Year 2017 |
31.7 |
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31.7 |
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|
35.0 |
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10.9 |
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2.5 |
(0.6) |
3.1 |
– |
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14.7 |
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| Profit/(loss) before non- |
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Year 2018# |
446.4 |
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|
447.4 |
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|
447.4 |
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31.7 |
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180.6 |
175.9 |
5.6 |
(1.1) |
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44.5 |
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| recurring items |
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Year 2017 |
325.6 |
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325.6 |
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|
336.0 |
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(23.4) |
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121.6 |
95.4 |
26.3 |
– |
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44.9 |
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| Non-recurring items |
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Year 2018# |
(407.8) |
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(407.8) |
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(407.8) |
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(256.5) |
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|
(149.7) |
(135.8) |
(13.9) |
– |
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(2.0) |
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Year 2017 |
72.8 |
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|
72.8 |
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|
49.3 |
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(1.8) |
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|
(15.9) |
(10.0) |
(5.9) |
– |
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52.6 |
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| Net (loss)/profit |
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Year 2018# |
38.7 |
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|
39.6 |
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|
39.6 |
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(224.7) |
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30.9 |
40.1 |
(8.3) |
(1.1) |
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42.6 |
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Year 2017 |
398.5 |
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|
398.5 |
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|
385.4 |
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(25.3) |
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105.8 |
85.4 |
20.4 |
– |
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|
97.4 |
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| Capital expenditure |
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Year 2018# |
(677.7) |
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(664.9) |
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(664.9) |
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(58.3) |
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(307.4) |
(156.1) |
(138.5) |
(12.8) |
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(33.2) |
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Year 2017 |
(752.7) |
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(752.7) |
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(745.9) |
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(82.4) |
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|
(312.8) |
(180.6) |
(132.1) |
– |
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(34.0) |
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The average US dollar/Rand exchange rates were US$1 = R13.20 for 2018 and US$1 = R13.33 for 2017.
The average Australian/US dollar exchange rates were A$1 = US$0.75 for 2018 and A$1 = US$0.77 for 2017.
Figures may not add as they are rounded independently.
# Reviewed.
* Equity accounted Joint Venture. |
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United States Dollars |
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Figures are in millions unless
otherwise stated
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| Operating Results (Unreviewed) |
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| Ore milled/treated (000 tonnes) |
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Year 2018 |
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7,207 |
4,251 |
1,178 |
1,778 |
