10. EARNINGS PER SHARE
ACCOUNTING POLICY
EPS is calculated based on the profit attributable to owners of Sibanye-Stillwater divided by the weighted average number of ordinary shares in issue during the year. A diluted EPS is presented when the inclusion of ordinary shares that may be issued in the future has a dilutive effect on EPS.
Headline EPS is calculated by dividing the headline earnings attributable to owners of Sibanye-Stillwater by the weighted average number of ordinary shares in issue during the year.
10.1 BASIC EARNINGS PER SHARE
Basic EPS is calculated by dividing the profit attributable to owners of Sibanye-Stillwater by the weighted average number of ordinary shares in issue during the year.
|
|
|
|
Revised |
Revised |
|
|
Notes |
2017 | 2016 | 2015 |
|
Weighted average number of shares |
|
|
|
|
|
Ordinary shares in issue (’000) |
|
2,168,721 |
929,004 |
916,140 |
|
Bonus element of the rights issue (’000) |
22 |
- |
493,645 |
493,645 |
|
Bonus element of the capitalisation issue (’000) |
34 |
86,749 |
129,272 |
129,272 |
|
Adjustment for weighting of ordinary shares in issue (’000) |
|
(321,620) |
(7,271) |
(4,102) |
|
Weighted average number of shares (’000) |
|
1,933,850 |
1,544,650 |
1,534,955 |
|
Profit attributable to owners of Sibanye-Stillwater (SA rand million) |
|
(4,437.4) |
3,473.3 |
716.9 |
|
Basic EPS (cents) |
|
(229) |
225 |
47 |
10.2 DILUTED EARNINGS PER SHARE
Diluted EPS is calculated by dividing the profit attributable to owners of Sibanye-Stillwater by the diluted number of ordinary shares in issue during the year.
Dilutive shares are the number of potentially dilutive ordinary shares that could be issued as a result of share options granted to employees under the share option schemes (refer to note 6) or as a result of the conversion of the US$450 million Convertible Bond (refer to note 24.4). At 31 December 2017, both of these were anti-dilutive.
|
|
|
|
Revised |
Revised |
|
|
|
2017 | 2016 | 2015 |
|
Diluted weighted average number of shares |
|
|
|
|
|
Weighted average number of shares (’000) |
|
1,933,850 |
1,544,650 |
1,534,955 |
|
Potential ordinary shares (’000) |
|
- |
2,161 |
5,671 |
|
Diluted weighted average number of shares (’000) |
|
1,933,850 |
1,546,811 |
1,540,626 |
|
Diluted basic EPS (cents) |
|
(229) |
225 |
47 |
10.3 HEADLINE EARNINGS PER SHARE
Reconciliation of (loss)/profit attributable to owners of Sibanye-Stillwater to headline earnings:
|
Figures in million - SA rand |
|
Notes |
Gross |
Net of tax |
|
31 December 2017 |
|
|
|
|
|
Loss attributable to owners of Sibanye-Stillwater |
|
|
|
(4,437.4) |
|
Gain on disposal of property, plant and equipment |
|
12 |
(40.7) |
(29.3) |
|
Impairments |
|
8 |
4,411.0 |
4,242.8 |
|
Headline earnings |
|
|
|
(223.9) |
|
Headline EPS - cents |
|
|
|
(12) |
|
31 December 2016 (Revised) |
|
|
|
|
|
Profit attributable to owners of Sibanye-Stillwater |
|
|
|
3,473.3 |
|
Gain on disposal of property, plant and equipment |
|
12 |
(95.4) |
(68.7) |
|
Impairments |
|
8 |
1,381.1 |
1,281.7 |
|
Gain on acquisition |
|
13.2 |
(2,178.6) |
(2,178.6) |
|
Headline earnings |
|
|
|
2,507.7 |
|
Headline EPS - cents |
|
|
|
162 |
|
31 December 2015 (Revised) |
|
|
|
|
|
Profit attributable to owners of Sibanye-Stillwater |
|
|
|
716.9 |
|
Gain on disposal of property, plant and equipment |
|
12 |
(58.7) |
(42.3) |
|
Headline earnings |
|
|
|
674.6 |
|
Headline EPS - cents |
|
|
|
44 |
10.4 DILUTED HEADLINE EARNINGS PER SHARE
Diluted headline EPS is calculated by dividing the headline earnings attributable to owners of Sibanye-Stillwater by the diluted weighted average number of ordinary shares in issue during the year.
|
|
|
|
Revised |
Revised |
|
|
|
2017 | 2016 | 2015 |
|
Diluted headline EPS - cents |
|
(12) |
162 |
44 |