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Financial Results for the six months ended 30 June 2024 and Interim Dividend Declaration
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")
FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2024 AND INTERIM DIVIDEND DECLARATION
Gold Fields Limited is a globally diversified gold producer with eight operating mines
in Australia, Ghana, Peru and South Africa and two projects in Chile and Canada.
JOHANNESBURG, 23 August 2024: Gold Fields Limited (NYSE & JSE: GFI) announced profit
attributable to owners of the parent for the six months ended 30 June 2024 of US$389m
(US$0.43 per share). This compared with profit of US$458m (US$0.51 per share) for the
six months ended 30 June 2023.
A gross interim dividend of 300 SA cents per share (2023: 325 SA cents) is payable on 16 September 2024.
KEY STATISTICS
United States Dollar
Quarter Six months ended
June March June June June
Figures in millions unless otherwise stated 2024 2024 2023 2024 2023
Gold produced* oz (000) 454 464 577 918 1,154
- Continuing operations oz (000) 454 464 562 918 1,124
- Discontinued operations oz (000) n/a n/a 15 n/a 30
Tonnes milled/treated 000 9,854 9,904 10,766 19,757 21,465
- Continuing operations 000 9,854 9,904 10,110 19,757 20,105
- Discontinued operations 000 n/a n/a 656 n/a 1,360
Revenue (excluding Asanko) US$/oz 2,337 2,079 1,955 2,211 1,927
Cost of sales before gold inventory
change and amortisation and depreciation
(excluding Asanko) US$/tonne 53 51 50 52 50
AISC US$/oz 1,751 1,738 1,279 1,745 1,215
- Continuing operations US$/oz 1,751 1,738 1,277 1,745 1,213
- Discontinued operations US$/oz n/a n/a 1,374 n/a 1,319
Total AIC US$/oz 2,008 2,115 1,454 2,060 1,398
- Continuing operations US$/oz 2,008 2,115 1,453 2,060 1,397
- Discontinued operations US$/oz n/a n/a 1,479 n/a 1,435
Net debt US$m 1,153 1,143 1,028 1,153 1,028
Net debt (excluding lease liabilities) US$m 720 720 629 720 629
Net debt to adjusted EBITDA ratio 0.53 0.51 0.42 0.53 0.42
Adjusted free cash flow US$m (57.8) 140.2
Profit attributable to owners
of the parent US$m 389.0 457.8
- Continuing operations US$m 389.0 440.5
- Discontinued operations US$m - 17.3
Profit per share attributable to
owners of the parent US c.p.s. 43 51
- Continuing operations US c.p.s. 43 49
- Discontinued operations US c.p.s. - 2
Headline earnings attributable to owners
of the parent US$m 320.7 457.7
- Continuing operations US$m 320.7 440.4
- Discontinued operations US$m - 17.3
Headline earnings per share attributable
to owners of the parent US c.p.s. 36 51
- Continuing operations US c.p.s. 36 49
- Discontinued operations US c.p.s. - 2
Normalised profit attributable to owners
of the parent US$m 355.2 454.2
- Continuing operations US$m 355.2 436.9
- Discontinued operations US$m - 17.3
Normalised profit per share attributable
to owners of the parent US c.p.s. 40 51
- Continuing operations US c.p.s. 40 49
- Discontinued operations US c.p.s. - 2
* Gold produced in this table is attributable. For the six months ended 30 June 2023, Asanko
is included under discontinued operations.
At 30 June 2024, 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%) and Gruyere JV (50%).
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.
Interim cash dividend
In line with the Company's dividend policy, the Board has approved and declared an interim
dividend number 100 of 300 SA cents per ordinary share (gross) in respect of the six months
ended 30 June 2024. The interim dividend will be subject to the dividend withholding tax
of 20% (twenty 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 300 SA cents per ordinary share for shareholders exempt
from dividends tax;
- The dividend withholding tax of 20% (twenty per cent) will be applicable to this dividend;
- The net local dividend amount is 240.0 SA cents per ordinary share for shareholders liable to
pay the dividends tax;
- Gold Fields currently has 895,024,247 ordinary shares in issue; and
- Gold Fields' income tax number is 9160035607.
Shareholders are advised of the following dates in respect of the interim dividend:
- Interim dividend number 100: 300 SA cents per share;
- Declaration date: Tuesday, 20 August 2024;
- Last date to trade cum-dividend: Tuesday, 10 September 2024;
- Sterling and US Dollar conversion date: Wednesday, 11 September 2024;
- Shares commence trading ex-dividend: Wednesday, 11 September 2024;
- Record date: Friday, 13 September 2024; and
- Payment of dividend: Monday, 16 September 2024.
Share certificates may not be dematerialised or rematerialised between Wednesday, 11 September 2024
and Friday, 13 September 2024, both dates inclusive.
Short-form Announcement
This short-form announcement is the responsibility of the directors and is only a summary of the
information contained in the unaudited interim consolidated interim financial statements for the
six months ended 30 June 2024 ("interim results"). The interim 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/HY24Result.pdf
Any investment decision should be based on the interim results announcement available on the
JSE cloudlink and on the Company's website.
By order of the board
YGH Suleman (Chair)
23 August 2024
Executive Directors: Directors: YGH Suleman (Chair), MJ Fraser** (Chief Executive Officer),
A Andani#, PJ Bacchus+, ZBM Bassa, MC Bitar@, TP Goodlace, SL McCrae^^, JE McGill^, SP Reid^,
PG Sibiya, CAT Smit
South African unless stated, ^Australian, +British, ^^Canadian, @Chilean, #Ghanaian,
** Executive Director
Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd Company secretary: A. Weststrate
Transfer secretaries: Computershare Investor Services (Proprietary) Limited
www.goldfields.com
Date: 23-08-2024 07:05:00
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