| Summarised group operating results |
| Ore milled |
(t000) |
23 254 |
24 897 |
24 187 |
22 590 |
14 523 |
| – Underground |
|
– |
569 |
732 |
633 |
787 |
| – Surface |
|
23 254 |
24 328 |
23 455 |
21 957 |
13 736 |
| Yield |
(g/t) |
0.20 |
0.29 |
0.34 |
0.33 |
0.53 |
| – Underground |
|
– |
3.99 |
3.89 |
3.79 |
4.26 |
| – Surface |
|
0.20 |
0.20 |
0.23 |
0.23 |
0.32 |
| Gold produced |
(kg) |
4 553 |
7 227 |
8 248 |
7 502 |
7 704 |
| – Underground |
|
– |
2 272 |
2 845 |
2 402 |
3 354 |
| – Surface |
|
4 553 |
4 955 |
5 403 |
5 100 |
4 350 |
| Gold produced |
(oz) |
146 381 |
232 353 |
265 179 |
241 194 |
247 689 |
| – Underground |
|
– |
73 048 |
91 469 |
77 226 |
107 834 |
| – Surface |
|
146 381 |
159 305 |
173 710 |
163 968 |
139 856 |
| Average price received |
(R/kg) |
458 084 |
418 538 |
308 221 |
267 292 |
250 589 |
| Average price received |
($/oz) |
1 613 |
1 679 |
1 372 |
1 092 |
861 |
| Cash operating costs |
(R/kg) |
310 763 |
304 912 |
251 296 |
233 112 |
212 228 |
| – Underground |
|
– |
416 540 |
342 123 |
324 736 |
274 066 |
| – Surface |
|
310 763 |
253 727 |
203 470 |
189 959 |
164 549 |
| Cash operating costs |
($/oz) |
1 094 |
1 223 |
1 119 |
953 |
730 |
| – Underground |
|
– |
1 671 |
1 523 |
1 327 |
942 |
| – Surface |
|
1 094 |
1 018 |
906 |
776 |
566 |
| Operating margin |
(%) |
32 |
27 |
18 |
13 |
15 |
| – Underground |
|
– |
1 |
(11) |
(22) |
(10) |
| – Surface |
|
32 |
40 |
34 |
29 |
35 |
| Capital expenditure |
(R million) |
361.5 |
319.1 |
315.8 |
194.0 |
345.1 |
| |
|
|
|
|
|
|
| Reserves and resources |
| Attributable mineral reserves |
Moz |
1.7 |
1.8 |
7.3 |
7.3 |
6.0 |
| Attributable mineral resources |
Moz |
37.3 |
37.6 |
60.2 |
60.0 |
56.4 |
| |
|
|
|
|
|
|
| Summarised group statement of comprehensive income (R million) |
| Revenue |
|
2 076.5 |
3 004.3 |
2 565.3 |
1 990.5 |
1 910.7 |
| Cost of sales |
|
(1 639.4) |
(2 501.9) |
(2 343.5) |
(1 891.8) |
(1 834.0) |
| Gross profit from operations |
|
437.1 |
502.4 |
221.8 |
98.7 |
76.7 |
| (Impairments)/reversal of impairments |
|
(238.0) |
(1.1) |
(547.7) |
(6.2) |
(75.1) |
| Administration expenses and general costs |
|
(78.1) |
(121.5) |
(88.1) |
(57.0) |
(83.6) |
| Finance income/(expenses) – net |
|
24.0 |
15.7 |
30.8 |
176.1 |
164.3 |
| Profit/(loss) before taxation |
|
145.0 |
395.5 |
(383.2) |
211.6 |
82.3 |
| Income tax |
|
(44.9) |
(8.0) |
(32.2) |
(8.2) |
28.4 |
| Profit/(loss) for the year |
|
100.1 |
387.5 |
(415.4) |
203.4 |
110.7 |
| |
|
|
|
|
|
|
| Summarised group statement of financial position (R million) |
| Non-current assets |
|
2 066.3 |
2 021.6 |
1 778.7 |
2 178.2 |
2 075.3 |
| Current assets |
|
604.8 |
470.7 |
510.0 |
402.1 |
550.5 |
| Total assets |
|
2 671.1 |
2 492.3 |
2 288.7 |
2 580.3 |
2 625.8 |
| Equity |
|
1 648.3 |
1 633.9 |
1 219.2 |
1 650.0 |
1 584.0 |
| Non-current borrowings |
|
143.3 |
– |
30.3 |
– |
– |
| Other non-current liabilities |
|
633.7 |
597.3 |
629.1 |
661.1 |
715.8 |
| Current borrowings |
|
24.3 |
30.7 |
79.3 |
– |
2.1 |
| Other current liabilities |
|
221.5 |
230.4 |
330.8 |
269.2 |
323.9 |
| Total equity and liabilities |
|
2 671.1 |
2 492.3 |
