Gold Fields

Segmental operating and financial results

                      United States Dollars        
Figures in millions
unless otherwise stated
 
 
Total
Mine
Operations
Including
Equity
Accounted
Joint Venture
    Total
Mine
Operations
Excluding
Equity
Accounted
Joint Venture
    South Africa
Region
    West Africa
Region
    South
America
Region
  Ghana Peru  
South
Deep
Total Tarkwa Damang Asanko*
45%
Cerro
Corona
 
Operating Results (Unreviewed)     Year 2019   38,342 35,868 1,666 20,868 13,749 4,645 2,474 6,718  
Ore milled/treated (000 tonnes)     Year 2018   34,110 33,166 1,320 18,940 13,791 4,205 944 6,644  
Yield (grams per tonne)     Year 2019   1.8 1.9 4.1 1.3 1.2 1.4 1.4 1.4  
      Year 2018   2.0 2.0 3.7 1.2 1.2 1.3 1.5 1.5  
Gold produced (000 managed equivalent ounces)     Year 2019   2,269.5 2,156.5 222.1 840.5 519.1 208.4 113.0 292.7  
      Year 2018   2,107.8 2,063.2 157.1 750.2 524.9 180.8 44.5 314.1  
Gold sold (000 managed equivalent ounces)     Year 2019   2,249.8 2,137.8 222.1 839.5 519.1 208.4 112.0 296.9  
      Year 2018   2,104.5 2,058.6 167.8 751.6 524.9 180.8 45.9 299.1  
Gold price received (dollar per equivalent ounce)     Year 2019   1,387 1,388 1,418 1,384 1,388 1,384 1,369 1,344  
      Year 2018   1,251 1,252 1,252 1,265 1,271 1,266 1,196 1,174  
Cost of sales before gold inventory change and     Year 2019   41 41 148 27 24 32 36 25  
amortisation and depreciation (dollar per tonne)     Year 2018   42 42 199 26 22 34 44 24  
All-in-sustaining costs (dollar per ounce)     Year 2019   958 950 1,259 942 958 809 1,112 472  
original interpretation     Year 2018   971 968 1,903 926 951 813 1,069 282  
All-in-sustaining costs (dollar per ounce)     Year 2019   885 873 1,259 942 958 809 1,112 381  
revised interpretation     Year 2018    
Total all-in-cost (dollar per ounce)     Year 2019   997 985 1,259 1,039 958 1,147 1,214 472  
      Year 2018   1,047 1,044 2,012 1,098 951 1,506 1,175 282  
Financial Results ($ millions) (Reviewed)
Revenue     Year 2019   3,120.0 2,966.7 314.8 1,162.0 720.4 288.3 153.3 399.0  
      Year 2018   2,632.7 2,577.8 210.1 950.8 666.9 229.0 54.9 351.0  
Cost of sales before amortisation     Year 2019   (1,513.9) (1,423.4) (242.2) (547.5) (315.4) (141.7) (90.4) (162.5)  
and depreciation     Year 2018   (1,412.6) (1,375.2) (271.7) (470.6) (308.8) (124.4) (37.4) (154.6)  
Cost of sales before gold inventory change and     Year 2019   (1,555.1) (1,466.4) (245.9) (568.9) (329.8) (150.4) (88.7) (168.4)  
amortisation and depreciation     Year 2018   (1,433.0) (1,391.4) (262.0) (483.8) (298.7) (143.5) (41.6) (160.3)  
– Gold inventory change     Year 2019   41.3 43.0 3.7 21.5 14.4 8.8 (1.7) 6.0  
      Year 2018   20.4 16.2 (9.6) 13.2 (10.1) 19.1 4.2 5.5  
Amortisation of mining assets     Year 2019   (642.0) (599.0) (32.9) (278.7) (181.8) (53.9) (43.0) (92.6)  
      Year 2018   (680.3) (664.7) (48.9) (283.7) (168.3) (99.9) (15.5) (81.8)  
Other expenses     Year 2019   (304.6) (296.5) (35.2) (80.4) (43.5) (28.9) (8.0) (17.7)  
      Year 2018   (62.9) (62.6) (19.5) 1.4 5.7 (3.9) (0.3) (8.4)  
Profit/(loss) before royalties and taxation     Year 2019   659.6 647.8 4.5 255.4 179.7 63.9 11.8 126.3  
      Year 2018   477.0 475.4 (130.0) 197.9 195.4 0.8 1.7 106.0  
Royalties, mining and income taxation     Year 2019   (252.8) (245.3) 1.8 (111.2) (78.3) (25.4) (7.5) (43.0)  
      Year 2018   (30.5) (27.8) 161.8 (17.4) (19.5) 4.8 (2.8) (61.5)  
– Normal taxation     Year 2019   (184.5) (184.5) (72.5) (72.5) (56.3)  
      Year 2018   (161.4) (161.4) (19.6) (19.6) (52.1)  
– Royalties     Year 2019   (81.4) (73.7) (1.6) (43.8) (25.8) (10.3) (7.7) (5.5)  
      Year 2018   (65.3) (62.5) (1.0) (31.3) (21.2) (7.3) (2.8) (5.1)  
– Deferred taxation     Year 2019   13.1 12.9 3.4 5.2 20.1 (15.1) 0.2 18.7  
      Year 2018   196.2 196.2 162.7 33.5 21.4 12.1 (4.3)  
Profit/(loss) before non-recurring items     Year 2019   406.8 402.5 6.4 144.1 101.4 38.4 4.3 83.3  
      Year 2018   446.4 447.4 31.7 180.6 175.9 5.6 (1.1) 44.5  
Non-recurring items     Year 2019   (26.1) (26.1) 0.8 (13.1) (0.1) (13.0) (0.2)  
      Year 2018   (407.8) (407.8) (256.5) (149.7) (135.8) (13.9) (2.0)  
Net profit/(loss)     Year 2019   380.7 376.4 7.2 131.1 101.3 25.5 4.3 83.1  
      Year 2018   38.7 39.6 (224.7) 30.9 40.1 (8.3) (1.1) 42.6  
Capital expenditure     Year 2019   (636.6) (609.8) (33.1) (228.6) (125.5) (76.3) (26.8) (56.1)  
      Year 2018   (677.7) (664.9) (58.3) (307.4) (156.1) (138.5) (12.8) (33.2)  
The average US Dollar/Rand exchange rates were US$1 = R14.46 for 2019 and US$1 = R13.20 for 2018.
The average Australian/US Dollar exchange rates were A$1 = US$0.70 for 2019 and A$1 = US$0.75 for 2018.
Figures may not add as they are rounded independently.
* Equity accounted Joint Venture comparatives for 2018 represent only five months since acquisition.

