Harmony Gold Reports Strong FY Results, Maintains FY27 Guidance

Earnings
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Summary · why it matters

Harmony Gold Mining reported fiscal-year non-GAAP EPS of R42.99 and group revenue up 34% to R99,238 million (US$5,876 million) from R73,896 million (US$4,071 million). The company achieved production guidance for the 11th consecutive year, with group gold production of 44,464kg (1,429,551oz), down 3% in line with guidance, and an underground recovered grade of 5.83g/t, above guidance. All-in sustaining cost increased 13% to R1,191,698/kg (US$2,195/oz), in line with guidance, while the average gold price received rose 35% to R2,069,710/kg (US$3,811/oz). In copper, production from CSA mine reached 18,207 tonnes, towards the upper end of guidance, with a recovered grade of 3.75% and C1 cash cost of US$2.47/lb, both well ahead of guidance. The company maintains its FY27 group production guidance.

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