Harmony Gold Mining Company Limited (HMY) Q4 2026 Earnings Call Transcript

Financial year 2026 was a defining year in Harmony's evolution into a diversified global gold and copper producer. Through safe, consistent operational delivery, disciplined execution and strategic investment, we achieved gold production guidance for the 11th consecutive financial year and delivered on all key operating guidance metrics. Group gold production of 1.43 million ounces was in line with guidance, while all-in sustaining cost of ZAR 1.19 million per kilogram or USD 2,195 per ounce remained within guidance also. Underground recovered gold grades of 5.83 grams per tonne was also in line with guidance. Following its acquisition, CSA contributed 18,207 tonnes of copper at a recovered grade of 3.75% and a C1 cash cost of USD 2.47 per pound, all within guidance. This performance translated into record financial results with revenue increasing 34% to ZAR 100 billion or USD 5.9 billion. Headline earnings per share increased by 87% to ZAR 43.63 per share. Group adjusted free cash flow increased by 54% to a record ZAR 17 billion or USD 1 billion. This enabled