      United States Dollars
Figures in millions
unless otherwise stated

 
Australia
Region
Australia
Total St Ives Agnew Granny
Smith
Gruyere
50%
 
Operating Results (Unreviewed) Year 2019   9,089 4,466 1,231 1,753 1,639  
Ore milled/treated (000 tonnes) Year 2018   7,207 4,251 1,178 1,778  
Yield (grams per tonne) Year 2019   3.1 2.6 5.5 4.9 0.9  
  Year 2018   3.8 2.7 6.3 4.9  
Gold produced (000 managed equivalent ounces) Year 2019   914.3 370.6 219.4 274.8 49.5  
  Year 2018   886.4 366.9 239.1 280.4  
Gold sold (000 managed equivalent ounces) Year 2019   891.4 363.3 219.6 274.8 33.733  
  Year 2018   885.9 367.0 238.5 280.5  
Gold price received (dollar per equivalent ounce) Year 2019   1,396 1,390 1,387 1,396 1,5173  
  Year 2018   1,265 1,266 1,263 1,266
Cost of sales before gold inventory change and Year 2019   63 52 134 89 193  
amortisation and depreciation (dollar per tonne) Year 2018   73 47 136 94  
All-in-sustaining costs (dollar per ounce) Year 2019   986 963 1,152 922 6833  
original interpretation Year 2018   943 902 1,026 925  
All-in-sustaining costs (dollar per ounce) revised interpretation Year 2019   829 818 967 752 6833  
  Year 2018    
Total all-in-cost (dollar per ounce) Year 2019   986 963 1,152 922 6843  
  Year 2018   943 902 1,026 925  
Financial Results ($ millions) (Reviewed)                
Revenue Year 2019   1,244.3 504.9 304.5 383.7 51.23  
  Year 2018   1,120.8 464.7 301.1 355.0  
Cost of sales before amortisation and depreciation Year 2019   (561.6) (228.7) (162.0) (157.2) (13.7)3  
  Year 2018   (515.5) (185.9) (161.5) (168.1)  
Cost of sales before gold inventory change and amortisation and depreciation Year 2019   (571.7) (231.2) (164.5) (156.9) (19.1)3  
  Year 2018   (526.9) (200.9) (159.7) (166.3)  
— Gold inventory change Year 2019   10.2 2.5 2.6 (0.3) 5.43  
  Year 2018   11.4 14.9 (1.7) (1.8)  
Amortisation of mining asset Year 2019   (237.8)
  Year 2018   (265.8)
Other expenses Year 2019   (171.3)
  Year 2018   (36.5)
Profit/(loss) before royalties and taxation Year 2019   273.4
  Year 2018   303.0
Royalties, mining and income taxation Year 2019   (100.5)
  Year 2018   (113.2)
— Normal taxation Year 2019   (55.7)
  Year 2018   (89.6)
— Royalties Year 2019   (30.5)
  Year 2018   (27.9)
— Deferred taxation Year 2019   (14.2)
  Year 2018   4.3
Profit/(loss) before non-recurring items Year 2019   172.9
  Year 2018   189.8
Non-recurring items Year 2019   (13.7)
  Year 2018   0.3
Net profit/(loss) Year 2019   159.3
  Year 2018   190.2
Capital expenditure Year 2019   (318.7) (98.3) (76.1) (72.2) (72.1)
  Year 2018   (278.7) (127.2) (72.8) (78.8)
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 US Dollar and Australian Dollar.
2 For South Africa, all financial numbers are in US Dollar and US Dollar per ounce and Rand and Rand per kilogram.
3 Includes post commercial level data only.
Figures may not add as they are rounded independently.

