Harmony Gold Mining Company Limited

Harmony Gold Mining Co Ltd reported record financial results for fiscal year 2026, with revenue up 34% to R99.2 billion and net profit up 102% to R30 billion. Headline earnings per share rose 87% to R43.63, and the company declared a record final dividend of R7.50 per share, bringing the full-year dividend to R12.80 per share. Gold production met guidance for the 11th consecutive year at 1.43 million ounces, while copper production from CSA reached 18,200 tons at the upper end of guidance. The company's all-in sustaining cost margin for gold improved to 42%, and net debt to EBITDA stood at a low 0.02 times. Looking ahead, Harmony plans significant capital expenditure of R28 billion for fiscal year 2027, a 64% increase, to fund growth projects including the Eva Copper mine, which is on track for first production by the end of calendar 2028.

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.