Harmony Gold reports record cash flow, strong margins for FY25

Harmony Gold reported a 26% increase in headline earnings per share to SA cents 2,337, alongside a 67% rise in basic earnings per share to SA cents 2,313 for the year ended 30 June 2025. The company achieved record adjusted free cash flow, up 54% to R11,142 million, driven by higher recovered grades and an increased average gold price of R1,529,358/kg, a 27% year-on-year increase.

Underground recovered grades improved by 3% to 6.27g/t, with Mponeng showing a 19% production increase and exceptional grades of 11.27g/t. Total gold production decreased by 5% to 46,023kg, aligning with guidance. Group revenue grew by 20% to R73,896 million.

The board declared a final gross cash ordinary dividend of SA cents 155 per share, bringing the total FY25 payout to a record R2.4 billion. This dividend is payable on Monday, 13 October 2025, to shareholders recorded on Friday, 10 October 2025.