Harmony Gold Mining Co Ltd

Latest Results (26.12.2024):

Revenue Growth

For the year ended 30 June 2024, Harmony Gold Mining Co Ltd reported a 25% increase in group revenue, reaching R61,379 million (US$3,282 million), compared to R49,275 million (US$2,774 million) in the previous year. This growth was driven by higher gold prices and improved production performance across its operations.

Earnings Surge

Harmony Gold Mining Co Ltd experienced a significant rise in earnings for the year ended 30 June 2024. Headline earnings per share increased by 132% to 1,852 SA cents (99 US cents) per share, up from 800 SA cents (45 US cents) per share in the prior year. This reflects the company's strong operational performance and strategic focus on high-quality assets.

Production and Costs

During the year ended 30 June 2024, Harmony Gold Mining Co Ltd achieved a 6% increase in total gold production, reaching 48,578 kg (1,561,815 oz) from 45,651 kg (1,467,715 oz) in the previous year. The group also reported a 1% increase in all-in sustaining costs (AISC) to R901,550/kg (US$1,500/oz), maintaining cost discipline despite inflationary pressures.

Cash Flow and Balance Sheet

Harmony Gold Mining Co Ltd generated record operating free cash flow, up 111% to R12,743 million (US$681 million) for the year ended 30 June 2024. The company also strengthened its balance sheet, achieving a net cash position of R2,899 million (US$159 million), supported by strong liquidity of R12,649 million (US$695 million) in cash and undrawn facilities.

Dividend Declaration

For the year ended 30 June 2024, Harmony Gold Mining Co Ltd declared a final gross cash dividend of 94 SA cents (approximately 5.2 US cents) per ordinary share. This represents an increase from the previous year's final dividend of 75 SA cents (4.03 US cents), reflecting the company's robust financial performance and commitment to returning value to shareholders.