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GOLD FIELDS LIMITED - Trading statement for H1 2019

Release Date: 02/08/2019 08:25
Code(s): GFI     PDF:  
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Trading statement for H1 2019

Gold Fields Limited
(Reg. No. 1968/004880/06)
(Incorporated in the Republic of South Africa)
(“Gold Fields” or “the Company”)

ISIN Code: ZAE000018123


Trading statement for H1 2019

Johannesburg, 2 August 2019: Gold Fields Limited (Gold Fields) (JSE,
NYSE: GFI) advises that basic earnings per share for the six months ended 30
June 2019 (H1 2019) is expected to be between US¢8.0-10.0 per share, an
improvement of US¢53.0-55.0 per share (118-122%) from the basic loss of
US¢45.0 per share reported for the six months ended 30 June 2018 (H1 2018).

Headline earnings per share (HEPS) for H1 2019 are expected to be 10-15%
(US¢0.8-1.2 per share) lower at US¢6.8-7.2 per share from the US¢8 per share
reported for H1 2018

Normalised earnings for H1 2019 are expected to be US¢13.0-17.0 per share,
160-240% (US¢8.0-12.0 per share) higher than the US¢5.0 per share reported
for H1 2018.

Attributable gold equivalent production for the six months ended 30 June
2019 increased by 9% YoY to 1,083koz (H1 2018: 994koz), mainly due to the
inclusion of the contribution from Asanko in H1 2019.
On 14 November 2018, the World Gold Council (WGC) published an update to its
guidance on the interpretation of all-in sustaining costs (AISC) and all-in
costs (AIC). Gold Fields has adopted the revision prospectively from 1
January 2019. Based on the revised WGC guidance, AISC for the Group is
US$891/oz for H1 2019. On the previous interpretation, AISC for the period
was US$973/oz (H1 2018: US$965/oz), marginally higher YoY.

AIC for H1 2019 was 5% lower YoY at US$1,106/oz (H1 2018: US$1,169/oz) as
project capital started to decrease. AIC reporting was not affected by the
revised WGC guidance.

For Q2 2019 attributable group gold-equivalent production was 541koz (Q1
2019: 542koz), with AISC (new interpretation) of US$910/oz (Q1 2019:
US$871/oz); AISC (previous interpretation) of US$985/oz (Q1 2019: US$963/oz)
and AIC of US$1,132/oz (Q1 2019: US$1,080/oz).

The financial information on which this trading statement is based has not
been reviewed, and reported on, by the Company’s external auditors.

Gold Fields will release H1 2019 financial results on Thursday, 15 August


Avishkar Nagaser
Tel: +27 11 562-9775
Mobile: +27 82 312 8692
Email :

Thomas Mengel
Tel: +27 11 562 9849
Mobile: +27 72 493 5170


Sven Lunsche
Tel: +27 11 562-9763
Mobile: +27 83 260 9279
Email :


Notes to editors

About Gold Fields

Gold Fields Limited is a globally diversified gold producer with eight
operating mines (including our Asanko Joint Venture) and projects in
Australia, Chile, Ghana, Peru and South Africa, with total attributable
annual gold-equivalent production of approximately 2Moz. It has attributable
gold Mineral Reserves of around 48.1Moz and gold Mineral Resources of around
96.6Moz. Attributable copper Mineral Reserves total 691 million pounds and
Mineral Resources 4,816 million pounds. Gold Fields has a primary listing on
the Johannesburg Stock Exchange (JSE) Limited, with a secondary listing on
the New York Stock Exchange (NYSE).

Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd

Date: 02/08/2019 08:25:00
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