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OPERATING SGEMENTS (Tables)
12 Months Ended
Jun. 30, 2021
Operating Segments [abstract]  
Disclosure of operating segments Explanatory
Other
2021
reconciling
Amounts in R million
Ergo
FWGR
items
 
Total
Financial performance
Revenue (External)
3,943.0
1,326.0
-
5,269.0
Cash operating costs
(2,666.5)
(406.2)
-
(3,072.7)
Movement in gold in process and finished inventories - Gold Bullion
(31.9)
6.3
-
(25.6)
Segment operating profit
1,244.6
926.1
-
2,170.7
Administration expenses and other costs
15.0
1.8
(80.8)
(64.0)
Interest income
 
1
1.3
0.1
107.7
109.1
Dividends received
7.1
-
69.0
76.1
Interest expense
 
2
(4.2)
(0.3)
(12.9)
(17.4)
Current tax
(196.1)
(227.6)
-
(423.7)
Working profit before additions to property, plant and equipment
1,067.7
700.1
83.0
1,850.8
Additions to property, plant and equipment
(250.9)
(143.3)
(1.5)
(395.7)
Working profit after additions to property, plant and equipment
816.8
556.8
81.5
1,455.1
1
 
Interest income excludes the unwinding of the Payments
 
made under protest
2
 
Interest expense excludes the discount recognised on
 
the initial recognition of the Payments made under
 
protest and unwinding of provision for
environmental rehabilitation
Reconciliation of cost of sales to cash operating costs
 
Cost of sales
 
(2,871.0)
(517.2)
-
(3,388.2)
- Depreciation
 
135.6
115.6
1.3
252.5
- Change in estimate of environmental rehabilitation recognised in
profit or loss
(7.2)
-
(5.2)
(12.4)
- Movement in gold in process and finished inventories - gold Bullion
31.9
(6.3)
-
25.6
- Ongoing rehabilitation expenditure
46.6
1.7
-
48.3
- Care and maintenance
-
-
3.9
3.9
- Other operating income/(costs)
 
(2.4)
-
-
(2.4)
Cash operating costs
(2,666.5)
(406.2)
-
(3,072.7)
Reconciliation of profit for the year to working profit before additions to property, plant and equipment
Profit for the year
751.7
528.8
159.4
1,439.9
- Deferred tax
66.6
37.4
(4.0)
100.0
- Net other operating costs/(income)
45.4
24.2
(68.1)
1.5
- Ongoing rehabilitation expenditure
46.6
1.7
-
48.3
- Discount recognised on Payments made under protest including
subsequent unwinding
2.6
-
-
2.6
- Unwinding of provision for environmental rehabilitation
34.2
9.5
1.0
44.7
- Growth in investment in environmental obligation funds
(7.7)
(17.1)
(1.4)
(26.2)
- Other income
(0.1)
-
-
(0.1)
- Change in estimate of environmental rehabilitation recognised in
profit or loss
(7.2)
-
(5.2)
(12.4)
- Depreciation
135.6
115.6
1.3
252.5
Working profit before additions to property, plant and equipment
1,067.7
700.1
83.0
1,850.8
Statement of cash flows
Cash inflows from operating activities
842.2
649.7
81.5
1,573.4
Cash outflows from investing activities
(290.8)
(149.2)
(6.6)
(446.6)
Cash (outflows)/inflows from financing activities
(549.9)
(501.4)
397.8
(653.5)
Reconciliation of adjusted EBITDA
Profit for the year
1,439.9
Income tax
523.7
Profit before tax
1,963.6
Finance expense
69.5
Finance income
(216.2)
Results from operating activities
1,816.9
Depreciation
252.5
Share-based payment benefit
(28.3)
Change in estimate of environmental rehabilitation recognised in profit
or loss
(12.4)
Gain on disposal of property, plant and equipment
(0.1)
IFRS 16 lease payments
' 1
(15.8)
Transaction costs
3.1
Adjusted EBITDA
 
2
2,015.9
1
 
The amended RCF includes IFRS 16 lease payments
 
in the calculation of the adjusted EBITDA
2
 
Adjusted EBITDA (that was considered from the year ended
 
30 June 2019 following the initial RCF agreement)
 
may not be comparable to
similarly titled measures of other companies. Adjusted
 
EBITDA is not a measure of performance
 
under IFRS and should be considered in
addition to, and not as a substitute for, other measures of financial
 
performance and liquidity.
Other
2020
reconciling
Amounts in R million
Ergo
FWGR
items
 
