23 Sep - 4 min read

Reviewed interim results for the six months ending 30 June 2021

Reviewed interim results for the six months ending 30 June 2021

Gemfields Group Limited                         
Incorporated in Guernsey. Guernsey registration Number: 47656.
South African external company registration number 2009/012636/10
Share code on JSE:GML / AIM:GEM
ISIN: GG00BG0KTL52 | LEI: 21380017GAVXTCYS5R31
("Gemfields" or the "Company")

Reviewed Interim Results for the Six Months Ending 30 June 2021


Gemfields is pleased to announce the Company’s financial results for the six months ending 30
June 2021 (“2021 Interim Results”). 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.

Sean Gilbertson, CEO of Gemfields, commented:

“We are delighted to announce our return to strong operational and financial performance after the Covid-induced
horrors of 2020. These results are a testament to the hard work put in by our teams in the first six months of the
year, including their textbook re-opening of the world’s largest emerald and ruby mines which produced no new
gemstone supply for a year given the need to preserve cash in the wake of the pandemic. With the mines back in full-
swing, a much-improved cash position and the step-change in market demand we’ve witnessed in our recent auctions,
we are palpably excited about the remainder of 2021.”

Any investment decision 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 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 and by following the
below link:

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 Thursday, 23 September 2021. Investors and/or shareholders may also request copies
of the full announcement from the Company Secretary via companysecretary@gemfields.com.

Financial and Operating Results:

                                                   Six months ended           Six months ended
                                                       30 June 2021               30 June 2020          change
                                                            USD’000                    USD’000              %
 Revenue                                                     97,236                     15,000            548%
 Operating Profit/(Loss)                                     39,641                   (64,727)            161%
 Net Profit/(Loss)                                           23,758                   (56,737)            142%
 EPS/LPS(1)                                                    0.02                    (0.04)            142%
 HEPS/HLPS(1)                                                  0.02                    (0.03)            148%
 EBITDA(2)                                                   43,471                   (24,702)            276%

                                                        30 June 2021              30 June 2020            change
                                                             USD’000                   USD’000               %
 Net Asset Value (Parent only)                               432,721                   442,728             (2%)
 Net Cash                                                     28,705                     9,281             209%

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

The short-form announcement has itself not been audited. However, the financial information
included herein has been extracted from the interim financial statements which have been reviewed
by the Company’s auditors, BDO LLP. The auditor’s report on those financial statements was not
qualified but included a material uncertainty over the going concern assumption and a reference to
the Directors’ disclosures on going concern. Please refer to the full report available at


                  Further information on Gemfields Group Limited can be found at:

                              To join our investor mailing list, contact us on:

                          For any press enquiries please contact us on:

 GEMFIELDS                         Sean Gilbertson / David Lovett / Mark Lawrie
                                   T: +44(0) 20 7518 3400

 SPONSOR (JSE)                     Investec Bank Limited

 SEDIBELO SALE PROCESS             Liberum
                                   Nehal Patel
                                   T: +44(0) 20 3100 2222

 NOMINATED ADVISER                 finnCap
 (AIM) & JOINT BROKER              Christopher Raggett / Tim Redfern / Edward Whiley
                                   T: +44(0) 20 7220 0500

 JOINT BROKER                      Liberum
                                   Scott Mathieson / Kane Collings
                                   T: +44(0) 20 3100 2222

 FINANCIAL PR/ IR                  Camarco
                                   Gordon Poole / Nick Hennis
                                   T: +44(0) 20 3757 4980


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.


                          GEMFIELDS.COM | INVESTORS |FOUNDATION

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                                   KAGEM MINING LINKEDIN

                              MONTEPUEZ RUBY MINING LINKEDIN

Date: 23-09-2021 08:00:00
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