Harmony delivers an outstanding full-year operational performance with strong cash flows; declares final dividend.
Johannesburg. Wednesday, 30 August 2023. Harmony Gold Mining Company Limited is pleased to announce its financial and operating results for the year ended 30 June 2023 (FY23).

“Our investment in our people, quality ounces and operational excellence continues to yield results. Over the past few years, we have shown resilience and demonstrated our ability to deliver to plan. We have created the necessary flexibility to maintain the strong momentum we have built at our mines. Our cost base is stable and predictable and we have implemented good controls ensuring our cost increases are in line with our plans. We have improved our safety performance and engineered a higher quality and diversified portfolio. As a result of our operational consistency and strong free cash flows, we have declared a full-year dividend of 75c per share, rewarding our shareholders alongside our growth aspirations. What we achieved in this financial year demonstrates we are succeeding in our goal of ‘Mining with Purpose’”, said Peter Steenkamp, chief executive officer of Harmony.

KEY HIGHLIGHTS OF FY23 ARE:
Ongoing focus on proactive safety, with LTIFR now below 6.00 for 2 consecutive years
16% increase in revenue to R49 275m (US$2 774m) from R42 645m (US$2 804m)
Production profit of R13 977m (US$787m), 46% increase from R9 546m (US$628m)
Operating free cash flow of R6 031m (US$339m) increased >100% from R2 905m (US$191m)
8% increase in underground recovered grade from 5.37g/t to 5.78g/t
1% decrease in gold production to 45 651kg (1 467 715oz) from 46 236kg (1 486 517oz)
Net debt to EBITDA at 0.2x
Total mineral resources and reserves to 137.8Moz and 39.3Moz respectively
Net profit of R4 883m (US$275m) compared to net loss of R1 012m (US$48m) in FY22
30MW Phase 1 renewable energy programme has been commissioned
HEPS increased by 60% to 800 SA cents (45 US cents) from a comparative headline earnings per share of 499 SA cents (33 US cents)
EPS increased by >100% to earnings of 780 SA cents per share (44 US cents) from a comparative loss per share of 172 SA cents (8 US cents)
Final dividend of 75 SA cents (approximately 4.03 US cents) per ordinary share declared (June 2022: 22 SA cents (1.3 US cents
OPERATING RESULTS

Year ended 30 June 2023 Year ended 30 June 2022 % change
Gold produced Kg 45 651 46 236 (1)
Oz 1 467 715 1 486 517 (1)
Underground grade g/t 5.78 5.37 8
Gold price received R/kg 1 032 646 894 218 15
US$/oz 1 808 1 829 (1)
Cash operating costs R/kg 735 634 701 024 (5)
US$/oz 1 288 1 434 10
Total costs and capital R/kg 902 073 834 937 (8)
US$/oz 1 579 1 707 7
All-in sustaining costs R/kg 889 766 835 891 (6)
US$/oz 1 558 1 709 9
Production profit R million 13 977 9 546 46
US$ million 787 628 25
Average exchange rate R:US$ 17.76 15.21 17
FINANCIAL RESULTS
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https://www.harmony.co.za/investors/news/company-announcements/2023/fy2023-short-form-30aug2023/