Total
Financial performance
Revenue (External)
3,064.3
1,120.7
-
4,185.0
Cash operating costs
(2,274.0)
(352.0)
-
(2,626.0)
Movement in gold in process and finished inventories - Gold Bullion
1.8
1.3
-
3.1
Segment operating profit
792.1
770.0
-
1,562.1
Administration expenses and other costs
 
(131.6)
(20.7)
(157.6)
(309.9)
Interest income
 
1
13.9
2.9
46.3
 
3
63.1
 
3
Dividends received
-
-
4.3
 
3
4.3
 
3
Interest expense
 
2
(5.2)
-
(4.5)
(9.7)
Current tax
(145.8)
(117.4)
-
(263.2)
Working profit/(loss) before additions to property, plant and equipment
523.4
634.8
(111.5)
1,046.7
Additions to property, plant and equipment
(114.4)
(68.0)
(0.3)
(182.7)
Working profit/(loss) after additions to property, plant and equipment
409.0
566.8
(111.8)
864.0
1
 
Interest income excludes the unwinding of the Payments
 
made under protest
2
 
Interest expense excludes the discount recognised on
 
the initial recognition of the Payments made under
 
protest and unwinding of provision
for environmental rehabilitation
3
 
During 2021, the Group disaggregated “Interest
 
income” into “Interest income” and “Dividends
 
received” respectively to present material
dividends received
Reconciliation of cost of sales to cash operating costs
Cost of sales
(2,453.4)
(473.3)
(11.2)
(2,937.9)
- Depreciation
150.4
119.6
0.8
270.8
- Change in estimate of environmental rehabilitation recognised in
profit or loss
(19.1)
(2.1)
(0.7)
(21.9)
- Movement in gold in process and finished inventories - gold Bullion
(1.8)
(1.3)
-
(3.1)
- Ongoing rehabilitation expenditure
22.3
2.0
-
24.3
- Care and maintenance
-
-
11.1
(11.1)
- Other operating income/(costs)
27.6
3.1
-
30.7
Cash operating costs
(2,274.0)
(352.0)
-
-
(2,626.0)
Reconciliation of profit/(loss) for the year to working profit/(loss) before additions to property, plant and equipment
Profit/(loss) for the year
297.1
424.9
(87.0)
635.0
- Deferred tax
(6.6)
86.5
0.8
80.7
- Net other operating costs/(income)
51.5
14.8
(24.5)
41.8
- Ongoing rehabilitation expenditure
22.3
2.0
-
24.3
- Discount recognised on Payments made under protest including
subsequent unwinding
3.2
-
-
3.2
- Unwinding of provision for environmental rehabilitation
36.5
14.3
1.2
52.0
- Growth in investment in environmental obligation funds
(11.2)
(25.2)
(2.1)
(38.5)
- Other income
(0.7)
-
-
(0.7)
- Change in estimate of environmental rehabilitation recognised in
profit or loss
(19.1)
(2.1)
(0.7)
(21.9)
- Depreciation
150.4
119.6
0.8
270.8
Working profit/(loss) before additions to property, plant and equipment
523.4
634.8
(111.5)
1,046.7
Statement of cash flows
Cash inflows from operating activities
546.1
563.1
19.7
1,128.9
Cash outflows from investing activities
(135.7)
(60.1)
(6.7)
(202.5)
Cash (outflows)/inflows from financing activities
(405.5)
(500.8)
1,415.5
509.2
Reconciliation of adjusted EBITDA
Profit for the year
635.0
Income tax
343.9
Profit before tax
978.9
Finance expense
68.8
Finance income
(109.8)
Results from operating activities
937.9
Depreciation
270.8
Share-based payment expense
224.1
Change in estimate of environmental rehabilitation recognised in
profit or loss
(21.9)
Gain on disposal of property, plant and equipment
(0.7)
Transaction costs
1.4
Adjusted EBITDA
 
1
1,411.6
1
Adjusted EBITDA (that was considered from the year ended
 
30 June 2019 following the initial RCF agreement)
 
may not be comparable to
similarly titled measures of other companies. Adjusted
 
EBITDA is not a measure of performance
 
under IFRS and should be considered in
addition to, and not as a substitute for, other measures of financial
 
performance and liquidity.
Other
2019
reconciling
Amounts in R million
Ergo
FWGR
items
 