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Year 2017 |
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7,159 |
4,198 |
1,235 |
1,726 |
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| Yield (grams per tonne) |
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Year 2018 |
|
3.8 |
2.7 |
6.3 |
4.9 |
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Year 2017 |
|
3.9 |
2.7 |
8.8 |
7.6 |
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| Gold produced (000 managed equivalent ounces) |
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Year 2018 |
|
886.4 |
366.9 |
239.1 |
280.4 |
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Year 2017 |
|
895.4 |
363.9 |
241.2 |
290.3 |
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| Gold sold (000 managed equivalent ounces) |
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Year 2018 |
|
885.9 |
367.0 |
238.5 |
280.5 |
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Year 2017 |
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895.4 |
363.9 |
241.2 |
290.3 |
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| Gold price received (dollar per equivalent ounce) |
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Year 2018 |
|
1,265 |
1,266 |
1,263 |
1,266 |
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Year 2017 |
|
1,255 |
1,257 |
1,254 |
1,253 |
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| Cost of sales before gold inventory change and amortisation and depreciation (dollar per tonne) |
Year 2018 |
|
73 |
47 |
136 |
94 |
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Year 2017 |
|
70 |
45 |
125 |
91 |
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| All-in sustaining costs (dollar per ounce) |
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Year 2018 |
|
943 |
902 |
1,026 |
925 |
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|
Year 2017 |
|
926 |
916 |
977 |
896 |
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| Total all-in-cost (dollar per ounce) |
|
Year 2018 |
|
943 |
902 |
1,026 |
925 |
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| |
|
Year 2017 |
|
926 |
916 |
977 |
896 |
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| Financial Results ($ millions) (Reviewed) |
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| Revenue |
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Year 2018# |
|
1,120.8 |
464.7 |
301.1 |
355.0 |
|
| |
|
Year 2017 |
|
1,123.7 |
457.3 |
302.6 |
363.8 |
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| Cost of sales before amortisation
and depreciation |
|
Year 2018# |
|
(515.5) |
(185.9) |
(161.5) |
(168.1) |
|
| |
|
Year 2017 |
|
(469.4) |
(158.6) |
(150.4) |
(160.3) |
|
| Cost of sales before gold inventory change and amortisation and depreciation |
|
Year 2018# |
|
(526.9) |
(200.9) |
(159.7) |
(166.3) |
|
| |
|
Year 2017 |
|
(499.3) |
(187.6) |
(154.9) |
(156.8) |
|
| – Gold inventory change |
|
Year 2018# |
|
11.4 |
14.9 |
(1.7) |
(1.8) |
|
| |
|
Year 2017 |
|
29.9 |
29.0 |
4.5 |
(3.6) |
|
| Amortisation of mining assets |
|
Year 2018# |
|
(265.8) |
|
|
|
|
| |
|
Year 2017 |
|
(298.1) |
|
|
|
|
| Other expenses |
|
Year 2018# |
|
(36.5) |
|
|
|
|
| |
|
Year 2017 |
|
(43.8) |
|
|
|
|
| Profit/(loss) before royalties and taxation |
|
Year 2018# |
|
303.0 |
|
|
|
|
| |
|
Year 2017 |
|
312.4 |
|
|
|
|
| Royalties, mining and income taxation |
|
Year 2018# |
|
(113.2) |
|
|
|
|
| |
|
Year 2017 |
|
(119.3) |
|
|
|
|
| – Normal taxation |
|
Year 2018# |
|
(89.6) |
|
|
|
|
| |
|
Year 2017 |
|
(98.4) |
|
|
|
|
| – Royalties |
|
Year 2018# |
|
(27.9) |
|
|
|
|
| |
|
Year 2017 |
|
(27.8) |
|
|
|
|
| – Deferred taxation |
|
Year 2018# |
|
4.3 |
|
|
|
|
| |
|
Year 2017 |
|
6.9 |
|
|
|
|
| Profit/(loss) before non-recurring items |
|
Year 2018# |
|
189.8 |
|
|
|
|
| |
|
Year 2017 |
|
193.1 |
|
|
|
|
| Non-recurring items |
|
Year 2018# |
|
0.3 |
|
|
|
|
| |
|
Year 2017 |
|
14.4 |
|
|
|
|
| Net profit/(loss) |
|
Year 2018# |
|
190.2 |
|
|
|
|
| |
|
Year 2017 |
|
207.5 |
|
|
|
|
| Capital expenditure |
|
Year 2018# |
|
(278.7) |
(127.2) |
(72.8) |
(78.8) |
|
| |
|
Year 2017 |
|
(316.9) |
(156.2) |
(73.7) |
(87.0) |
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|
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|
Australian Dollars |
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|
South
African
Rand |
|
|
United States
Dollars |
|
|
Australian
Dollars |
|
Figures are in millions unless
otherwise stated
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|
| Operating Results (Unreviewed) |
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|
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|
|
| Ore milled/treated (000 tonnes) |
|
Year 2018 |
|
7,207 |
4,251 |
1,178 |
1,778 |
|
|
|
1,348 |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
