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)                    
Ore milled/treated (000 tonnes) Year 2020  42,706  40,032  2,258  21,707  14,234  4,798  2,674  6,796   
  Year 2019  38,342  35,868  1,666  20,868  13,749  4,645  2,474  6,718   
Yield (grams per tonne) Year 2020  1.7  1.7  3.1  1.2  1.1  1.4  1.3  0.9   
  Year 2019  1.8  1.9  4.1  1.3  1.2  1.4  1.4  1.4   
Gold produced (000 managed equivalent ounces) Year 2020  2,312.4  2,200.0  226.9  861.7  526.3  223.0  112.5  207.1   
  Year 2019  2,269.5  2,156.5  222.1  840.4  519.1  208.4  113.0  292.7   
Gold sold (000 managed equivalent ounces) Year 2020  2,311.8  2,202.1  226.9  858.9  526.3  223.0  109.7  205.5   
  Year 2019  2,249.8  2,137.8  222.1  839.4  519.1  208.4  112.0  296.9   
Gold price received (dollar per equivalent ounce) Year 2020  1,765  1,768  1,763  1,766  1,763  1,798  1,715  1,795   
  Year 2019  1,387  1,388  1,418  1,384  1,388  1,384  1,369  1,344   
Cost of sales before gold inventory change and amortisation and depreciation (dollar per tonne) Year 2020  39  39  101  29  21  49  40  23   
  Year 2019  41  41  148  27  24  32  36  25   
All-in-sustaining costs (dollar per ounce) revised interpretation  Year 2020  969  961  1,237  1,027  1,017  1,008  1,114  484   
  Year 2019  885  873  1,259  942  958  809  1,112  381   
Total all-in-cost (dollar per ounce) Year 2020  1,014  999  1,260  1,060  1,017  1,035  1,316  715   
  Year 2019  997  985  1,259  1,039  958  1,147  1,214  472   
Financial results (US$ millions) (Reviewed)                    
Revenue  Year 2020  4,080.2  3,892.1  400.1  1,516.7  927.7  400.8  188.2  368.8   
  Year 2019  3,120.0  2,966.7  314.8  1,162.0  720.4  288.3  153.3  399.0   
Cost of sales before amortisation and depreciation  Year 2020  (1,583.4) (1,489.3) (229.0) (562.9) (297.0) (171.9) (94.1) (154.4)   
  Year 2019  (1,513.9) (1,423.4) (242.2) (547.5) (315.4) (141.7) (90.4) (162.5)  
Cost of sales before gold inventory change and amortisation and depreciation  Year 2020  (1,661.9) (1,554.7) (227.2) (634.8) (294.5) (233.1) (107.1) (158.3)   
  Year 2019  (1,555.1) (1,466.4) (245.9) (569.0) (329.8) (150.4) (88.7) (168.4)  
– Gold inventory change  Year 2020  78.5  65.5  (1.8) 71.8  (2.4) 61.2  13.0  3.9   
  Year 2019  41.3  43.0  3.7  21.4  14.4  8.8  (1.7) 6.0   
Amortisation of mining assets  Year 2020  (672.2) (649.3) (29.1) (266.7) (168.2) (75.6) (22.9) (77.6)   
  Year 2019  (642.0) (599.0) (32.9) (278.7) (181.8) (53.9) (43.0) (92.6)  
Other expenses  Year 2020  (516.7) (514.4) (91.1) (128.5) (83.9) (42.3) (2.3) (32.2)   
  Year 2019  (304.6) (296.5) (35.2) (80.4) (43.5) (28.9) (8.0) (17.7)  
Profit/(loss) before royalties and taxation  Year 2020  1,307.9  1,239.1  50.9  558.5  378.7  111.0  68.8  104.6   
  Year 2019  659.6  647.8  4.5  255.4  179.7  63.9  11.8  126.3   
Royalties, mining and income taxation  Year 2020  (511.5) (502.1) (15.9) (238.2) (173.9) (54.9) (9.4) (48.4)   
  Year 2019  (252.8) (245.3) 1.8  (111.2) (78.3) (25.4) (7.5) (43.0)  
– Normal taxation  Year 2020  (347.8) (347.8) –  (129.6) (129.6) –  –  (52.2)   
  Year 2019 (184.5) (184.5) –  (72.5) (72.5) –  –  (56.3)  
– Royalties  Year 2020  (114.4) (105.0) (2.0) (62.5) (37.1) (16.0) (9.4) (5.6)   
  Year 2019  (81.4) (73.7) (1.6) (43.9) (25.8) (10.3) (7.7) (5.5)  
– Deferred taxation  Year 2020  (49.3) (49.3) (13.9) (46.1) (7.2) (38.9) –  9.4   
  Year 2019  13.1  12.9  3.4  5.2  20.1  (15.1) 0.2  18.7   
Profit/(loss) before non-recurring items  Year 2020  796.5  737.0  35.0  320.3  204.8  56.1  59.4  56.2   
  Year 2019  406.8  402.5  6.4  144.2  101.4  38.4  4.3  83.3   
Non-recurring items  Year 2020  (47.9) (47.9) 0.3  (42.2) (31.3) (10.9) –  (2.3)   
  Year 2019  (26.1) (26.1) 0.8  (13.1) (0.1) (13.0) –  (0.2)  
Net profit/(loss) Year 2020  748.5  689.1  35.3  278.1  173.5  45.2  59.4  53.9   
  Year 2019  380.7  376.4  7.2  131.1  101.3  25.5  4.3  83.1   
Capital expenditure  Year 2020  (517.0) (485.8) (49.1) (198.2) (147.2) (19.9) (31.2) (49.9)  
  Year 2019  (636.6) (609.8) (33.1) (228.6) (125.5) (76.3) (26.8) (56.1)  

