GEMFIELDS GROUP LIMITED - Reviewed Interim results for the six months ended 30 June 2019

Reviewed Interim results for the six months ended 30 June 2019

GEMFIELDS GROUP LIMITED
(Incorporated in Guernsey)
(Guernsey registration Number: 47656)
(South African external company registration number 2009/012636/10)
Share code on the BSX: GML.BH ISIN: GG00BG0KTL52
Share code on the JSE: GML
("Gemfields" or the "Company")


Reviewed Interim Results for the six months ended 30 June 2019


Gemfields is a world leading supplier of responsibly sourced coloured gemstones. Gemfields is the operator and 75%
owner of both the Kagem emerald mine in Zambia (believed to be the world’s single largest producing emerald mine)
and the Montepuez ruby mine in Mozambique (one of the most significant recently discovered ruby deposits in the
world). In addition, Gemfields also holds controlling interests in various other gemstone mining and prospecting
licenses in Zambia, Mozambique, Ethiopia and Madagascar.

The content of this short form announcement is the responsibility of the board of directors of the Company.

Shareholders are advised that this short form announcement represents a summary of the information contained in
the full announcement and does not contain full or complete details of the financial results.

Any investment decisions by investors and/or shareholders should be based on the consideration of the full
announcement as a whole and shareholders are encouraged to review the full announcement, which is available for
viewing on the Company’s website www.gemfieldsgroup.com.

Please follow the link to the full results https://senspdf.jse.co.za/documents/2019/jse/isse/GMLE/Interim19.pdf

The full announcement may also be requested at Gemfields’ registered office, PO Box 186, Royal Chambers, St.
Julian’s Avenue, St. Peter Port, Guernsey, GY1 4HP, at no charge, during office hours from Monday 23 September
2019. Investors and/or shareholders may also request copies of the full announcement from the Company Secretary
via investor.relations@gemfields.com.

Financial and Operating Results:

                                                               Six months ended 30             Six months ended 30
                                                                         June 2019                       June 2018                  change
                                                                           USD’000                         USD’000                       %
 Revenue                                                                    88,960                         102,131                    -13%
 Operating Profit                                                           23,497                          32,477                    -28%
 Net Profit                                                                 12,443                          15,990                    -22%
 EPS/HEPS1                                                                    0.01                            0.01                    -17%
 EBITDA2                                                                    33,144                          32,148                      3%

                                                                      30 June 2019                    30 June 2018                  change
                                                                           USD’000                         USD’000                       %
 Net Asset Value                                                           564,186                         626,286                    -10%
 Net Cash/(debt)                                                            35,468                          31,574                     12%

1 Earnings Per Share (“EPS”) and Headline Earnings Per Share (“HEPS”) disclosed to 2 d.p. in the table above, % change based on actual number.
2 Earnings before interest, taxation, depreciation and amortisation.


Gemfields has not declared an interim dividend.


Additional information on Gemfields

Gemfields is a world leading supplier of responsibly sourced coloured gemstones. Gemfields is the operator and 75%
owner of both the Kagem emerald mine in Zambia (believed to be the world’s single largest producing emerald mine)
and the Montepuez ruby mine in Mozambique (one of the most significant recently discovered ruby deposits in the
world). In addition, Gemfields also holds controlling interests in various other gemstone mining and prospecting
licenses in Zambia, Mozambique, Ethiopia and Madagascar.

Gemfields’ outright ownership of Fabergé - an iconic and prestigious brand of exceptional heritage - enables
Gemfields to optimise positioning, perception and consumer awareness of coloured gemstones, advancing the wider
group’s “mine and market” vision.

Gemfields has developed a proprietary grading system and a pioneering auction and trading platform to provide a
consistent supply of coloured gemstones to downstream markets, a key component of Gemfields’ business model
and has played an important role in the growth of the global coloured gemstone sector.

Further information on Gemfields Group Limited can be found at www.gemfieldsgroup.com
To join our press release mailing list, click here: gemfields@gemfields.com
For any press enquiries please contact us on investor.relations@gemfields.com



London
20 September 2019

Sponsor
Investec Bank Limited

Date: 20/09/2019 07:09:00
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