Key features – five-year review
|Group operating statistics|
|Total cash cost2||R/kg||347,613||295,246||273,281||285,851||220,224|
|All-in sustaining cost3||R/kg||422,472||372,492||354,376||382,687||296,531|
|All-in cost margin4||%||9||15||18||12||20|
|Group sustainability statistics|
|CO2e emissions (Scope 1 and 2)7||t||5,015,626||5,174,688||4,407,671||4,769,283||4,550,698|
|Salaries and wages||Rm||7,345||6,665||6,156||5,791||5,591|
|Current tax and royalties||Rm||1,097||1,310||1,224||757||953|
|Group financial statistics|
|Net operating profit||Rm||2,700||4,215||4,254||3,367||4,559|
|Profit for the year||Rm||538||1,507||1,698||2,980||2,563|
|Profit for the year attributable to owners of Sibanye||Rm||717||1,552||1,692||2,980||2,564|
|Basic earnings per share||cents||79||186||260||297,960,000||256,410,000|
|Diluted earnings per share||cents||78||182||255||297,960,000||256,410,000|
|Headline earnings per share||cents||74||170||355||297,790,000||256,130,000|
|Dividend per share||cents||72||125||37||73,130,000||242,330,000|
|Weighted average number of shares||’000||912,038||835,936||650,621||1||1|
|Diluted weighted average number of shares||’000||917,709||854,727||664,288||1||1|
|Number of shares in issue at end of period||’000||916,140||898,840||735,079||1||1|
|Statement of financial position|
|Property, plant and equipment||Rm||22,132||22,704||15,151||16,376||15,359|
|Cash and cash equivalents||Rm||717||563||1,492||292||363|
|Stated share capital||Rm||21,735||21,735||17,246||–||–|
|Statement of cash flows|
|Cash from operating activities||Rm||3,515||4,053||6,360||2,621||3,861|
|Cash used in investing activities||Rm||(3,340)||(4,309)||(3,072)||(3,126)||(3,005)|
|Cash (used in)/flows from financing activities||Rm||(21)||(673)||(2,088)||434||(1,529)|
|Net increase/(decrease) in cash and cash equivalents||Rm||155||(930)||1,201||(71)||(673)|
|Other financial data|
|Net debt (cash)10||Rm||1,362||1,506||499||3,928||(363)|
|Net debt to EBITDA||ratio||0.21||0.20||0.07||0.69||(0.05)|
|Net asset value per share||R||16.36||16.67||12.80||(9,672,700.00)||(11,975,600.00)|
|Average exchange rate11||R/US$||12.75||10.82||9.60||8.19||7.22|
|Closing exchange rate12||R/US$||15.54||11.56||10.34||8.57||8.13|
|Ordinary share price – high||R||32.26||29.52||16.30||n/a13||n/a13|
|Ordinary share price – low||R||13.66||12.34||6.73||n/a13||n/a13|
|Ordinary share price at year end||R||22.85||22.55||12.30||n/a13||n/a13|
|Average daily volume of shares traded||3,024,491||2,868,842||4,754,958||n/a13||n/a13|
|Market capitalisation at year end||Rbn||20.9||20.3||9.04||n/a13||n/a13|
- Certain non-financial data was audited for the period 1 January 2014 to 31 December 2014 and included Cooke, Kloof, Driefontein and Beatrix. Financial data for Cooke reflects data from 15 May 2014 to 31 December 2014.
- Sibanye presents the financial measures ‘total cash cost’, ‘total cash cost per kilogram’ and ‘total cash cost per ounce’, which have been determined using industry standards promulgated by the Gold Institute and are not IFRS measures. Total cash costs is defined as cost of sales as recorded in the income statement, less amortisation and depreciation and off-site (central) general and administrative expenses (including head-office costs) plus royalties and production taxes. Total cash cost per kilogram is defined as the average cost of producing a kilogram of gold, calculated by dividing the total cash costs in a period by the total gold sold over the same period.
- Sibanye presents the financial measures ‘All-in sustaining cost’, ‘All-in cost’, ‘All-in sustaining cost per kilogram’, ‘All-in sustaining cost per ounce’, ‘All-in cost per kilogram’ and ‘All-in cost per ounce’, which were introduced during the year ended 31 December 2013 by the World Gold Council (the Council). Total All-in cost excludes income tax, costs associated with merger and acquisition activities, working capital, impairments, financing costs, one-time severance charges and items needed to normalise earnings. All-in cost is made up of All-in sustaining cost, being the cost to sustain current operations, given as a sub-total in the All-in cost calculation, together with corporate and major capital expenditure growth.
- All-in cost margin is defined as revenue minus All-in cost divided by revenue.
- The 12 fatalities reported in 2014 excluded one fatality that occurred at Cooke before Sibanye took over management responsibility for this operation since 1 March 2014.
- Rate per million man hours worked.
- The Scope 1 and 2 emissions include fugitive mine methane. The Scope 3 emissions for 2015 total 866,745tCO2e and fugitive mine methane emissions for 2015 total 649,733tCO2e. We have chosen to report our Scope 1 and Scope 2 emissions separately from our Scope 3 emissions as Scope 1 and Scope 2 emissions are under our direct control while Scope 3 emissions represent the effect of our business activities across the supply chain. Although it is not a mandatory Intergovernmental Panel on Climate Change reporting category, we are also reporting our fugitive mine methane emissions in the Free State province of South Africa in line with the transparency principle of the ISO GHG quantification standard.
- Borrowings of R1,995 million that have recourse to Sibanye excludes the Burnstone Debt. Borrowings also exclude related-party loans.
- Earnings before interest, taxes, depreciation and amortisation (EBITDA) is defined as net operating profit before depreciation and amortisation. EBITDA may not be comparable to similarly titled measures of other companies. Management believes that EBITDA is used by investors and analysts to evaluate companies in the mining industry. EBITDA is not a measure of performance under IFRS.
- Net debt represents borrowings and bank overdraft less cash and cash equivalents. Borrowings are only those borrowings that have recourse to Sibanye and therefore exclude the Burnstone Debt. Borrowings also exclude related-party loans. Net debt excludes Burnstone cash and cash equivalents.
- The average exchange rate during the relevant period as reported by I-Net Bridge.
- The closing exchange rate at period end.
- Sibanye was previously a wholly owned subsidiary of Gold Fields. The Company separated from Gold Fields in February 2013 to become an independent and publicly traded company.