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Quarterly Financial Reports

Quarter ended 31 December 2016

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JOHANNESBURG. 16 February 2017

Gold Fields Limited (Gold Fields) (JSE, NYSE: GFI) is pleased to announce the results of the South Deep Rebase Plan. The mine entered a critical stage of its evolution at the beginning of 2015 when Gold Fields made the decision to take a step back and fix the base at the mine before determining the new long-term steady state profile.

Operational update - September 2016

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JOHANNESBURG. 24 October 2016

JOHANNESBURG. 24 October 2016 Gold Fields Limited (NYSE & JSE: GFI) is pleased to provide an operational update for the quarter ended 30 September 2016. Detailed financial and operational results are provided on a six-monthly basis i.e. at the end of June and December.

Six months ended - 30 June 2016

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JOHANNESBURG. 18 August 2016

Gold Fields Limited (NYSE & JSE: GFI) today announced normalised earnings of US$103 million for the six months to June 2016 compared with normalised earnings of US$8 million for the six months to June 2015.

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Operational Update - March 2016

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JOHANNESBURG. 19 April 2016

JOHANNESBURG. 19 April 2016 Gold Fields Limited (NYSE & JSE: GFI) is pleased to provide an operational update for the quarter ended 31 March 2016. Detailed financial and operational results are provided on a six-monthly basis i.e. at the end of June and December.

Quarter ended 31 December 2015

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JOHANNESBURG. 18 FEBRUARY 2016

Gold Fields Limited (NYSE & JSE: GFI) today announced normalised earnings of US$15 million for the December 2015 quarter compared with US$22 million for the September 2015 quarter and US$17 million for the December 2014 quarter. Net losses attributable to our shareholders of US$258 million for the December 2015 quarter compared with net earnings of US$18 million for the September 2015 quarter and net losses of US$26 million for the December 2014 quarter

Quarter ended 30 September 2015

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JOHANNESBURG. 19 SEPTEMBER 2015

Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings attributable to our shareholders of US$18 million for the September 2015 quarter compared with net earnings of US$12 million for the June 2015 quarter and US$19 million in the September 2014 quarter. Normalised earnings of US$22 million for the September 2015 quarter compared with normalised earnings of US$22 million for the June 2015 quarter and US$23 million in the September 2014 quarter.

BROADCAST INTERVIEW - Q3 2015 RESULTS

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Quarter ended 30 June 2015

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JOHANNESBURG. 20 AUGUST 2015

Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings attributable to our shareholders of US$12 million for the June 2015 quarter compared with net losses of US$14 million in the March 2014 quarter and net earnings of US$19 million in the June 2014 quarter. Normalised earnings of US$22 million for the June 2015 quarter compared with normalised losses of US$13 million in the March 2014 quarter and normalised earnings of US$25 million in the June 2014 quarter.

BROADCAST INTERVIEW - Q2 2015 RESULTS

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Quarter ended 31 March 2015

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JOHANNESBURG. 7 MAY 2015

Gold Fields Limited (NYSE & JSE: GFI) today announced net losses attributable to our shareholders of US$14 million for the March 2015 quarter compared with US$26 million in the December 2014 quarter and US$nil in the March 2014 quarter. Normalised losses of US$13 million for the March 2015 quarter compared with earnings of US$17 million in the December 2014 quarter and US$21 million in the March 2014 quarter.

BROADCAST INTERVIEW - Q1 2015 RESULTS

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Quarter ended 31 December 2014

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JOHANNESBURG. 12 February 2015, Gold Fields Limited (NYSE & JSE: GFI) today announced normalised earnings for the December 2014 quarter of US$17 million compared with US$23 million for the September 2014 quarter and US$14 million for the December 2013 quarter. Net losses for the December 2014 quarter of US$26 million compared with net earnings of US$19 million for the September 2014 quarter and net losses of US$491 million for the December 2013 quarter.

A final dividend of 20 SA cents per share (gross) is payable on 9 March 2015, giving a total dividend for the year ended December 2014 of 40 SA cents per share (gross).

