Unaudited interim results for the six months ended 30 June 2023 and intention to retire by CFO
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")
SHORT FORM ANNOUNCEMENT - UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2023 AND INTENTION TO RETIRE BY
CHIEF FINANCIAL OFFICER
Gold Fields Limited has nine operating mines in Australia, South Africa, Ghana (including the Asanko JV) and Peru and
two projects in Canada and Chile.
Gold Fields Limited (NYSE and JSE: GFI) announced profit attributable to owners of the parent for the six months to 30
June 2023 of US$458m (US$0.51 per share). This compared with profit of US$510m (US$0.57 per share) for the six months
ended 30 June 2022. An interim dividend of 325 SA cent per share (gross)is payable on Monday, 11 September 2023.
KEY STATISTICS
United States Dollars
Quarter six months ended
Figures in millions unless otherwise stated June March June June June
2023 2023 2022 2023 2022
Gold produced* oz (000) 577 577 621 1,154 1,201
Tonnes milled/treated 000 10,766 10,699 10,689 21,465 21,209
Revenue (excluding Asanko) US$/oz 1,955 1,901 1,820 1,927 1,851
Cost of sales before gold
inventory change and
amortisation and depreciation
(excluding Asanko) US$/tonne 50 51 48 50 47
All-in sustaining costs US$/oz 1,279 1,152 1,146 1,215 1,148
Total all-in cost US$/oz 1,454 1,343 1,382 1,398 1,352
Net debt US$m 1,028 875 851 1,028 851
Net debt (excluding lease
liabilities) US$m 629 454 451 629 451
Net debt to adjusted EBITDA
ratio 0.42 0.36 0.33 0.42 0.33
Adjusted free cash flow US$m 140.2 292.7
Profit attributable to owners
of the parent US$m 457.8 509.7
Profit per share attributable
to owners of the parent US c.p.s. 51 57
Headline earnings attributable
to owners of the parent US$m 457.7 518.0
Headline earnings per share
attributable to owners
of the parent US c.p.s. 51 58
Normalised profit attributable
to owners of the parent US$m 454.2 498.4
Normalised profit per share
attributable to owners
of the parent US c.p.s. 51 56
* Gold produced in this table is attributable and includes Gold Fields share of 45% in Asanko.
At 30 June 2023, all operations are wholly owned except for Gruyere JV (50%), South Deep in South Africa (96.43%)
Damang and Tarkwa in Ghana (90.0%), Asanko JV (45% equity share) and Cerro Corona in Peru (99.5%).
Gold produced and sold throughout this report includes copper gold equivalents of approximately 6% of Group production.
Interim cash dividend
In line with the Company's dividend policy, the Board has approved and declared an interim dividend number 98 of 325 SA
cents per ordinary share (gross) in respect of the six months ended 30 June 2023. The interim dividend will be subject
to the Dividend Withholding Tax of 20 per cent. In accordance with paragraphs 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 325 SA cents per ordinary share for shareholders exempt from 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 260 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 interim dividend:
- Interim dividend number 98: 325 SA cents per share;
- Declaration date: Thursday, 17 August 2023;
- Last date to trade cum-dividend: Tuesday, 5 September 2023;
- Sterling and US Dollar conversion date: Wednesday, 6 September 2023;
- Shares commence trading ex-dividend: Wednesday, 6 September 2023;
- Record date: Friday, 8 September 2023; and
- Payment of dividend: Monday, 11 September 2023.
Share certificates may not be dematerialised or rematerialised between Wednesday, 6 September 2023 and Friday, 8
September 2023, both dates inclusive.
This short-form announcement is the responsibility of the directors and is only a summary of the information in the
full interim financial results ("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/2023/jse/isse/GFIE/HY23Result.pdf
Any investment decision should be based on the full results announcement published on SENS and on the Company's
website. The interim consolidated financial statements of Gold Fields for the six months ended 30 June 2023 have not
been reviewed by the Company's auditor, PricewaterhouseCoopers Inc.
Intention to retire by Gold Fields director and Chief Financial Officer ("CFO")
The board of Gold Fields (the "Board") hereby advises shareholders that Mr. Paul Schmidt, Executive Director and Chief
Financial Officer of the Company, has informed the Board of his intention to proceed on early retirement.
Paul has shared his intention timeously to allow the Company to initiate and complete a comprehensive recruitment
process and has agreed to remain with the Company until such time as a suitable successor has been identified and
appointed.
Paul's successful tenure with the Company commenced in 1996. He was appointed as CFO in 2008 and joined the Board as an
executive director in 2009. We would like to thank Paul for his loyal service over the past 27 years and his valuable
contribution in building Gold Fields into the successful business that it is today.
The Company will keep shareholders updated on progress with recruiting Mr. Schmidt's successor.
By order of the board
YGH Suleman (Chair)
17 August 2023
Directors: YGH Suleman (Chair), M Preece ** (Interim Chief Executive Officer), PA Schmidt** (Chief Financial Officer),
A Andani #, PJ Bacchus?, MC Bitar@, TP Goodlace,
JE McGill^, SP Reid^, PG Sibiya, CAT Smit
South African unless stated, ^Australian, ?British, @Chilean, #Ghanaian, ** Executive Director
www.goldfields.com
Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd
Company secretary:
A. Weststrate
Transfer secretaries:
Computershare Investor Services (Proprietary) Limited
Date: 17-08-2023 07:05:00
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