2 288.7 |
2 580.3 |
2 625.8 |
| |
|
|
|
|
|
|
| Summarised group statement of cash flows (R million) |
| Cash flows from operating activities |
|
502.3 |
621.1 |
324.0 |
53.6 |
208.2 |
| Cash flows from investing activities |
|
(429.4) |
(413.3) |
(335.2) |
(226.4) |
(593.4) |
| Cash flows from financing activities |
|
5.7 |
(168.5) |
81.3 |
7.8 |
(85.8) |
| Net increase/(decrease) in cash and cash equivalents |
|
78.6 |
39.3 |
70.1 |
(165.0) |
(471.0) |
| Cash and cash equivalents at the beginning of the year |
|
298.5 |
259.1 |
188.2 |
353.6 |
845.6 |
| Foreign exchange movements |
|
0.1 |
0.1 |
0.8 |
(0.4) |
(21.9) |
| Cash and cash equivalents at the end of the year |
|
377.2 |
298.5 |
259.1 |
188.2 |
352.7 |
| |
|
|
|
|
|
|
| Group performance indicators |
| Profitability |
|
|
|
| Operating margin |
(%) |
32 |
27 |
18 |
13 |
15 |
| All-in sustaining costs margin |
(%) |
20 |
15 |
6 |
8 |
(11) |
| Headline earnings per share |
(cents) |
68 |
86 |
28 |
13 |
34 |
| EBITDA |
(R million) |
502.8 |
502.2 |
264.9 |
232.5 |
17.2 |
| EBITDA margin |
(%) |
24 |
17 |
10 |
12 |
1 |
| Return on equity – HEPS |
(%) |
18 |
22 |
9 |
3 |
9 |
| Asset and debt management |
|
|
|
| Current ratio |
times |
2.5 |
1.8 |
1.2 |
1.5 |
1.7 |
| Debt to equity ratio |
(%) |
10 |
2 |
9 |
– |
– |
| Interest cover |
times |
26.7 |
65.2 |
23.2 |
47.4 |
4.8 |
| Net asset value per share |
(cents) |
428 |
424 |
317 |
429 |
419 |
| Market value and shareholder returns |
|
|
|
| Market price per share |
(cents) |
528 |
535 |
327 |
341 |
603 |
| Ordinary shares in issue |
|
385 383 767 |
385 383 767 |
384 884 379 |
384 884 379 |
378 001 303 |
| Market capitalisation |
(R million) |
2 034.8 |
2 061.8 |
1 258.6 |
1 312.5 |
2 279.3 |
| Price earnings ratio |
times |
7.7 |
6.2 |
11.7 |
26.5 |
17.7 |
| Market/book ratio |
times |
1.2 |
1.3 |
1.0 |
0.8 |
1.4 |
| Dividend per share |
(cents) |
28.0 |
10.0 |
7.5 |
5.0 |
5.0 |
| Dividend yield |
(%) |
5.3 |
1.9 |
2.3 |
1.5 |
0.8 |
| |
|
|
|
|
|
|
| Group sustainability indicators |
| Total economic value distributed |
(R million) |
429 |
903.0 |
847.0 |
669.0 |
761.0 |
| Value distributed to employees – salaries, wages and benefits |
(R million) |
283 |
821.0 |
759.0 |
629.0 |
673.0 |
| Value distributed to government – taxation and royalties |
(R million) |
4 |
22.0 |
10.0 |
11.0 |
46.0 |
| Total employees (including contractors) |
|
2 752 |
2 222 |
6 875 |
6 409 |
6 715 |
| Fatalities |
|
– |
1 |
1 |
2 |
5 |
| Cyanide consumption |
(tonnes) |
5 712 |
6 574 |
6 682 |
4 896 |
4 380 |
| CO2 emissions (direct) |
(tonnes) |
4 090 |
8 159 |
8 472 |
6 242 |
10 110 |
| CO2 emissions (indirect) |
(tonnes) |
390 611 |
812 966 |
682 666 |
786 101 |
895 928 |
| Electricity consumption |
(MWh) |
325 509 |
2 438 899 |
2 482 423 |
2 358 301 |
3 188 593 |
| Water consumption |
(1 000m³) |
5 748 |
8 301 |
8 491 |
11 546 |
14 682 |
| Socio-economic development spend |
(R million) |
2.2 |
5.5 |
15.8 |
5.3 |
2.4 |
| |
|
|
|
|
|
|
| Exchange rates |
| Average rate |
(R:US$) |
8.8328 |
7.7523 |
6.9865 |
7.6117 |
9.0484 |
| Closing rate |
(R:US$) |
9.8675 |
8.2700 |
6.8295 |
7.6529 |
7.8821 |
