Harmony Gold Mining Company Limited

Harmony Gold Mining Company Limited Earnings Recaps

HMY Materials 1 recap
Q4 2025 Aug 28, 2025

Harmony delivered robust financial results in FY ‘25, achieving record cash flows and maintaining consistent production while enhancing safety protocols. The company reported a 26% increase in headline earnings per share and reached the upper end of its gold production guidance.

Key takeaways
  • Adjusted free cash flow surged 54% to over ZAR 11 billion at a 16% margin.
  • Headline earnings per share rose 26% to ZAR 23.37; a record final dividend of ZAR 2.4 billion was declared.
  • Gold production hit 46 tonnes (1.48 million ounces), consistent with production guidance, while maintaining all-in sustaining costs at ZAR 1.05 million per kilogram (approximately USD 1,800 per ounce).
  • Achieved the lowest ever Lost-Time Injury Frequency Rate (LTIFR) in company history, reflecting a commitment to improving safety culture.
  • The operational strategy focuses on high-quality ore bodies and disciplined cost management to ensure resilience across commodity cycles.
Full recap