DRDGOLD flags up to 74% increase in full-year earnings
Surface gold miner DRDGOLD expects to report an up to 74% increase in earnings per share (EPS) and headline earnings per share (HEPS) for the financial year ended June 30, primarily on the back of a 26% year-on-year increase in revenue.
The company's EPS and HEPS are expected to increase by between 64% and 74% year-on-year, to between 252.4c and 267.8c and between 154.3c and 154.1c, respectively.
Group revenue increaed by 26% year-on-year to R7.88-billion, as a result of a 31% increase in the rand gold price received and notwithstanding a marginal 3% decrease in gold sold from 4 990 kg to 4 818 kg.
Group cash operating costs, however, also increased by 4% year-on-year to R4.37-billion.
DRDGOLD points out in a trading statement ahead of the publication of its results on August 20 that it had met its production guidance of between 155 000 oz and 165 000 oz for the financial year. It produced 155 288 oz of gold for the year.
Meanwhile, capital expenditure (capex) decreased by 24% year-on-year to R2.25-billion, mainly owing to the practical completion of key projects, including the commissioning of reclamation sites and the solar plant and battery energy storage system at Ergo, for which significant capex was incurred in the 2024 financial year.
DRDGOLD further reports that it held R1.31-billion in cash and cash equivalents as at June 30, this year, compared with R521.5-million as at June 30, 2024.
During the year under review, the company had a free cash inflow of R1.23-billion, compared with a free cash outflow of R1.2-billion in the prior year, after a R759.3-million decrease in cash outflow from investing activities and paying cash dividends of R431-million, compared with dividend payments of R731.7-million in the 2024 financial year.
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