7,159 |
4,198 |
1,235 |
1,726 |
|
|
|
2,081 |
|
|
338 |
|
|
338 |
|
| Yield (grams per tonne) |
|
Year 2018 |
|
3.8 |
2.7 |
6.3 |
4.9 |
|
|
|
3.6 |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
3.9 |
2.7 |
8.8 |
7.6 |
|
|
|
4.2 |
|
|
3.6 |
|
|
3.6 |
|
| Gold produced (000 managed equivalent ounces) |
|
Year 2018 |
|
886.4 |
366.9 |
239.1 |
280.4 |
|
|
|
4,885 |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
895.4 |
363.9 |
241.2 |
290.3 |
|
|
|
8,748 |
|
|
39.2 |
|
|
39.2 |
|
| Gold sold (000 managed equivalent ounces) |
|
Year 2018 |
|
885.9 |
367.0 |
238.5 |
280.5 |
|
|
|
5,220 |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
895.4 |
363.9 |
241.2 |
290.3 |
|
|
|
8,766 |
|
|
39.2 |
|
|
39.2 |
|
| Gold price received (dollar per equivalent ounce) |
|
Year 2018 |
|
1,694 |
1,695 |
1,690 |
1,694 |
|
|
|
531,253 |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
1,640 |
1,642 |
1,639 |
1,638 |
|
|
|
538,344 |
|
|
1,252 |
|
|
1,637 |
|
Cost of sales before gold inventory change and
|
|
Year 2018 |
|
98 |
63 |
182 |
125 |
|
|
|
2,564 |
|
|
– |
|
|
– |
|
| amortisation and depreciation (dollar per tonne) |
|
Year 2017 |
|
91 |
58 |
164 |
119 |
|
|
|
1,962 |
|
|
137 |
|
|
179 |
|
| All-in sustaining costs (dollar per ounce) |
|
Year 2018 |
|
1,262 |
1,207 |
1,374 |
1,239 |
|
|
|
807,688 |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
1,210 |
1,198 |
1,276 |
1,171 |
|
|
|
574,406 |
|
|
1,432 |
|
|
1,874 |
|
| Total all-in-cost |
|
Year 2018 |
|
1,262 |
1,207 |
1,374 |
1,239 |
|
|
|
854,049 |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
1,210 |
1,198 |
1,276 |
1,171 |
|
|
|
600,109 |
|
|
1,432 |
|
|
1,874 |
|
| Financial Results ($ millions) (Reviewed) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
Year 2018# |
|
1,500.5 |
622.1 |
403.1 |
475.3 |
|
|
|
2,772.9 |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
1,468.5 |
597.6 |
395.4 |
475.5 |
|
|
|
4,719.8 |
|
|
49.0 |
|
|
64.1 |
|
| Cost of sales before amortisation
and depreciation |
|
Year 2018# |
|
(690.2) |
(248.9) |
(216.2) |
(225.1) |
|
|
|
(3,585.8) |
|
|
|
|
|
|
|
| |
|
Year 2017 |
|
(613.4) |
(207.3) |
(196.6) |
(209.5) |
|
|
|
(4,061.9) |
|
|
(47.1) |
|
|
(61.7) |
|
| Cost of sales before gold inventory change and |
|
Year 2018# |
|
(705.4) |
(268.9) |
(213.9) |
(222.6) |
|
|
|
(3,458.7) |
|
|
– |
|
|
– |
|
| amortisation and depreciation |
|
Year 2017 |
|
(652.5) |
(245.2) |
(202.5) |
(204.9) |
|
|
|
(4,082.5) |
|
|
(46.3) |
|
|
(60.5) |
|
| – Gold inventory change |
|
Year 2018# |
|
15.2 |
20.0 |
(2.3) |
(2.5) |
|
|
|
(127.1) |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
39.1 |
37.9 |
5.9 |
(4.7) |
|
|
|
20.6 |
|
|
(0.9) |
|
|
(1.1) |
|
| Amortisation of mining assets |
|
Year 2018# |
|
(355.8) |
|
|
|
|
|
|
(646.0) |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
(388.2) |
|
|
|
|
|
|
(989.2) |
|
|
(3.5) |
|
|
(4.2) |
|
| Other expenses |
|
Year 2018# |
|
(48.9) |
|
|
|
|
|
|
(257.4) |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
(57.2) |
|
|
|
|
|
|
(104.2) |
|
|
(2.1) |
|
|
(3.0) |
|
| Profit/(loss) before royalties and taxation |
|
Year 2018# |
|
405.7 |
|
|
|
|
|
|
(1,716.4) |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
409.6 |
|
|
|
|
|
|
(435.5) |
|
|
(3.7) |
|
|
(4.7) |
|
| Royalties, mining and income taxation |
|
Year 2018# |
|
(151.5) |
|
|
|
|
|
|
2,152.5 |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
(156.2) |
|
|
|
|
|
|
121.1 |
|
|
(6.7) |
|
|
(9.0) |
|
| – Normal taxation |
|
Year 2018# |
|
(119.9) |
|
|
|
|
|
|
– |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
(128.6) |
|
|
|
|
|
|
– |
|
|
(2.3) |
|
|
(3.0) |
|
| – Royalties |
|
Year 2018# |
|
(37.4) |
|
|
|
|
|
|
(13.0) |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
(36.3) |
|
|
|
|
|
|
(23.6) |
|
|
(1.1) |
|
|
(1.5) |
|
| – Deferred taxation |
|
Year 2018# |
|
5.8 |
|
|
|
|
|
|
2,165.5 |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
8.6 |
|
|
|
|
|
|
144.8 |
|
|
(3.3) |
|
|
(4.5) |
|
| Profit/(loss) before non-recurring items |
|
Year 2018# |
|
254.1 |
|
|
|
|
|
|
436.2 |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
253.4 |
|
|
|
|
|
|
(314.2) |
|
|
(10.4) |
|
|
(14.7) |
|
| Non-recurring items |
|
Year 2018# |
|
0.4 |
|
|
|
|
|
|
(3,445.4) |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
18.7 |
|
|
|
|
|
|
(23.5) |
|
|
23.5 |
|
|
30.8 |
|
| Net profit/(loss) |
|
Year 2018# |
|
254.5 |
|
|
|
|
|
|
(3,009.2) |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
272.1 |
|
|
|
|
|
|
(337.8) |
|
|
13.1 |
|
|
17.1 |
|
| Capital expenditure |
|
Year 2018# |
|
(373.2) |
(170.3) |
(97.5) |
(105.4) |
|
|
|
(769.9) |
|
|
– |
|
|
– |
|
| |
|
Year 2017 |
|
(414.1) |
(204.1) |
(96.2) |
(113.8) |
|
|
|
(1,098.8) |
|
|
(6.8) |
|
|
(8.9) |
|
| 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. |
| # |
Reviewed. |
|