BROADCAST INTERVIEWS - Q4 2014 RESULTS

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Quarter ended 30 September 2014

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JOHANNESBURG. 20 November 2014, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings for the September 2014 quarter of US$19 million compared with US$19 million for the June 2014 quarter and US$9 million for the September 2013 quarter. Normalised earnings for the September 2014 quarter of US$23 million compared with US$25 million for the June 2014 quarter and US$12 million for the September 2013 quarter.

Quarter ended 30 June 2014

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JOHANNESBURG. 21 August 2014, Gold Fields Limited (NYSE & JSE: GFI) today announced normalised earnings from continuing operations for the June 2014 quarter of US$25 million compared with US$21 million for the March 2014 quarter and losses of US$36 million for the June 2013 quarter. Net earnings for the June 2014 quarter of US$19 million compared with US$nil for the March 2014 quarter and net losses of US$129 million for the June 2013 quarter.

BROADCAST INTERVIEWS - Q2 2014 RESULTS

 
   
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Quarter ended 31 March 2014

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JOHANNESBURG. 8 May 2014, Gold Fields Limited (NYSE & JSE: GFI) today announced normalised earnings from continuing operations for the March 2014 quarter of US$21 million compared with US$14 million for the December 2013 quarter and US$68 million for the March 2013 quarter. Net losses for the March 2014 quarter of US$0.3 million compared with net losses of US$491 million for the December 2013 quarter.

Quarter ended 31 December 2013

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South Deep revised production build-up profile 13 February 2014
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JOHANNESBURG. 13 February 2014, Gold Fields Limited (NYSE & JSE: GFI) today announced normalised earnings from continuing operations for the December 2013 quarter of US$14 million compared with US$12 million in the September 2013 quarter and US$127 million in the December 2012 quarter. In Rand terms the normalised earnings for the December 2013 quarter of R145 million compared with R120 million in the September 2013 quarter and R1,080 million in the December 2012 quarter.

Quarter ended 30 September 2013

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JOHANNESBURG. 20 November 2013, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings from continuing operations for the September 2013 quarter of US$9 million compared with a net loss of US$129 million in the June 2013 quarter and earnings of US$122 million in the September 2012 quarter. In Rand terms the net earnings for the September 2013 quarter of R63 million compared with a net loss of R1,169 million in the June 2013 quarter and earnings of R997 million in the September 2012 quarter.

Quarter ended 30 June 2013

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JOHANNESBURG. 22 August 2013, Gold Fields Limited (NYSE & JSE: GFI) today announced a net loss from continuing operations for the June 2013 quarter of US$129 million compared with earnings of US$27 million in the March 2013 quarter and US$105 million in the June 2012 quarter. In Rand terms the net loss for the June 2013 quarter of R1,169 million compared with earnings of R236 million in the March 2013 quarter and R837 million in the June 2012 quarter.

Quarter ended 31 March 2013

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JOHANNESBURG. 10 May 2013, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings from continuing operations for the March 2013 quarter of R236 million compared with R376 million in the December 2012 quarter and R381 million in the March 2012 quarter.  In US dollar terms net earnings for the March 2013 quarter of US$27 million compared with US$41 million in the December 2012 quarter and US$49 million in the March 2012 quarter.

Quarter ended 31 December 2012

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JOHANNESBURG. 14 February 2013, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings for the December quarter of R546 million compared with R1,424 million in the September quarter and R2,605 million in the December 2011 quarter. Net earnings from continuing operations for the December quarter amounted to R382 million compared with R1,000 million in the September quarter and R1,467 million in the December 2011 quarter. Net earnings from discontinued operations for the December quarter amounted to R164 million compared with R425 million in the September quarter and R1,138 million in the December 2011 quarter.

