Wrap Text
Reviewed financial results for the twelve months ended 31 December 2023
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")
REVIEWED FINANCIAL RESULTS FOR THE TWELVE MONTHS ENDED 31 DECEMBER 2023
Gold Fields Limited is a globally diversified gold producer with eight operating mines in
Australia, Ghana, Peru and South Africa and a project in Chile.
Gold Fields Limited (NYSE & JSE: GFI) announced profit attributable to owners of the parent
for the year ended 31 December 2023 of US$703.3 (US$0.79 per share). This compared profit of
US$711.0m (US$0.80per share) for the year ended 31 December 2022.
A final dividend number 99 of 420 SA cents per share (gross) is payable on 18 March 2024,
giving a total dividend for the year ended 31 December 2023 745 SA cents per share (gross).
KEY STATISTICS
United States Dollars
Quarter Year ended
December September December December December
Figures in millions unless otherwise stated 2023 2023 2022 2023 2022
Gold produced* oz (000) 608 542 601 2,304 2,399
- Continuing operations oz (000) 594 526 586 2,244 2,322
- Discontinued operations oz (000) 14 16 15 60 77
Tonnes milled/treated 000 10,653 10,933 10,638 43,052 42,199
- Continuing operations 000 9,984 10,225 9,955 40,315 39,576
- Discontinued operations 000 669 708 683 2,737 2,623
Revenue (excluding Asanko) US$/oz 1,987 1,924 1,736 1,942 1,785
Cost of sales before gold
inventory change and
amortisation and depreciation
(excluding Asanko) US$/tonne 54 48 50 51 49
AISC US$/oz 1,372 1,381 1,063 1,295 1,105
- Continuing operations US$/oz 1,356 1,380 1,058 1,289 1,097
- Discontinuing operations US$/oz 2,060 1,427 1,217 1,516 1,346
Total AIC US$/oz 1,632 1,622 1,298 1,512 1,320
- Continuing operations US$/oz 1,618 1,622 1,300 1,507 1,317
- Discontinued US$/oz 2,248 1,632 1,227 1,672 1,435
Net debt US$m 1,024 1,141 704 1,024 704
Net debt (excluding lease
liabilities) US$m 588 749 310 588 310
Net debt to adjusted EBITDA ratio 0.42 0.48 0.29 0.42 0.29
Adjusted free cash flow US$m 367 431
Profit/(loss) attributable to owners
of the parent US$m 703.3 711.0
- Continuing operations US$m 722.2 698.0
- Discontinued operations US$m (18.9) 13.0
Profit/(loss) per share attributable
to owners of the parent US c.p.s. 79 80
- Continuing operations US c.p.s. 81 79
- Discontinuing operations US c.p.s. (2) 1
Headline earnings attributable
to owners of the parent US$m 837.3 1,061.0
- Continuing operations US$m 809.3 1,048.0
- Discontinuing operations US$m 28.0 13.0
Headline earnings per share
attributable to owners
of the parent US c.p.s. 94 119
- Continuing operations US c.p.s. 91 118
- Discontinued operations US c.p.s. 3 1
Normalised profit attributable
to owners of the parent US$m 899.9 860.1
- Continuing operations US$m 871.9 847.1
- Discontinued operations US$m 28.0 13.0
Normalised profit per share
attributable to owners
of the parent US c.p.s. 101 97
- Continuing operations US c.p.s. 98 96
- Discontinued operations US c.p.s. 3 1
*Gold produced in this table is attributable and includes Gold Fields' share of 45% in Asanko.
At 31 December 2023, all operations are wholly owned except for Tarkwa and Damang in Ghana (90.0%),
South Deep in South Africa (96.43%), 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 5% of
Group production.
AISC and total AIC in the key statistics table include all Gold Fields operations, project and offices.
Figures may not add as they are rounded independently.
Final cash dividend
In line with the Company's dividend policy, the Board has approved and declared a final dividend
number 99 of 420 SA cents per ordinary share (gross) in respect of the year ended 31 December 2023.
The final dividend will be subject to the Dividend Withholding Tax of 20 per cent. In accordance
with paragraph 11.17 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 420 SA cents per ordinary share for shareholders liable to pay
the 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 336 SA cents per ordinary share for shareholders liable to pay the
dividends tax;
- Gold Fields currently has 893,540,813 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:
- Final dividend number 99: 420 SA cents per share;
- Declaration date: Thursday, 22 February 2024
- Last date to trade cum-dividend: Tuesday, 12 March 2024;
- Sterling and US Dollar conversion date: Wednesday, 13 March 2024;
- Shares commence trading ex-dividend: Wednesday, 13 March 2024;
- Record date: Friday, 15 March 2024; and
- Payment of dividend: Monday, 18 March 2024.
Share certificates may not be dematerialised or rematerialised between Wednesday, 13 March 2024 and
Friday, 15 March 2024, both dates inclusive.
This short-form announcement is the responsibility of the directors and is only a summary of the information
contained in the condensed consolidated financial statements of Gold Fields for the year ended 31 December 2023
("full results"). The full results can be found on the company's website at www.goldfields.com and on the
JSE cloudlink at https://senspdf.jse.co.za/documents/2024/jse/isse/GFIE/FY23Result.pdf
Any investment decision should be based on the full results announcement available on the JSE cloudlink
and on the company's website. The condensed consolidated financial statements of Gold Fields for the
year ended 31 December 2023 have been reviewed by the company's auditor, PricewaterhouseCoopers Inc.,
who expressed an unqualified review conclusion thereon.
By order of the board
YGH Suleman (Chair)
22 February 2024
Executive Directors: MJ Fraser (Chief Executive Officer), PA Schmidt (Chief Financial Officer)
Non-Executive Directors: A Andani#, PJ Bacchus*, TP Goodlace, MC Bitar@, JE McGill^ PG Sibiya,
SP Reid^, CAT Smit
^Australian *British @Chilean #Ghanaian
Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd
Company secretary: A. Weststrate
Transfer secretaries: Computershare Investor Services (Proprietary) Limited
www.goldfields.com
Date: 22-02-2024 07:05:00
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