Harmony Gold Mining Co Ltd

Latest Results (30.09.2025):

Harmony Gold Mining Co Ltd has reported strong interim financial results for the first half of the fiscal year 2025 (H1FY25). The company achieved record interim free cash flow and dividend payouts, driven by increased gold revenues, higher net profits, and a robust balance sheet. Harmony continues to enhance its production capabilities while maintaining a focus on safety and disciplined capital allocation.

Record Free Cash Flow and Dividend

Harmony Gold generated a record operating free cash flow of R10,392 million (US$579 million), marking a 46% increase from the previous year. The company also declared a record interim dividend of 227 SA cents (approximately 12.30 US cents) per share, reflecting a substantial payout of R1,441 million (US$78 million).

Increased Revenue and Profit

Group gold revenue surged by 19% to R35,447 million (US$1,976 million), while net profit rose by 33% to R7,929 million (US$445 million) compared to H1FY24. These increases were supported by a 23% rise in the average gold price received, enhancing Harmony’s financial performance.

Strong Balance Sheet

Harmony maintains a strong and flexible balance sheet with a record net cash position of R7,283 million (US$386 million). The company’s disciplined capital allocation strategy ensures continued growth and the creation of long-term value for shareholders.

Operational Efficiency

Despite a 4% decrease in total gold production to 24,816 kg (797,854 oz), Harmony managed to improve the underground recovered grade by 2% to 6.40 g/t. The company’s all-in sustaining costs (AISC) were kept below guidance, increasing by 15% to R972,261/kg (US$1,686/oz).

Safety Prioritization

Safety remains a top priority for Harmony, with the group LTIFR maintained at 5.52 per million hours worked, remaining below the threshold of 6.00. This focus on safety supports the company’s commitment to responsible mining practices.