In US dollar terms net earnings for the December quarter were US$54 million, compared with US$171 million in the September quarter and US$336 million in the December 2011 quarter. Net earnings from continuing operations for the December quarter were US$41 million, compared with US$122 million in the September quarter and US$186 million in the December 2011 quarter. Net earnings from discontinued operations for the December quarter were US$13 million, compared with US$48 million in the September quarter and US$150 million in the December 2011 quarter.

  • Illegal strike action at KDC and Beatrix resulted in 110,000 ounces of lost production;
  • Gold Fields unbundles and lists Sibanye Gold, formerly GFIMSA (KDC, Beatrix and Service companies);
  • Gold production for total Gold Fields down 7 per cent at 754,000 equivalent attributable ounces due to illegal strikes;
  • Total cash cost for total Gold Fields of US$946 per ounce and NCE of US$1,476 per ounce; and
  • Operating margin for total Gold Fields of 44 per cent and NCE margin of 13 per cent.

A final dividend of 75 SA cents per share (gross) is payable on 11 March 2013, giving a total dividend for the year ended December 2012 of 235 SA cent per share (gross).

Quarter ended 30 September 2012

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JOHANNESBURG. 26 November 2012, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings for the September quarter of R1,424 million compared with R1,606 million in the June quarter and R2,055 million in the September 2011 quarter. In US dollar terms net earnings for the September quarter were US$171 million, compared with US$198 million in the June quarter and US$293 million in the September 2011 quarter.

  • Production losses of 35,000 ounces due to illegal strike action at KDC and Beatrix;
  • Underground fire at KDC West responsible for 30,000 ounces of lost production;
  • Group attributable equivalent gold production of 811,000 ounces compared with 862,000 ounces in the June quarter;
  • Total cash cost of US$916 per ounce and NCE of US$1,448 per ounce;
  • Operating margin of 45 per cent and NCE margin of 13 per cent; and
  • “24/7” arrangements and other operating improvements agreed at South Deep.

Quarter ended 30 June 2012

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JOHANNESBURG. 23 August 2012, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings for the June quarter of R1,606 million compared with R2,082 million in the March quarter and R1,267 million in the June 2011 quarter. In US dollar terms net earnings for the June quarter were US$198 million, compared with US$268 million in the March quarter and US$186 million in the June 2011 quarter.

  • Group attributable equivalent gold production of 862,000 ounces;
  • Total cash cost of US$851 per ounce and NCE of US$1,308 per ounce;
  • Operating margin of 47 per cent and NCE margin of 18 per cent;
  • Good progress made on South Deep project; and
  • Stabilisation of production output at KDC.

Interim dividend of 160 SA cents per share is payable on 17 September 2012

Quarter ended 31 March 2011

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JOHANNESBURG. 17 May 2012, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings for the March quarter of R2,082 million compared with R2,605 million in the December quarter and R1,100 million in the March 2011 quarter. In US dollar terms net earnings for the March quarter were US$268 million, compared with US$336 million in the December quarter and US$158 million in the March 2011 quarter.

  • Group attributable equivalent gold production of 827,000 ounces;
  • Total cash cost of US$870 per ounce;
  • Operating margin of 48 per cent and NCE margin of 24 per cent; and
  • Project pipeline continues to advance.

Quarter ended 31 December 2011

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JOHANNESBURG. 17 February 2012, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings for the December quarter of R2,605 million compared with R2,055 million in the September quarter and a loss of R777 million in the December 2010 quarter. In US dollar terms net earnings for the December quarter were US$336 million, compared with US$293 million in the September quarter and a loss of US$106 million in the December 2010 quarter. Net earnings of R7,027 million (US$973 million) for the year ended December 2011 compared with R1,139 million (US$153 million) for the year ended December 2010.

  • Group attributable equivalent gold production of 883,000 ounces;
  • Total cash cost decreased from US$851 per ounce to US$767 per ounce;
  • Operating margin of 56 per cent and NCE margin of 28 per cent reflecting good cost control and higher prices;
  • Project pipeline gaining momentum;
  • Fourth place ranking in the resources sector of the Dow Jones sustainability index.

