Voluntary trading statement and operational performance for FY 2021

Rhea-AI Summary

Gold Fields Limited (JSE: GFI, NYSE: GFI) announced expected FY 2021 headline earnings per share of US$0.88-0.94, marking a 6% to 13% increase from FY 2020. Basic earnings per share are projected at US$0.82-0.88, reflecting a 0% to 7% rise. Normalized earnings are anticipated between US$1.02-1.08, up 2% to 8% year-over-year. Q4 production is expected at 631koz, with All-in costs at US$1,369/oz. FY 2021 production is forecasted at 2,340koz, a 5% YoY increase. Financial results are set to be released on February 17, 2022.

Positive

• Expected FY 2021 headline earnings per share range of US$0.88-0.94, up 6%-13% from FY 2020.
• Projected normalized earnings per share between US$1.02-1.08, reflecting a 2%-8% increase.
• Q4 gold equivalent production expected at 631koz, an increase from Q3 2021.
• FY 2021 production expected at 2,340koz, representing a 5% year-over-year increase.

Negative

• AIC for FY 2021 expected to be US$1,297/oz, which is higher than FY 2020's US$1,079/oz.
• AISC for the year expected to be US$1,063/oz, slightly above the guidance range.

JOHANNESBURG, Feb. 9, 2022 /PRNewswire/ -- Gold Fields Limited (Gold Fields) (JSE: GFI) (NYSE: GFI) advises that headline earnings per share for the 12 months ended 31 December 2021 (FY 2021) are expected to range from US$0.88-0.94 per share (US$0.05-0.11 per share higher), which is 6% to 13% higher than the headline earnings of US$0.83 per share reported for the 12 months ended 31 December 2020 (FY 2020).

Basic earnings per share for FY 2021 are expected to range from US$0.82-0.88 per share (US$0.00- 0.06 per share higher), which is 0% to 7% higher than the basic earnings of US$0.82 per share reported for FY 2020.

Normalised earnings per share for FY 2021 are expected to range from US$1.02-1.08 per share (US$0.02-0.08 per share higher), which is 2% to 8% higher than the normalised earnings of US$1.00 per share reported for FY 2020.

Q4 2021 operational performance

For Q4 2021, attributable gold equivalent production is expected to be 631koz (Q3 2021: 606koz), with All-in costs (AIC) for the quarter expected to be US$1,369/oz (Q3 2021: US$1,263/oz). All-in sustaining costs (AISC) are expected to be US$1,055/oz (Q3 2021: US$1,016/oz).

FY 2021 operational performance                                                                       

Attributable gold equivalent production for 2021 is expected to be 2,340koz, a 5% increase YoY (FY2020: 2,236koz), at the upper end of the guidance range of 2,300-2,350koz.

AIC for 2021 is expected to be US$1,297/oz (US$1,236/oz at 2020 exchange rates), higher than 2020 (US$1,079/oz) as a result of the increased project capex at Salares Norte and below the lower end of the guidance range of US$1,310/oz – US$1,350/oz. AISC for the year is expected to be US$1,063/oz (US$1,006/oz at 2020 exchange rates) (FY2020: US$977/ oz), slightly higher than the guidance range of between US$1,020/oz and US$1,060/oz.

The financial information on which this trading statement is based has not been reviewed, and reported on, by the Company's external auditors.

Gold Fields expects to release FY 2021 financial results on Thursday, 17 February 2022.

About Gold Fields                                  

Gold Fields Limited is a globally diversified gold producer with nine operating mines and one project in Australia, Chile, Ghana (including our Asanko Joint Venture), Peru and South Africa, with total attributable annual gold-equivalent production of 2.24Moz. It has attributable gold-equivalent Mineral Reserves of 52.1Moz and gold Mineral Resources of 116.0Moz. Gold Fields has a primary listing on the Johannesburg Stock Exchange (JSE) Limited, and an additional listing on the New York Stock Exchange (NYSE).

Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd

View original content:https://www.prnewswire.com/news-releases/voluntary-trading-statement-and-operational-performance-for-fy-2021-301478647.html

SOURCE Gold Fields Limited

FAQ

What are Gold Fields' expected earnings per share for FY 2021?

Gold Fields anticipates headline earnings per share to range from US$0.88 to US$0.94 for FY 2021.

When will Gold Fields release its FY 2021 financial results?

Gold Fields is scheduled to release its FY 2021 financial results on February 17, 2022.

What is Gold Fields' expected gold production for FY 2021?

Gold Fields expects an attributable gold equivalent production of 2,340koz for FY 2021.

What were the AIC and AISC for Gold Fields in FY 2021?

The All-in costs (AIC) for FY 2021 are expected to be US$1,297/oz, while All-in sustaining costs (AISC) are projected at US$1,063/oz.

How did Gold Fields' Q4 2021 production compare to Q3 2021?

Gold Fields' Q4 2021 attributable gold equivalent production is expected to be 631koz, up from 606koz in Q3 2021.