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HARMONY GOLD MINING COMPANY LIMITED - Harmony - Results in dividends

Release Date: 17/08/2017 07:53:00      Code(s): HAR       PDF(s):  
Harmony - Results in dividends

Harmony Gold Mining Company Limited
("Harmony" or "Company")
Incorporated in the Republic of South Africa
Registration number 1950/038232/06
JSE share code: HAR
NYSE share code: HMY
ISIN: ZAE000015228


HARMONY REPORTS 35% INCREASE IN HEADLINE EARNINGS; DECLARES
DIVIDEND


Johannesburg: Thursday, 17 August 2017. Harmony Gold Mining
Company Limited (“Harmony” and/or “the Company”) today announced
its results for the year ended 30 June 2017 (FY17).


Key features – year on year
-   Milestone fatality free quarter achieved during the June
    2017 quarter; annual fatality rates improved
-   Met production guidance for a second consecutive year;
    underground grade increased for fifth consecutive year to
    5.07g/t
-   35% increase in headline earnings per share (HEPS) of 298 SA
    cents (47% to 22 US cents)
-   Continue to secure cash margins through a successful hedging
    strategy, realising gains of R1 747 million (US$128 million)
-   18% reduction in net debt to R887 million (8% to US$68
    million)
-   Growing ounces - acquired full ownership of Hidden Valley –
    stages 5 and 6 investment on track
-   Sustainable and inclusive solutions sought to address
    silicosis claims
-   Declared a final dividend for the financial year of 35 SA
    cents(3 US cents)


“Production is safer and more predictable, grade management is
disciplined, production delivery exceeds guidance, operations
are   generating  operational free  cash flow  and  the hedging
strategy secures cash margins. Combined with Harmony’s low net
debt compared to peers and its excellent growth opportunities,
Harmony continues to have a strong investment case.



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Our priorities are to grow our ounces and to pay dividends from
profits”, Peter Steenkamp, chief executive officer of Harmony
said.


Focused exploration targets, unlocking the value of Golpu and
identifying value accretive acquisitions remain key in
improving the quality of Harmony’s assets, driving down costs
and achieving its aspiration of being a 1.5 Moz producer in
financial year 2019. In FY17 the Company obtained 100%
ownership in Hidden Valley (180 000oz per annum) and commenced
with its Central Plant reclamation project
(15 000oz per annum).


Please refer to our presentation and results booklet that were
released today for further details on our strategy and our
financial results for the financial year ended 30 June 2017
(www.harmony.co.za).


For more details contact:
Lauren Fourie
Investor Relations Manager
+27 (0) 071 607 1498 (mobile)


Or


Marian van der Walt
Executive: Corporate and Investor Relations
+27 (0) 082 888 1242 (mobile)


17 August 2017
Sponsor:


J.P. Morgan Equities South Africa Proprietary Limited.
Ends

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