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Thu 28 Aug 2025
Close: 22 946c 
Day's move: -2 624c (-10.26%)
Volume: 6 389 254
Trades: 20 028
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Harmony - trading statement and operating update
Shareholders of Harmony were advised that a reasonable degree of certainty exists that basic earnings for FY25 will be higher than for the financial year ended 30 June 2024 ("the previous comparable period" or "FY24") primarily due to:
• an increase in group revenue as a result of continued operational excellence and a higher average gold price received. The average gold price received increased by 27% to R1 529 358/kg (USD2 620/oz) from R1 201 653/kg (USD1 999/oz)
• no impairment recognised on assets during FY25 due to headroom shown on all assets compared to R2 793 million (USD154 million) impairment in FY24.
The increase in earnings was partially offset by the following:
• an increase in production costs mainly due to inflationary increases on costs including labour, contractors, consumables and electricity;
• the royalty expense increased due to a higher rate being applied due to higher profits, as well as the increased revenue base to which it is applied;
• an increase in the taxation expense of approximately R3 500 million (USD200 million), of which approximately R1 750 million (USD100 million) relates to current taxation. The increase in current taxation was mainly due to higher profitability resulting from continued operational excellence and the increased gold price received. The remainder of the increase relates to deferred taxation, reflecting the change in temporary differences as well as the impact of changes in deferred tax rates applied for the majority of the group's South African mining companies.
Consequently, earnings per share ("EPS") are expected to be between 2 180 and 2 450 South African ("SA") cents per share, which is an increase of between 57% and 77% on the EPS of 1 386 SA cents per share for the previous comparable period. In United States ("US") dollar terms, the earnings per share is expected to be between 120 and 132 US cents per share, which is an increase of between 64% and 81% on the profit per share of 73 US cents per share reported for the previous comparable period.
Headline earnings per share ("HEPS") are expected to be between 2 190 and 2 500 SA cents per share, which represents an increase of between 18% and 35% from the HEPS of 1 852 SA cents per share reported in the previous comparable period. In US dollar terms, the headline earnings per share is expected to be between 121 and 137 US cents per share, which is an increase of between 22% and 38% on the HEPS of 99 US cents per share reported for the previous comparable period.
Harmony will publish its financial results for the financial year ended 30 June 2025 on Thursday, 28 August 2025.
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Harmony - final regulatory hurdle cleared
Harmony Gold Mining Company Ltd. ("Harmony" or the "Company") announced that its subsidiary Harmony Gold (Australia) (Pty) Ltd. has received written notice on behalf of the Australian Federal Treasurer stating that the Commonwealth Government does not object to the proposed acquisition of MAC Copper Ltd. by way of a Jersey law scheme of arrangement. This is further to the South African Reserve Bank (SARB) approval which was obtained on 5 August 2025.
The Scheme remains subject to the satisfaction of the remaining conditions as outlined in the Scheme Circular.
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Harmony - appointment of director
Frans Lombard has been appointed to the Board of Directors of Harmony as an independent non-executive director with effect from 14 August 2025.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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