Directors: C A Carolus (Chair), N J Holland
†
** (Chief Executive Officer), P A Schmidt** (Chief Financial Officer), 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, ** Executive Director
Company Secretary: A Weststrate
Gold Fields Limited
Reg. 1968/004880/06
150 Helen Road,
Sandown, Sandton,
2196
Postnet Suite 252
Private Bag X30500
Houghton, 2041
South Africa
Tel +27 11 562 9700
Fax +27 11 562 9838
www.goldfields.com
Investor Enquiries
Avishkar Nagaser
Tel
+27 11 562 9775
Mobile +27 82 312 8692
email
Avishkar.Nagaser@
goldfields.com
Thomas Mengel
Tel
+27 11 562 9849
Mobile +27 72 493 5170
email
Thomas.Mengel@
goldfields.com
Media Enquiries
Sven Lunsche
Tel
+27 11 562 9763
Mobile +27 83 260 9279
email
Sven.Lunsche@
goldfields.com
M E D I A R E L E A S E
Trading statement for H1 2020
Johannesburg, 5 August 2020: Gold Fields Limited (Gold Fields)
(JSE, NYSE: GFI) advises that basic earnings per share for the six
months ended 30 June 2020 (H1 2020) are expected to be between
US¢17.1-18.9 per share, an increase of 90-110% (US¢8.1-9.9 per
share) from the basic earnings of US¢9.0 per share reported for the
six months ended 30 June 2019 (H1 2019).
Headline earnings per share (HEPS) for H1 2020 are expected to be
US¢19.5-20.5 per share, 290-310% (US¢14.5-15.5 per share) higher
than the US¢5.0 per share reported for H1 2019.
Normalised earnings for H1 2020 are expected to be US¢35.5-38.5 per
share, 137-157% (US¢20.5-23.5 per share) higher than the
US¢15.0 per share reported for H1 2019.
The increase in earnings for the period is driven largely by the increase
in the gold price received.
Attributable gold equivalent production for the six months ended
30 June 2020 increased marginally YoY to 1,087koz (H1 2019:
1,083koz), with the contribution from Gruyere (only commenced
production in July 2019) and increased production days, largely offset
by the impact of Covid-19 stoppages at South Deep and Cerro Corona
as well as the impact of the lower copper price at Cerro Corona, which
resulted in lower gold equivalent ounces.
The increase in production days relates to a decision that was taken,
during Q2 2020, to align the production months with the calendar
months, which resulted in an extra 10 production days in H1 2020.
These 10 extra production days also impacted Q2 2020. This once-off
adjustment has no impact on H2 2020.
All-in sustaining costs (AISC) for the Group for H1 2020 is US$986/oz,
compared to US$891/oz in H1 2019, an increase of 11% YoY, driven
by an increase in net operating costs (mainly driven by a move of
waste tonnes from capital to operating costs at Damang following
intersection of the main orebody), sustaining capital expenditure and
royalties (approximately US$15/oz) as well as lower by-product credits
(due to the lower copper price). Covid-19 related costs are estimated
at approximately US$20/oz for H1 2020 and are embedded in the AISC.