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
MEDIA RELEASE
Trading statement for FY 2020
Johannesburg, 10 February 2021: Gold Fields Limited (Gold Fields)
(JSE, NYSE: GFI) advises that headline earnings per share for the
12 months ended 31 December 2020 (FY 2020) are expected to range
from US$0.81-0.85 per share, 305-325% (US$0.61-0.65 per share)
higher than the headline earnings of US$0.20 per share reported for
the 12 months ended 31 December 2019 (FY 2019).
Basic earnings per share for FY 2020 are expected to range from
US$0.80-0.84 per share, 300-320% (US$0.60-0.64 per share) higher
than the basic earnings of US$0.20 per share reported for FY 2019.
Normalised earnings per share for FY 2020 are expected to range
from US$0.98-1.02 per share, 133-143% (US$0.56-0.60 per share)
higher than the normalised earnings of US$0.42 per share reported
for FY 2019.
The increase in basic and headline earnings is driven by slightly higher
production and higher gold prices received, despite the hedges that
were in place during 2020.
Strong end to 2020
For Q4 2020, attributable gold equivalent production is expected to be
593koz (Q3 2020: 557koz), with All-in costs (AIC) for the quarter
expected to be US$1,113/oz (Q3 2020: US$1,070/oz). All-in
sustaining costs (AISC) are expected to be US$971/oz (Q3 2020:
US$964/oz).
Attributable gold equivalent production for 2020 is expected to be
2,236koz, a 2% increase YoY (FY 2019: 2,195koz), within the revised
guidance range of 2,200 - 2,250koz. Original guidance of 2.275Moz –
2.315Moz was revised in May 2020 to account for the impact of Covid-19
on the operations, mainly at South Deep and Cerro Corona.
AIC for 2020 is expected to be US$1,079/oz, marginally higher than
2019 (FY 2019: US$1,064/oz) and within the revised guidance range
of US$1,070/oz - US$1,090/oz. AISC for the year is expected to be
US$977/oz (FY 2019: US$897/oz), again within the revised guidance
range of between US$960/oz and US$980/oz.