DRDGOLD (DRD) H2 2025 earnings summary

Executive summary

• Achieved record financial results for the year ended June 30, 2025, with revenue up 26% to R7,878.2 million and operating profit up 69% to R3,523.6 million, driven by a 31% increase in the gold price and stable operations.

• Headline earnings increased 69% to R2,246.4 million, with headline EPS up to 260.6 cps.

• Final cash dividend of 40 SA cents per share declared, marking the 18th consecutive year of dividends.

• Major capital projects advanced, including commissioning of a 60 MW solar PV plant and significant progress on tailings storage and pipeline infrastructure.

• Maintained a strong commitment to sustainable development, with ongoing ESG initiatives and concurrent rehabilitation of tailings facilities.

Financial highlights

• Revenue rose 26% year-over-year to R7,878.2 million, a record high; operating profit surged 69% to R3,523.6 million.

• Headline earnings: R2,246.4 million, up 69%; headline EPS: 260.6 cps.

• Cash operating costs increased 8% to R903,824/kg; all-in sustaining costs margin at 39%.

• Free cash flow exceeded R1.2 billion; closing cash and cash equivalents at R1,306.2 million.

• Capital expenditure totaled R2,254.9 million, mainly for growth projects.

Outlook and guidance

• FY2026 gold production guidance set at 140,000–150,000 ounces at cash operating costs of approximately R995,000/kg.

• Major capital projects, including Daggafontein and Withok TSFs and the RTSF, are on track for completion by Q1 2027.

• Vision 2028 targets sustainable gold production above 200,000oz/year and increased throughput to 3Mtpm.