Quarter ended 30 September 2011

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JOHANNESBURG. 10 November 2011, Gold Fields Limited (NYSE & JSE: GFI) today announced record net earnings for the September quarter of R2,055 million compared with R1,267 million in the June quarter and earnings of R701 million in the September 2010 quarter. In US dollar terms net earnings for the September quarter were US$293 million, compared with US$186 million in the June quarter and earnings of US$95 million in the September 2010 quarter.

  • Group attributable equivalent gold production of 900,000 ounces, 3 per cent higher than the June quarter;
  • Operating margin increased from 47 per cent to 51 per cent and NCE margin from 21 per cent to 29 per cent;
  • Loans repaid of US$195 million funded from operating activities; and
  • Second down payment of US$66 million made in the Far Southeast project in the Philippines, on positive drilling results.

Quarter ended 30 June 2011

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JOHANNESBURG.  11 August 2011, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings for the June quarter of
R1,267 million compared with R1,100 million in the March quarter and earnings of R900 million in the June 2010 quarter.  In US dollar terms net earnings for the June quarter were US$186 million, compared with US$158 million in the March quarter and earnings of US$120 million in the June 2010 quarter.

  • Group attributable equivalent gold production of 872,000 ounces, 5 per cent higher than the March quarter;
  • Total cash cost of R177,934 per kilogram (US$816 per ounce);
  • NCE margin constant at 21 per cent;
  • Programme to acquire minorities in Peru and Ghana completed; and
  • 5 year US$1 billion loan facility secured.

Quarter ended 31 March 2011

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JOHANNESBURG. 19 May 2011, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings for the March 2011 quarter of R1,100 million compared with a loss of R777 million in the December 2010 quarter and earnings of R316 million in the March 2010 quarter. In US dollar terms net earnings for the March 2011 quarter were US$158 million, compared with a loss of US$106 million in the December 2010 quarter and earnings of US$44 million in the March 2010 quarter.

  • Group attributable gold production 830,000 ounces, 5 per cent higher than corresponding quarter last year;
  • Total cash cost up 4 per cent to R168,455 per kilogram (US$751 per ounce) in line with corresponding quarter last year;
  • Net operating costs reduced for the third successive quarter;
  • NCE margin up 1 percentage point to 21 per cent; and
  • Process of acquiring minorities in Peru completed and Ghana commenced.

Quarter ended 31 December 2010

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JOHANNESBURG.  18 February 2011, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings excluding gains and losses on foreign exchange, non-recurring items and share of gain or loss of associates after royalties and taxation for the December 2010 quarter of R1,475 million compared with earnings of R1,016 million and R1,022 million in the September 2010 and December 2009 quarters respectively.  In US dollar terms net earnings excluding gains and losses on foreign exchange, non-recurring items and share of gain or loss of associates after royalties and taxation for the December 2010 quarter were US$211 million, compared with earnings of US$138 million and US$135 million for the September 2010 and December 2009 quarters respectively.  A net loss of R777 million (US$106 million) was incurred due to the cost of a number of empowerment transactions completed in the quarter.

  • Net earnings per share excluding gains and losses on foreign exchange, non-recurring items and share of gain or loss of associates after royalties and taxation increased   by 43 per cent from 144 cents per share to 206 cents per share;
  • Group attributable gold production similar to last quarter at 898,000 ounces;
  • Lowest coupon dollar bond ever issued by South African corporate;
  • Total cash cost down from R164,898 per kilogram (US$697 per ounce) to R161,894 per kilogram (US$728 per ounce);
  • NCE margin up 2 per cent to 20 per cent;
  • 2014 equity empowerment requirements completed and fully accounted for; and
  • Growth pipeline gathering momentum.

As a result of the change in year-end from June to December, a final dividend for the six months ended 31 December 2010 of 70 SA cents per share is payable on 14 March 2011.