The average US Dollar/Rand exchange rates were US$1 = R16.38 for 2020 and US$1 = R14.46 for 2019.
The average Australian/US Dollar exchange rates were A$1 = US$0.69 for 2020 and A$1 = US$0.70 for 2019.
Figures may not add as they are rounded independently.

    United States Dollars     
    United  States  Dollars  Australian  Dollars  South 
African 
Rand
 
 
    Australia  Australia 
Region1
South 
Africa 
Region2
 
Figures in millions unless otherwise stated    Total  St Ives  Agnew  Granny 
Smith
 
Gruyere 
50%
 
Total  St Ives  Agnew  Granny 
Smith
 
Gruyere 
50%
 
South
Deep
 
 
Operating results (Unreviewed)                          
Ore milled/treated (000 tonnes) Year 2020  11,946  4,817  1,357  1,719  4,054  11,946  4,817  1,357  1,719  4,054  2,258   
  Year 2019  9,089  4,466  1,231  1,753  1,639  9,089  4,466  1,231  1,753  1,639  1,666   
Yield (grams per tonne) Year 2020  2.6  2.5  5.3  4.9  1.0  2.6  2.5  5.3  4.9  1.0  3.1   
  Year 2019  3.1  2.6  5.5  4.9  0.9  3.1  2.6  5.5  4.9  0.9  4.1   
Gold produced (000 managed equivalent ounces) Year 2020  1,016.8  384.9  233.3  269.6  129.1  1,016.8  384.9  233.3  269.6  129.1  7,056   
  Year 2019  914.3  370.6  219.4  274.8  49.5  914.3  370.6  219.4  274.8  49.5  6,907   
Gold sold (000 managed equivalent ounces) Year 2020  1,020.5  393.8  233.5  265.2  128.03 1,020.5  393.8  233.5  265.2  128.03 7,056   
  Year 2019  891.4  363.3  219.6  274.8  33.73 891.4  363.3  219.6  274.8  33.73 6,907   
Gold price received (dollar per equivalent ounce) Year 2020  1,759  1,756  1,762  1,758  1,7623 2,551  2,547  2,557  2,551  2,5573 928,707   
  Year 2019  1,396  1,390  1,387  1,396  1,5173 2,007  1,998  1,994  2,007  2,1813 659,111   
Cost of sales before gold inventory change and amortisation and depreciation (dollar per tonne) Year 2020  54  50  116  99  183 78  72  168  144  263 1,648   
  Year 2019  63  52  134  89  193 90  74  192  129  273 2,135   
All-in sustaining costs
(dollar per ounce) revised
interpretation 
Year 2020  917  843  1,017  938  9213 1,331  1,223  1,475  1,360  1,3373 651,514   
  Year 2019  829  818  967  752  6833 1,192  1,176  1,391  1,081  9833 585,482   
Total all-in-cost
(dollar per ounce)
Year 2020  957  873  1,053  1,010  9313 1,388  1,266  1,528  1,465  1,3503 663,635   
  Year 2019  986  963  1,152  922  6843 1,418  1,385  1,656  1,325  9833 585,482   
Financial results (US$ millions) (Reviewed)                          
Revenue  Year 2020  1,794.7  691.4  411.5  466.4  225.43 2,603.8  1,003.0  597.0  676.7  327.23 6,552.9   
