Media releaseReviewed 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.