Total
Financial performance
Revenue (External)
2,577.5
184.6
-
2,762.1
Cash operating costs
(2,311.1)
(111.8)
-
(2,422.9)
Movement in gold in process and finished inventories - Gold Bullion
16.4
16.2
-
32.6
Segment operating profit
282.8
89.0
-
371.8
Retrenchment costs
(1.6)
(4.7)
-
(6.3)
Administration expenses and other costs
(12.0)
(2.3)
(76.6)
(90.9)
Interest income
 
1
6.5
-
10.4
16.9
 
1
Interest expense
 
2
(2.4)
-
(3.2)
(5.6)
 
2
Current tax
1.6
-
-
1.6
Working profit/(loss) before additions to property, plant and equipment
274.9
82.0
(69.4)
287.5
Additions to property, plant and equipment
(22.8)
(330.7)
(0.2)
(353.7)
Working profit/(loss) after additions to property, plant and equipment
252.1
(248.7)
(69.6)
(66.2)
1
Interest income excludes the unwinding of the Payments
 
made under protest
2
Interest expense excludes the discount recognised on
 
the initial recognition of the Payments made under
 
protest
Reconciliation of cost of sales to cash operating costs
Cost of sales
(2,414.7)
(131.3)
(7.9)
(2,553.9)
- Depreciation
142.8
25.7
0.6
169.1
- Change in estimate of environmental rehabilitation recognised in
profit or loss
(58.6)
-
(1.4)
(60.0)
- Movement in gold in process and finished inventories - gold Bullion
(16.4)
(16.2)
-
(32.6)
- Ongoing rehabilitation expenditure
16.6
1.7
-
18.3
- Care and maintenance
-
-
8.8
8.8
- Other operating income/(costs)
19.2
8.3
(0.1)
27.4
Cash operating costs
(2,311.1)
(111.8)
-
(2,422.9)
Reconciliation of profit/(loss) for the year to working profit/(loss) before additions to property, plant and equipment
Profit/(loss) for the year
82.3
28.7
(32.5)
78.5
- Deferred tax
16.2
13.4
(1.4)
28.2
- Net other operating costs/(income)
40.2
15.4
(25.7)
29.9
- Ongoing rehabilitation expenditure
16.6
1.7
-
18.3
- Discount recognised on Payments made under protest including
subsequent unwinding
3.5
-
-
3.5
- Unwinding of provision for environmental rehabilitation
45.4
19.6
1.3
66.3
- Other income
(2.2)
-
(5.7)
(7.9)
- Growth in environmental rehabilitation obligation funds
(11.3)
(22.5)
(4.6)
(38.4)
- Change in estimate of provision for environmental rehabilitation
recognised in profit or loss
(58.6)
-
(1.4)
(60.0)
- Depreciation
142.8
25.7
0.6
169.1
Working profit/(loss) before additions to property, plant and equipment
274.9
82.0
(69.4)
287.5
Statement of cash flows
Cash inflows/(outflows) from operating activities
221.7
89.3
(22.7)
288.3
Cash (outflows)/inflows from investing activities
(39.4)
(324.4)
60.8
(303.0)
Cash (outflows)/inflows from financing activities
(291.7)
236.7
47.1
(7.9)
Reconciliation of adjusted EBITDA
Profit for the year
78.5
Income tax
26.6
Profit before tax
105.1
Finance expense
78.4
Finance income
(58.3)
Results from operating activities
125.2
Depreciation
169.1
Share-based payment expense
21.4
Change in estimate of environmental rehabilitation recognised in profit
(60.0)
Gain on financial instruments at fair value through profit or loss
(2.1)
Gain on disposal of property, plant and equipment
(5.8)
Retrenchment costs
6.3
Adjusted EBITDA
1
254.1
 
1
1
 
Adjusted EBITDA (that was considered from the year ended
 
30 June 2019 following the initial RCF agreement)
 
may not be comparable to
similarly titled measures of other companies. Adjusted
 
EBITDA is not a measure of performance
 
under IFRS and should be considered in
addition to, and not as a substitute for, other measures of financial
 
performance and liquidity.