Key features – five-year review

 201520141201320122011
Group operating statistics      
Gold producedkg47,77549,43244,47438,05945,005
000oz1,5361,5891,4301,2241,447
Ore milled000t19,86118,23513,62412,18514,648
Gold priceR/kg475,508440,615434,663434,943369,139
US$/oz1,1601,2671,4081,6521,590
Operating costR/t825785879888673
Operating profitRm6,3377,4697,3585,7306,752
Operating margin%2834383541
Total cash cost2R/kg347,613295,246273,281285,851220,224
US$/oz8488498851,086949
All-in sustaining cost3R/kg422,472372,492354,376382,687296,531
US$/oz1,0311,0711,1481,4531,277
All-in cost3R/kg430,746375,854354,376382,687296,531
US$/oz1,0511,0801,1481,4531,277
All-in cost margin4%915181220
Group sustainability statistics      
Total employeesNumber46,26944,41136,27442,08438,033
Fatalities5Number71291618
LTIFR6 6.745.876.136.905.79
Cyanide consumptiont11,92411,7583,7593,3953,224
CO2e emissions (Scope 1 and 2)7t5,015,6265,174,6884,407,6714,769,2834,550,698
Electricity consumptionMWh4,231,3624,274,2903,773,9193,835,1944,070,499
Water withdrawalMl114,735116,85176,63764,78849,197
Salaries and wagesRm7,3456,6656,1565,7915,591
Current tax and royaltiesRm1,0971,3101,224757953
Socio-economic developmentRm6911,0551,050853670
Group financial statistics      
Income statement      
RevenueRm22,71721,78119,33116,55416,613
Net operating profitRm2,7004,2154,2543,3674,559
Profit for the yearRm5381,5071,6982,9802,563
Profit for the year attributable to owners of SibanyeRm7171,5521,6922,9802,564
Basic earnings per sharecents79186260297,960,000256,410,000
Diluted earnings per sharecents78182255297,960,000256,410,000
Headline earnings per sharecents74170355297,790,000256,130,000
Dividend per sharecents721253773,130,000242,330,000
Weighted average number of shares’000912,038835,936650,62111
Diluted weighted average number of shares’000917,709854,727664,28811
Number of shares in issue at end of period’000916,140898,840735,07911
Statement of financial position      
Property, plant and equipmentRm22,13222,70415,15116,37615,359
Cash and cash equivalentsRm7175631,492292363
Total assetsRm28,26627,92219,99519,69818,492
Net assets/(liabilities)Rm14,98514,9869,423(9,673)(11,976)
Stated share capitalRm21,73521,73517,246
Borrowings8Rm3,8043,1701,9914,220
Total liabilitiesRm13,28112,93610,57229,37130,468
Statement of cash flows      
Cash from operating activitiesRm3,5154,0536,3602,6213,861
Cash used in investing activitiesRm(3,340)(4,309)(3,072)(3,126)(3,005)
Cash (used in)/flows from financing activitiesRm(21)(673)(2,088)434(1,529)
Net increase/(decrease) in cash and cash equivalentsRm155(930)1,201(71)(673)
Other financial data      
EBITDA9Rm6,3377,4697,3585,7306,752
Net debt (cash)10Rm1,3621,5064993,928(363)
Net debt to EBITDAratio0.210.200.070.69(0.05)
Net asset value per shareR16.3616.6712.80(9,672,700.00)(11,975,600.00)
Average exchange rate11R/US$12.7510.829.608.197.22
Closing exchange rate12R/US$15.5411.5610.348.578.13
Share data      
Ordinary share price – highR32.2629.5216.30n/a13n/a13
Ordinary share price – lowR13.6612.346.73n/a13n/a13
Ordinary share price at year endR22.8522.5512.30n/a13n/a13
Average daily volume of shares traded 3,024,4912,868,8424,754,958n/a13n/a13
Market capitalisation at year endRbn20.920.39.04n/a13n/a13
Notes
  1. 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.
  2. 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.
  3. 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.
  4. All-in cost margin is defined as revenue minus All-in cost divided by revenue.
  5. 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.
  6. Rate per million man hours worked.
  7. 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.
  8. Borrowings of R1,995 million that have recourse to Sibanye excludes the Burnstone Debt. Borrowings also exclude related-party loans.
  9. 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.
  10. 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.
  11. The average exchange rate during the relevant period as reported by I-Net Bridge.
  12. The closing exchange rate at period end.
  13. 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.

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