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Gold Fields非GAAP每股收益0.36美元，收入21.2亿美元;下调24财年产量前景
2024-08-23 17:14
- Gold Fields press release (NYSE:GFI): 1H Non-GAAP EPS of $0.36.
- Revenue of $2.12B (-6.6% Y/Y).
- A gross interim dividend of 300 SA cents per share is payable on 16 September 2024.
- Attributable gold production was 20% lower year-on-year (Y/Y) to 918koz (H1 2023: 1,154koz).
- The Group AISC increased by 44% from US$1,213/oz for the six months ended 30 June 2023 to US$1,745/oz for the six months ended 30 June 2024.
- Cash inflow from operating activities decreased by 12% from US$735m for the six months ended 30 June 2023 to US$645 for the six months ended 30 June 2024.
- During H1 2024, there was an adjusted free cash outflow of US$58m (after taking into account all costs and project capex), compared to an inflow of US$140m in H1 2023.
- Balance sheet remains robust, with a net debt to EBITDA ratio of 0.53x at the end of June 2024, our net debt increased by US$129m during H1 2024 to US$1,153m.
- "Having thoroughly assessed the recovery trajectory for South Deep for the remainder of the year, we are revising 2024 production guidance from 9,500kg – 9,700kg (305koz – 312koz) to 7,800kg - 8,200kg (250koz - 264koz) to set up the mine for an improved 2025 performance. Lower volumes will impact unit costs with all-in costs and all-in sustaining costs guidance for 2024 revised to US$1,890/ oz - US$1,980/oz, respectively."
- 2024 production and cost guidance: "Given the operational headwinds experienced in H1 2024, we are reducing 2024 guidance. There will be a significant increase in production during H2 2024, with attributable gold equivalent production expected to be between 1.11Moz - 1.21Moz for the six-month period. Consequently, H2 2024 unit costs are expected be lower than those reported for H1 2024, with AISC forecast of US$1,460/oz – US$1,580/oz and AIC set to be US$1,630/oz – US$1,750/oz for the second half."
- "Taking the second half guidance into account, Group attributable gold equivalent production for 2024 is now expected to be between 2.05Moz - 2.15Moz, with the decrease from previous guidance primarily driven by South Deep and Cerro Corona which has been negatively impacted by the copper price factor."
- "Given the relatively slow progress made with the Salares Norte ramp-up during the winter months, we now expect the mine to produce between 40koz-eq - 50koz-eq in 2024, which has also contributed to the reduced Group guidance."
- "Group AISC is expected to be between US$1,580/oz - US$1,670/oz while AIC is guided to be between US$1,820/oz - US$1,910/oz for the year. These include approximately US$30/oz for the 2024 capital expenditure on the St Ives renewable energy project. Excluding the costs for this project, the range for AISC is US$1,550/oz – US$1,640/oz and US$1,790oz - US$1,880/oz for AIC."
More on Gold Fields:
- Gold Fields: Assessing Its Production Guidance Shift
- Gold Fields: A Rough Start To 2024
- Gold Fields to acquire Canada's Osisko Mining for C$2.16 billion
- Gold Fields warns half-year profit to drop by up to a third as production declines
- Seeking Alpha’s Quant Rating on Gold Fields
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