Quarter ended 30 September 2010

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Operations tracking guidance

JOHANNESBURG. 4 November 2010, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings excluding gains and losses on foreign exchange, exceptional items and share of gain or loss of associates after taxation for the September 2010 quarter of R1,016 million compared with earnings of R945 million and R625 million in the June 2010 and the September 2009 quarters respectively. In US dollar terms net earnings excluding gains and losses on foreign exchange, exceptional items and share of gain or loss of associates after taxation for the September 2010 quarter were US$138 million, compared with earnings of US$125 million and US$80 million for the June 2010 and September 2009 quarters respectively.

September 2010 quarter salient features:

  • US$1 billion bond completed post quarter end;
  • Group attributable gold production up to 908,000 ounces;
  • Total cash cost down from R166,215 per kilogram (US$688 per ounce) to R164,898 per kilogram (US$697 per ounce);
  • NCE margin maintained at 18 per cent;
  • South Deep new order mining right executed;
  • Three BEE transactions approved by shareholders;
  • Option agreement for 60 per cent interest in the undeveloped gold-copper Far Southeast deposit in the Philippines signed;
  • Business process re-engineering across the Group commenced.

Quarter ended 30 June 2010

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JOHANNESBURG. 5 August 2010, JOHANNESBURG. 5 August 2010, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings for the June 2010 quarter of R900 million compared with earnings of R316 million and a loss of R293 million in the March 2010 and the June 2009 quarters respectively. In US dollar terms net earnings for the June 2010 quarter were US$120 million, compared with earnings of US$44 million and a loss of US$29 million for the March 2010 and June 2009 quarters respectively.

June 2010 quarter salient features:

  • New production record for Tarkwa at over 200,000 ounces for the quarter;
  • Total cash cost down 2 per cent from R169,538 per kilogram (US$703 per ounce) to R166,215 per kilogram (US$688 per ounce);
  • Notional cash expenditure down 3 per cent from R241,860 per kilogram (US$1,003 per ounce) to R235,223 per kilogram (US$974 per ounce);
  • NCE margin doubled from 9 per cent to 18 per cent;
  • Net debt down to R4.7 billion (US$620 million) from R6.1 billion (US$829 million).

A final dividend of 70 SA cents per share is payable on 30 August 2010, giving a total dividend for financial 2010 of 120 SA cents per share.

Statement by Nick Holland, Chief Executive Officer of Gold Fields:

“Safe production remains a key priority for the Group and I deeply regret to report three fatal accidents at the South African operations during the quarter. The fatality rate and the serious injury frequency rate reduced year-on-year by 15 per cent and 20 per cent respectively. F2010 has been the best safety year ever, and our focus will now be on behavioural change, with no let-up in our efforts to create a safe working environment.

Quarter ended 31 March 2010

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JOHANNESBURG. 7 May 2010, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings for the March 2010 quarter of R316 million compared with earnings of R1,409 million and R1,307 million in the December 2009 and the March 2009 quarters respectively. In US dollar terms net earnings for the March 2010 quarter were US$44 million, compared with US$187 million and US$140 million for the December 2009 and March 2009 quarters respectively.

March 2010 quarter salient features:

  • Attributable gold production of 793,000 ounces;
  • Strong performance at the international operations with a 6 per cent increase in production;
  • Net cash inflow of R1 billion despite lower production;
  • South Deep ventilation shaft deepening commenced;
  • Total cash cost up 15 per cent from R147,648 per kilogram (US$613 per ounce) to R169,538 per kilogram(US$703 per ounce);
  • Notional cash expenditure up 12 per cent from R216,830 per kilogram (US$900 per ounce) to R241,860 per kilogram (US$1,003 per ounce);
  • Damang’s secondary crusher successfully commissioned on time and within budget.
Statement by Nick Holland, Chief Executive Officer of Gold Fields:

I deeply regret to report that the South Africa region reported three fatal accidents during Q3 F2010. We remain singularly focused on eliminating all serious and fatal accidents on all of our mines and our deliberate efforts towards this goal continue unabated. One of the most important safety initiatives is the set of measures we are putting in place to counteract the impact of seismicity. These initiatives are showing early promise.

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