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  Dec 2020 
(Reviewed)
   Dec 2019 
(Audited)
  
Revenue  3,892.1     2,967.1    
Cost of sales  (2,150.4)    (2,033.5)   
Cost of sales before amortisation and depreciation  (1,489.1)    (1,423.5)   
Cost of sales before gold inventory change and amortisation and depreciation  (1,554.6)    (1,466.5)   
Gold inventory change  65.5     43.0    
Amortisation and depreciation  (661.3)    (610.0)   
Net interest expense  (105.8)    (81.9)   
Equity accounted (loss)/income, after taxation  (2.6)    3.1    
Share of results of equity accounted investees, after taxation  46.9     3.1    
Share of results of equity accounted investees - Asanko impairment  (49.5)    –    
Gain/(loss) on foreign exchange  8.6     (5.2)   
Loss on financial instruments  (238.9)    (238.0)   
Share-based payments  (14.5)    (20.5)   
Long-term incentive plan  (51.3)    (9.1)   
Other costs, net  (38.7)    (49.8)   
Exploration and project expenses  (49.7)    (84.4)   
Profit before royalties, taxation and non-recurring items  1,248.8     447.8    
Non-recurring items  34.1     (23.8)   
Profit before royalties and taxation  1,282.9     424.0    
Royalties  (105.0)    (73.7)   
Profit before taxation  1,177.9     350.3    
Mining and income taxation  (432.5)    (175.6)   
Normal taxation  (366.5)    (190.6)   
Deferred taxation  (66.0)    15.0    
Profit for the year  745.4     174.7    
Attributable to: 
Owners of the parent  723.0     161.6    
Non-controlling interest  22.4     13.1    
Diluted profit attributable to owners of the parent  719.3     161.6    
Profit per share (cents) attributable to owners of the parent  82     20    
Diluted profit per share (cents) attributable to owners of the parent  81     19    
Non-IFRS measures and other disclosures 
Non-recurring items: 
Profit on disposal of Maverix  –     14.6    
(Loss)/profit on disposal of assets  (0.2)    1.2    
Restructuring costs  (2.0)    (0.6)   
Damang - contract termination  (1.1)    (13.1)   
Salares VAT  23.9     –    
COVID-19 donations  (2.7)    –    
Loss on buy-back of bond  –     (5.0)   
Silicosis provision adjusted  (0.3)    1.6    
Tarkwa expected credit loss  (29.0)    –    
Reversal of impairment/(impairment) of FSE  62.3     (9.6)   
Impairment of investments and assets  (11.7)    (0.2)   
Other  (5.1)    (12.7)   
Total non-recurring items  34.1     (23.8)   
Taxation on items above  6.1     7.8    
Non-recurring items after tax  40.2     (16.0)   
Headline earnings attributable to owners of the parent  729.3     162.7    
Diluted headline earnings attributable to owners of the parent  725.6     162.7    
Headline earnings per share (cents) attributable to owners of the parent  83     20    
Diluted headline earnings per share (cents) attributable to owners of the parent  82     19    
Normalised profit attributable to owners of the parent  878.8     343.4    
Normalised profit per share (cents) attributable to owners of the parent  100     42    
US Dollar/South African Rand conversion rate  16.38     14.46    
Australian Dollar/US Dollar conversion rate  0.69     0.70    

Figures may not add as they are rounded independently.

The condensed consolidated financial statements for the year ended 31 December 2020 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.