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Reviewed Results | Year ended 31 December 2021

The preliminary financial statements are presented on a condensed consolidated basis.

Financials Income statement

 

   United States Dollars 
   Year ended 
Figures in millions unless otherwise stated  Dec 2021 
(Reviewed)
   Dec 2020 
(Audited)
  
Revenue    4,195.2       3,892.1    
Cost of sales  (2,374.9)    (2,150.4)   
Cost of sales before amortisation and depreciation  (1,661.7)    (1,489.1)   
Cost of sales before gold inventory change and amortisation and depreciation  (1,784.5)    (1,554.6)   
Gold inventory change    122.8       65.5    
Amortisation and depreciation  (713.2)    (661.3)   
Net interest expense  (82.9)    (105.8)   
Equity accounted loss, after taxation  (32.0)    (2.6)   
Share of results of equity accounted investees, after taxation    20.8       46.9    
Share of results of equity accounted investees – Asanko impairment  (52.8)    (49.5)   
(Loss)/gain on foreign exchange  (1.9)      8.6    
Loss on financial instruments  (100.4)    (238.9)   
Share-based payments  (12.7)    (14.5)   
Long-term incentive plan  (28.5)    (51.3)   
Other costs, net  (45.5)    (38.7)   
Exploration expenses  (60.6)    (49.7)   
Profit before royalties, taxation and non-recurring items    1,455.8       1,248.8    
Non-recurring items  (89.0)      34.1    
Profit before royalties and taxation    1,366.8       1,282.9    
Royalties  (112.4)    (105.0)   
Profit before taxation    1,254.4       1,177.9    
Mining and income taxation  (424.9)    (432.5)   
Normal taxation  (448.6)    (366.5)   
Deferred taxation    23.7     (66.0)   
Profit for the year    829.5       745.4    
Attributable to:             
Owners of the parent    789.3       723.0    
Non-controlling interest    40.2       22.4    
Diluted profit attributable to owners of the parent    781.9       719.3    
Profit per share (cents) attributable to owners of the parent  89     82    
Diluted profit per share (cents) attributable to owners of the parent  88     81    
Non-IFRS measures and other disclosures             
Non-recurring items:             
Profit/(loss) on disposal of assets    8.5     (0.2)   
Restructuring costs  (1.3)    (2.0)   
Damang – contract termination       (1.1)   
Salares VAT         23.9    
COVID-19 donations  (1.4)    (2.7)   
Silicosis provision adjusted    0.7     (0.3)   
Ghana expected credit loss  (41.1)    (29.0)   
(Impairment)/reversal of impairment of FSE  (30.8)      62.3    
Impairment of investments and assets  (11.6)    (11.7)   
Other  (12.0)    (5.1)   
Total non-recurring items  (89.0)      34.1    
Taxation on items above    4.8       6.1    
Non-recurring items after tax  (84.2)      40.2    
Headline earnings attributable to owners of the parent    890.0       729.3    
Diluted headline earnings attributable to owners of the parent    882.6       725.6    
Headline earnings per share (cents) attributable to owners of the parent  100     83    
Diluted headline earnings per share (cents) attributable to owners of the parent  99     82    
Normalised profit attributable to owners of the parent    928.7       878.8    
Normalised profit per share (cents) attributable to owners of the parent  105     100    
US Dollar/South African Rand conversion rate    14.79       16.38    
Australian Dollar/US Dollar conversion rate    0.75       0.69    

Figures may not add as they are rounded independently.

The condensed consolidated financial statements for the year ended 31 December 2021 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.