Wrap Text
Unaudited results for the six months ended 30 June 2020
Gold Fields Limited
Incorporated in the Republic of South Africa)
Registration Number 1968/004880/06)
JSE, NYSE, DIFX Share Code: GFI
ISIN: ZAE000018123
"Gold Fields" or “the Company”)
UNAUDITED RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2020 – SHORT FORM ANNOUNCEMENT
Gold Fields is a globally diversified gold producer with nine operating mines
(including our Asanko Joint Venture) in Australia, Ghana, Peru and South Africa and the
Salares Norte project in Chile.
Gold Fields NYSE & JSE: GFI) today announced profit attributable to owners of the parent
for the six months to 30 June 2020 of US$156m (US$0.18 per share). This compared with
profit of US$71m (US$0.09 per share) for the six months to 30 June 2019. Normalised profit
of US$323m for the six months to 30 June 2020 compared with profit of US$126m for the six
months to 30 June 2019.
Key statistics
Figures in millions unless otherwise stated June 2020 June 2019
Figures in millions unless otherwise stated
Gold produced* oz (000) 1,087 1,083
Tonnes milled/treated 000 21,573 17,915
Revenue (excluding Asanko) US$/oz 1,637 1,298
Cost of sales before gold inventory change and
amortisation and depreciation (excluding Asanko) US$/tonne 37 42
All-in sustaining costs# US$/oz 987 891
Total all-in cost# US$/oz 1,065 1,106
Net debt US$m 1,239 1,794
Net debt to EBITDA ratio US$m 0.84 1.59
Cash flow from operating activities less net
Capital expenditure, environmental payments,
lease payments and redemption of Asanko
preference shares US$m 320.3 80.1
Profit attributable to owners of the parent US$m 155.5 70.5
Profit per share attributable to owners of
the parent US c.p.s. 18 9
Headline earnings attributable to owners of
the parent US$m 173.4 39.9
Headline earnings per share attributable to
owners of the parent US c.p.s. 20 5
Normalised profit attributable to owners of
the parent US$m 323.4 126.2
Normalised profit per share attributable to
owners of the parent US c.p.s. 37 15
* Gold produced in this table is attributable and includes Gold Fields share of
45% in Asanko.
All operations are wholly owned except for Tarkwa and Damang in Ghana (90.0%), 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 7% of Group production.
Cash dividend
In line with the Company’s dividend policy, the Board has approved and declared an
interim dividend number 92 of 160 SA cents per ordinary share (gross) in respect of the
six months ended 30 June 2020 (Interim 2019: 60 SA cents per ordinary share). The
interim dividend will be subject to the Dividend Withholding Tax of 20 per cent. In
accordance with paragraphs 11.17(a) (i) and 11.17(c) of the JSE Listings Requirements,
the following additional information is disclosed:
• The dividend has been declared out of income reserves;
• The gross local dividend amount is 160 SA cents per ordinary share for shareholders
exempt from dividends tax;
• The Dividend Withholding Tax of 20 per cent (twenty per centum) will be applicable to
this dividend;
• The net local dividend amount is 128 SA cents per ordinary share for shareholders
liable to pay the dividends tax;
• Gold Fields currently has 883,333,518 ordinary shares in issue; and
• Gold Fields’ income tax number is 9160035607.
Shareholders are advised of the following dates in respect of the final dividend:
• Interim dividend number 92: 160 SA cents per share;
• Last date to trade cum-dividend: Tuesday, 8 September 2020;
• Sterling and US dollar conversion date: Wednesday, 9 September 2020;
• Shares commence trading ex-dividend: Wednesday, 9 September 2020;
• Record date: Friday, 11 September 2020; and
• Payment of dividend: Monday, 14 September 2020.
Share certificates may not be dematerialised or rematerialised between Wednesday, 9
September 2020 and Friday, 11 September 2020, both dates inclusive.
This short-form announcement is the responsibility of the directors and is only a
summary of the information in the full results. The full results can be found on the
Company's website at www.goldfields.com and on the JSE website at
https://senspdf.jse.co.za/documents/2020/jse/isse/GFIE/GoldFields.pdf
Copies of the full announcement may also be requested at the Company's registered
office, at no charge, during office hours.
Any investment decision should be based on the full announcement published on SENS and
on the Company's website.
https://www.goldfields.com/reports/q2-2020/index.php
The interim results and the information in this announcement have not been reviewed or
reported on by the Company’s external auditors.
By order of the board
CA Carolus (Chair)
20 August 2020
Executive Directors: N J Holland†(Chief Executive Officer), P A Schmidt (Chief Financial
Officer)
Non-Executive Directors: A Andani#, P J Bacchus†, T P Goodlace, C E Letton^, P
Mahanyele–Dabengwa, R P Menell, S P Reid^, Y G H Suleman
^Australian, †British, #Ghanaian
www.goldfields.com
Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd
Company secretary:
A Weststrate
Transfer secretaries:
Computershare Investor Services (Proprietary) Limited
Date: 20-08-2020 07:05:00
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