        Australian Dollars       South
African
Rand
 
Figures in millions
unless otherwise stated

 
Australia
Region
      South Africa
Region
 
Australia      
Total St Ives Agnew Granny
Smith
Gruyere
50%
South
Deep
 
Operating Results (Unreviewed) Year 2019     9,089 4,466 1,231 1,753 1,639     1,666  
Ore milled/treated (000 tonnes) Year 2018     7,207 4,251 1,178 1,778     1,348  
Yield (grams per tonne) Year 2019     3.1 2.6 5.5 4.9 0.9     4.1  
  Year 2018     3.8 2.7 6.3 4.9     3.6  
Gold produced (000 managed equivalent ounces) Year 2019     914.3 370.6 219.4 274.8 49.5     6,907  
  Year 2018     886.4 366.9 239.1 280.4     4,885  
Gold sold (000 managed equivalent ounces) Year 2019     891.4 363.3 219.6 274.8 33.7     6,907  
  Year 2018     885.9 367.0 238.5 280.5     5,220  
Gold price received (dollar per equivalent ounce) Year 2019     2,007 1,998 1,994 2,007 2,181     659,111  
  Year 2018     1,694 1,695 1,690 1,694       531,253  
Cost of sales before gold inventory change and Year 2019     90 74 192 129 27     2,135  
amortisation and depreciation (dollar per tonne) Year 2018     98 63 182 125     2,564  
All-in-sustaining costs (dollar per ounce) Year 2019     1,418 1,385 1,656 1,325 983     585,482  
original interpretation Year 2018     1,262 1,207 1,374 1,239     807,688  
All-in-sustaining costs (dollar per ounce) revised interpretation Year 2019     1,192 1,176 1,391 1,081 983     585,482  
  Year 2018          
Total all-in-cost (dollar per ounce) Year 2019     1,418 1,385 1,656 1,325 983     585,482  
  Year 2018     1,262 1,207 1,374 1,239     854,049  
Financial Results ($ millions) (Reviewed)                        
Revenue Year 2019     1,789.1 726.0 437.8 551.7 73.6     4,552.5  
  Year 2018     1,500.5 622.1 403.1 475.3     2,772.9  
Cost of sales before amortisation and depreciation Year 2019     (807.5) (328.8) (232.9) (226.1) (19.7)     (3,502.6)  
  Year 2018     (690.2) (248.9) (216.2) (225.1)     (3,585.8)  
Cost of sales before gold inventory change and amortisation and depreciation Year 2019     (822.2) (332.5) (236.6) (225.6) (27.5)     (3,556.3)  
  Year 2018     (705.4) (268.9) (213.9) (222.6)     (3,458.7)  
— Gold inventory change Year 2019     14.6 3.6 3.7 (0.5) 7.8     53.7  
  Year 2018     15.2 20.0 (2.3) (2.5)     (127.1)  
Amortisation of mining asset Year 2019     (341.9)             (475.7)  
  Year 2018     (355.8)             (646.0)  
Other expenses Year 2019     (246.3)             (508.5)  
  Year 2018     (48.9)             (257.4)  
Profit/(loss) before royalties and taxation Year 2019     393.2             65.7  
  Year 2018     405.7             (1,716.4)  
Royalties, mining and income taxation Year 2019     (144.5)             26.6  
  Year 2018     (151.5)             2,152.5  
— Normal taxation Year 2019     (80.1)              
  Year 2018     (119.9)              
— Royalties Year 2019     (43.9)             (22.8)  
  Year 2018     (37.4)             (13.0)  
— Deferred taxation Year 2019     (20.5)             49.4  
  Year 2018     5.8             2,165.5  
Profit/(loss) before non-recurring items Year 2019     248.7             92.3  
  Year 2018     254.1             436.2  
Non-recurring items Year 2019     (19.7)             12.1  
  Year 2018     0.4             (3,445.4)  
Net profit/(loss) Year 2019     229.0             104.4  
  Year 2018     254.5             (3,009.2)  
Capital expenditure Year 2019     (458.4) (141.4) (109.5) (103.8) (103.7)     (479.1)  
  Year 2018     (373.2) (170.3) (97.5) (105.4)     (769.9)  
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 US Dollar and Australian Dollar.
2 For South Africa, all financial numbers are in US Dollar and US Dollar per ounce and Rand and Rand per kilogram.
3 Includes post commercial level data only.
Figures may not add as they are rounded independently.