Record Cash Flows and Financial Performance
Harmony delivered record high cash flows with adjusted free cash flow reaching over ZAR 11 billion at a 16% margin. Headline earnings per share rose by 26% to ZAR 23.37 per share, and a record final dividend of ZAR 2.4 billion will be paid.
Operational Excellence and Safety Improvements
Harmony achieved the lowest ever LTIFR in its history, with a company all-time low of 5.39 per million hours worked. The underground recovered grade guidance increased to 6.27 grams per tonne, exceeding upward revised grade guidance.
Strong Financial Position and Capital Allocation
Net cash on the balance sheet surged by 285% to ZAR 11.1 billion. Revenue grew by 20% to ZAR 74 billion, and net profit jumped 67% to ZAR 15.6 billion. The company has a leverage ratio of just 0.4x net debt to EBITDA, maintaining a conservative risk profile.
Sustained Growth and Strategic Initiatives
Harmony's growth story is built on high-grade assets and life of mine extension projects. The acquisition of MAC Copper and the advancement of Eva Copper project are expected to enhance portfolio durability and value.