Harmony Gold Mining Company (NYSE:HMY) has released its financial and operational results for the fiscal year ended June 30, 2024, showcasing a remarkable performance marked by significant growth in earnings and production.
The company reported a dramatic 132% increase in headline earnings per share, rising from 800 South African cents (approximately 45 US cents) in the previous year to 1,852 South African cents (about 99 US cents).
Harmony Gold also enjoyed a substantial 25% increase in revenue, totaling R61,379 million (US$3,282 million), driven by a 6% increase in gold production, which reached 48,578 kilograms (1,561,815 ounces).
Despite the global challenges, the company managed a modest 1% increase in all-in sustaining costs (AISC), maintaining them at R901,550 per kilogram (US$1,500 per ounce), which reflects efficient cost management and operational excellence.
The mining giant further solidified its financial position with a strong net cash balance of R2,899 million (US$159 million), laying a solid foundation for future growth and operational activities.
Following the announcement, Harmony Gold Mining Company's share price remained unchanged at $9.02.