1
MARKET RELEASE
Updated trading statement for the year ended 31 December 2017
Johannesburg, 21 February 2018: In terms of paragraph 3.4(b) of the Listings Requirements of
the JSE Limited (JSE), a company listed on the JSE is required to publish a trading statement as
soon as they are satisfied that a reasonable degree of certainty exists that the financial results
for the period to be reported upon next, will differ by at least 20% from the financial results for
the previous corresponding period.
Shareholders are advised that the Group expects to report an attributable loss of R4,437 million
(US$333 million) for the year ended 31 December 2017, compared with attributable earnings
of R3,473 million (US$237 million) for the year ended 31 December 2016 (comparative period).
The attributable loss is due to a number of factors, primarily in the first half of the year, which
resulted in an attributable loss of R4,804 million (US$364 million) for the six months ended
30 June 2017. These factors include: impairments, provision for occupational healthcare claims,
restructuring and transaction costs and significant differences in commodity prices and the
average rand:dollar exchange rate year-on-year. A R2,179 million gain on acquisition which
was recognised during the comparative period, was also a significant contributing factor to
the year-on-year difference.
Normalised earnings of R522 million (US$39 million) for the second half of 2017 was significantly
higher than the R1,002 million (US$76 million) normalised loss for the first half of the year,
resulting in a normalised loss of R480 million (US$36 million) for the year ended 31 December
2017 compared with normalised earnings of R3,678 million (US$251 million) for the comparative
period.
Earnings per share (EPS) and headline earnings per share (HEPS) for the period, are further
affected by the rights offer and capitalisation issue.
As a result, the Group expects to report a loss per share of 229 cents (17 US cents) for the year
ended 31 December 2017 and a headline loss per share of 12 cents (1 US cents). EPS and HEPS
for the comparative period (adjusted to reflect the bonus element of the rights issue and
capitalisation issue, and revised to reflect the adjustment of initial accounting in respect of
the Rustenburg Operations) were 225 cents (15 US cents) and 162 cents (8 US cents),
respectively. This represents a 202% decrease in respect of EPS and a 107% decrease in respect
of HEPS.
Sibanye Gold Limited
Trading as Sibanye-Stillwater
Reg. 2002/031431/06
Incorporated in the Republic of South Africa
Share codes: SGL (JSE) and SBGL (NYSE)
ISIN – ZAE000173951
Issuer code: SGL
(“Sibanye-Stillwater”,”the Company” and/or “the Group”)
Registered Address:
Constantia Office Park
Bridgeview House • Building 11 • Ground Floor
Cnr 14th Avenue & Hendrik Potgieter Road
Weltevreden Park • 1709
Postal Address:
Private Bag X5 • Westonaria • 1780
Tel +27 11 278 9600 • Fax +27 11 278 9863