United States Dollars | ||||||
Quarter | Year ended | |||||
Figures in millions unless otherwise stated | December 2021 |
September 2021 |
December 2020 |
December 2021 |
December 2020 |
|
Gold produced* | oz (000) | 631 | 606 | 593 | 2,340 | 2,236 |
---|---|---|---|---|---|---|
Tonnes milled/treated | 000 | 10,586 | 10,638 | 10,700 | 42,229 | 42,706 |
Revenue (excluding Asanko) | US$/oz | 1,805 | 1,770 | 1,866 | 1,794 | 1,768 |
Cost of sales before gold inventory change and amortisation and depreciation (excluding Asanko) | US$/tonne | 48 | 45 | 40 | 45 | 39 |
All-in sustaining costs# | US$/oz | 1,055 | 1,016 | 971 | 1,063 | 977 |
Total all-in cost# | US$/oz | 1,369 | 1,263 | 1,113 | 1,297 | 1,079 |
Net debt | US$m | 969 | 1,037 | 1,069 | 969 | 1,069 |
Net debt (excluding lease liabilities) | US$m | 553 | 620 | 640 | 553 | 640 |
Net debt to adjusted EBITDA ratio | 0.40 | 0.44 | 0.56 | 0.40 | 0.56 | |
Cash flow from operating activities less net capital expenditure, environmental payments, lease payments and redemption of Asanko preference shares | US$m | 463 | 631 | |||
Profit attributable to owners of the parent | US$m | 789.3 | 723.0 | |||
Profit per share attributable to owners of the parent | US c.p.s. | 89 | 82 | |||
Headline earnings attributable to owners of the parent | US$m | 890.0 | 729.3 | |||
Headline earnings per share attributable to owners of the parent | US c.p.s. | 100 | 83 | |||
Normalised profit attributable to owners of the parent | US$m | 928.7 | 878.8 | |||
Normalised profit per share attributable to owners of the parent | US c.p.s. | 105 | 100 |
* | Gold produced in this table is attributable and includes Gold Fields’ share of 45% in Asanko. |
# | Refer to All-in Costs (Unreviewed) |
At 31 December 2021, all operations are wholly owned except for Tarkwa and Damang in Ghana (90.0%), South Deep in South Africa (96.43%), Cerro Corona in Peru (99.5%), Gruyere JV (50%) and Asanko JV (45% equity share). Gold produced and sold throughout this report includes copper gold equivalents of approximately 6% of Group production. All-in sustaining costs and total all-in cost in the key statistics table include all Gold Fields operations, projects and offices. The tables on Fair Value Hierarchy (Reviewed) and Underground and Surface present only the mining operations. Figures may not add as they are rounded independently. |
Pro forma financial information
This media release contains certain non-IFRS financial measures in respect of the Group’s financial performance, the statement of financial position and cash flows presented in order to provide users with relevant information and measures used by the Group to assess performance. Non-IFRS financial measures are financial measures other than those defined or specified under all relevant accounting standards. To the extent that these measures are not extracted from the segment disclosure included in the reviewed condensed consolidated financial statements of Gold Fields Limited for the year ended 31 December 2021, these measures constitute pro forma financial information in terms of the JSE Listings Requirements and are the responsibility of the Group’s Board of Directors. They are presented for illustrative purposes only and due to their nature, may not fairly present Gold Fields’ financial position, changes in equity, results of operations or cash flows. In addition, these measures may not be comparable to similarly titled measures used by other companies.
The key non-IFRS measures used include normalised profit attributable to the owners of the parent, normalised profit per share attributable to the owners of the parent, net debt (including and excluding lease liabilities), adjusted EBITDA, adjusted free cash flow margin for LTIP purposes, sustaining capital expenditure, non-sustaining capital expenditure, adjusted free cash flow, adjusted free cash flow from operations, all-in sustaining and total all-in costs. The applicable criteria on the basis of which this information has been prepared is set out in the notes accompanying the media release.
This pro forma financial information has been reported on by the Group’s auditors, being PricewaterhouseCoopers Inc. Their unqualified reporting accountant’s report thereon is on Independent Auditor's Review Report On Condensed Consolidated Financial Statements of this report.
Number of shares in issue | NYSE – (GFI) | |||
– at 31 December 2021 | 887,717,348 | Range – Year | US$7.75 – US$12.21 | |
– average for the year | 887,306,342 | Average Volume – Year | 6,289,319 shares/day | |
Free float | 100 per cent | JSE LIMITED – (GFI) | ||
ADR ratio | 1:1 | Range – Year | ZAR117.26 – ZAR188.30 | |
Bloomberg/Reuters | GFISJ/GFLJ.J | Average volume – Year | 3,241,695 shares/day |