  Year 2019  1,244.2  504.9  304.5  383.7  51.23 1,789.1  726.0  437.8  551.7  73.63 4,552.5   
Cost of sales before amortisation and depreciation  Year 2020  (637.1) (234.1) (162.8) (167.1) (73.1)3 (924.1) (339.5) (236.1) (242.5) (106.1)3 (3,750.6)  
  Year 2019  (561.6) (228.7) (162.0) (157.2) (13.7)3 (807.5) (328.8) (232.9) (226.1) (19.7)3 (3,502.6)  
Cost of sales before gold inventory change and amortisation and depreciation  Year 2020  (641.6) (240.7) (157.3) (170.2) (73.4)3 (930.7) (349.1) (228.2) (246.9) (106.5)3 (3,721.7)  
  Year 2019  (571.8) (231.2) (164.5) (156.9) (19.1)3 (822.1) (332.5) (236.6) (225.6) (27.5)3 (3,556.3)  
– Gold inventory change  Year 2020  4.5  6.6  (5.4) 3.1  0.33 6.6  9.6  (7.9) 4.5  0.43 (28.9)  
  Year 2019  10.2  2.5  2.6  (0.3) 5.43 14.6  3.6  3.7  (0.5) 7.83 53.7   
Amortisation of mining assets  Year 2020  (298.8) (433.4) (476.0)  
  Year 2019  (237.8)         (341.9)         (475.7)  
Other expenses  Year 2020  (264.9) (384.3) (1,492.0)  
  Year 2019  (171.3)         (246.3)         (508.5)  
Profit/(loss) before royalties and taxation  Year 2020  593.9  862.0  834.3   
  Year 2019  273.4          393.2          65.7   
Royalties, mining and income taxation  Year 2020  (208.9) (303.1) (260.9)  
  Year 2019  (100.5)         (144.5)         26.6   
– Normal taxation  Year 2020  (166.0) (240.8) –   
  Year 2019  (55.7)         (80.1)         –   
– Royalties  Year 2020  (44.3) (64.2) (32.8)  
  Year 2019  (30.5)         (43.9)         (22.8)  
– Deferred taxation  Year 2020  1.3  2.0  (228.1)  
  Year 2019  (14.2)         (20.5)         49.4   
Profit/(loss) before non-recurring items  Year 2020  384.9  558.9  573.5   
  Year 2019  172.9          248.7          92.3   
Non-recurring items  Year 2020  (3.8) (5.4) 5.2   
  Year 2019  (13.7)         (19.7)         12.1   
Net profit/(loss) Year 2020  381.2  553.4  578.6   
  Year 2019  159.3          229.0          104.4   
Capital expenditure  Year 2020  (219.8) (73.5) (51.9) (66.4) (28.0) (318.8) (106.5) (75.3) (96.4) (40.6) (803.9)  
  Year 2019  (318.8) (98.3) (76.1) (72.2) (72.1) (458.4) (141.4) (109.5) (103.8) (103.7) (479.1)  

At the Australian operations, 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 cost of sales.

1 For Australia, all financial numbers are in Australian Dollar.
2 For South Africa, all financial numbers are in Rand and Rand per kilogram.
3 Includes post commercial level data only.

Figures may not add as they are rounded independently.