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Reviewed Results | Six months ended 30 June 2022

Financials / The financial statements are presented on a condensed consolidated basis. Income statement

 

      United States Dollars 
      Six months ended 
Figures in millions unless otherwise stated   Notes  June 2022 
(Reviewed)
 
June 2021  
(Unreviewed) 
Revenue  1  2,235.3  1,983.6  
Cost of sales  2  (1,300.4) (1,146.5) 
Cost of sales before amortisation and depreciation     (922.6) (831.6) 
Cost of sales before gold inventory change and amortisation and depreciation     (943.9) (858.2) 
Gold inventory change     21.3  26.6  
Amortisation and depreciation     (377.8) (314.9) 
Investment income  3  3.5  3.9*
Finance expense  4  (38.2) (36.0)*
Share of results of equity-accounted investees, after taxation  5  (5.1) 16.5  
Gain/(loss) on foreign exchange     16.0  (7.4) 
Gain/(loss) on financial instruments  6  23.4  (53.1) 
Share-based payments  7  (4.1) (6.4) 
Long-term incentive plan  8  (11.4) (11.5) 
Other costs, net  9  (10.7) (32.2) 
Exploration expenses  10  (32.8) (33.4) 
Profit before royalties, taxation and non-recurring items     875.5  677.5  
Non-recurring items     (9.8) 2.8  
Profit before royalties and taxation     865.7  680.3  
Royalties  11  (58.6) (54.1) 
Profit before taxation     807.1  626.2  
Mining and income taxation  12  (273.5) (216.1) 
Normal taxation     (224.2) (192.3) 
Deferred taxation     (49.3) (23.8) 
Profit for the period     533.6  410.1  
Attributable to:          
Owners of the parent     509.7  387.4  
Non-controlling interest     23.9  22.7  
Profit attributable to owners of the parent  13.1  509.7  387.4  
Diluted profit attributable to owners of the parent  13.2  504.9  385.0  
Basic earnings per share (cents) attributable to owners of the parent  13.1  57  44  
Diluted earnings per share (cents) attributable to owners of the parent  13.2  56  43  
Non-IFRS measures and other disclosures          
Non-recurring items:          
(Loss)/profit on disposal of property, plant and equipment     (0.1) 8.9  
Restructuring costs       (1.3) 
COVID-19 donations       (1.4) 
Impairment of investments and assets  14  (9.3) (4.2) 
Other     (0.4) 0.8  
Total non-recurring items     (9.8) 2.8  
Taxation on items above     1.4  (1.7)
Non-recurring items after tax     (8.4) 1.1  
Headline earnings attributable to owners of the parent  13.3  518.0  395.5  
Diluted headline earnings attributable to owners of the parent  13.4  513.2  393.1  
Headline earnings per share (cents) attributable to owners of the parent  13.3  58  45  
Diluted headline earnings per share (cents) attributable to owners of the parent  13.4  57  44  
Normalised profit attributable to owners of the parent     498.4  430.5  
Normalised profit per share (cents) attributable to owners of the parent     56  49  
US Dollar/South African Rand conversion rate     15.40  14.54  
Australian Dollar/US Dollar conversion rate     0.72  0.77  

Figures may not add as they are rounded independently.

* Net interest expense of US$32.1m as disclosed in June 2021 was split between investment income of US$3.9m and finance expense of US$36.0m.

The consolidated financial statements for the six months ended 30 June 2022 have been prepared by the corporate accounting staff of Gold Fields Limited headed by Tzvet Ilarionova, the Group Financial Controller. This process was supervised by Paul Schmidt, the Group Chief Financial Officer.