Gold Fields

The preliminary financial statements are presented on a condensed consolidated basis

INCOME STATEMENT

United States Dollars
Year ended
Figures in millions unless otherwise stated
December
2019
(Reviewed)
December
2018
(Audited)
Revenue 2,967.1 2,577.8
Cost of sales (2,033.5) (2,043.0)
Cost of sales before amortisation and depreciation (1,423.5) (1,374.6)
Cost of sales before gold inventory change and amortisation and depreciation (1,466.5) (1,390.8)
Gold inventory change 43.0 16.2
Amortisation and depreciation (610.0) (668.4)
Net interest expense (81.9) (66.5)
Share of results of equity accounted investees, after taxation 3.1 (13.1)
(Loss)/gain on foreign exchange (5.2) 6.4
(Loss)/gain on financial instruments (238.0) 21.0
Share-based payments (20.5) (37.5)
Long-term incentive plan (9.1) (1.1)
Other costs, net (49.8) (54.9)
Exploration and project expenses (84.4) (104.2)
Profit before royalties, taxation and non-recurring items 447.8 284.9
Non-recurring items (23.8) (633.1)
Profit/(loss) before royalties and taxation 424.0 (348.2)
Royalties (73.7) (62.5)
Profit/(loss) before taxation 350.3 (410.7)
Mining and income taxation (175.6) 65.9
Normal taxation (190.6) (145.7)
Deferred taxation 15.0 211.6
     
Profit/(loss) for the year 174.7 (344.8)
Attributable to:    
Owners of the parent 161.6 (348.2)
Non-controlling interest 13.1 3.4
Profit/(loss) attributable to owners of the parent 161.6 (348.2)
Profit/(loss) per share (cents) attributable to owners of the parent 20 (42)
Diluted profit/(loss) per share (cents) attributable to owners of the parent 19 (42)
Non IFRS measures and other disclosures    
Non-recurring items:    
Profit on disposal of Maverix 14.6
Profit/(loss) on sale of assets 1.2 (51.6)
Restructuring costs (0.6) (113.9)
Damang – contract termination (13.1)
Loss on buy-back of bond (5.0)
Silicosis provision adjusted 1.6 4.5
Impairment/reversal of impairment of FSE (9.6) (36.9)
Impairment of South Deep (481.5)
Impairment of investments and assets (0.2) (1.9)
Gain on acquisition of Asanko 51.8
Loss on sale of inventory (8.9)
Other (12.7) 5.3
Total non-recurring items (23.8) (633.1)
Taxation on items above 7.8 171.1
Non-recurring deferred taxation items (non-cash) 61.5
Non-recurring items after tax (16.0) (400.5)
Headline earnings attributable to owners of the parent 162.7 60.6
Headline earnings per share (cents) attributable to owners of the parent 20 7
Diluted headline earnings per share (cents) attributable to owners of the parent 19 7
Normalised profit attributable to owners of the parent 343.4 26.9
Normalised profit per share (cents) attributable to owners of the parent 42 3
US dollar/South African rand conversion rate 14.46 13.20
Australian dollar/US dollar dollar conversion rate 0.70 0.75

Figures may not add as they are rounded independently.

The condensed consolidated financial statements 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.