Company announcements Home » Investors » News » Company announcements » Harmony driven by excellence 2016 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 Harmony driven by excellenceAugust 17, 2016 6% increase in underground recovered grade 54% reduction in net debt to R1.08 billion (61% to US$74 million) Net profit of R949 million (US$64million) Dividend of 50 SA cents (approximately 4 US cents) Headline earnings per share (HEPS) of 221 SA cents (US 15 cents) Further enhancing portfolio of copper-gold assets Johannesburg: Wednesday, 17 August 2016. Harmony Gold Mining Company Limited (“Harmony” and/or “the Company”) today announced its results for the six months and year ended 30 June 2016. “Harmony is driven by excellence. We have a proactive approach to safety and health, with excellent operational and management teams, a world-class exploration team, we lead environmental rehabilitation in South Africa and we continued to differentiate ourselves through quality grade management, increasing underground grade for the fourth consecutive year – this year by 6% to 5.02g/t”, said Peter Steenkamp, chief executive officer of Harmony. Harmony’s revenue increased by 19% and the Company recorded a net profit of R949 million (US$64 million) on the back of a 21% increase in the R/kg gold price, combined with achieving its production guidance of approximately 1.1 million ounces. Net debt was reduced by 54% to R1.08 billion (61% to US$74 million). Production profit increased to R5.084 billion (US$350 million), up 81% from R2.802 billion (US$245 million) in FY15 after accounting for a 7% increase in cash operating costs (R821 million or US$171 million). Overall, cost increases were lower than inflation, with all-in sustaining cost (AISC) for all operations increasing by only 3% to R467 526/kg (decrease of 19% to $1 003/oz), compared to R453 044/kg ($1 231/oz) in FY15. “Having turned around the previous year’s headline loss to headline earnings of 221 SA cents (15 US cents), we felt it prudent to declare a dividend of 50 SA cents (about 4 US cents). It was indeed a good year for Harmony”, Peter Steenkamp added. For more details contact: Marian van der Walt Executive: Corporate and Investor Relations +27 (0) 82 888 1242 (mobile)
