| Notes | Unaudited six months ended 31 December 2024 Rm |
Unaudited six months ended 31 December 2023 Rm |
Audited year ended 30 June 2024 Rm |
|||||
| ASSETS | ||||||||
| Non-current assets | ||||||||
| Property, plant and equipment | 4 | 18 982 | 15 584 | 18 128 | ||||
| Investment properties | 25 | 24 | 25 | |||||
| Intangible assets | 47 | 53 | 50 | |||||
| Deferred tax assets | 924 | 920 | 921 | |||||
| Non-current financial assets | 10 | 174 | 100 | 187 | ||||
| Reinsurance contract asset | 15 | 119 | – | 16 | ||||
| Investment in associate | 5 | 1 556 | 1 899 | 1 467 | ||||
| Investment in joint venture | 6 | 20 671 | 21 321 | 21 341 | ||||
| Other investments | 7 | 11 497 | 9 167 | 12 857 | ||||
| Non-current inventories | 8 | 169 | – | 330 | ||||
| 54 164 | 49 068 | 55 322 | ||||||
| Current assets | ||||||||
| Inventories | 908 | 1 157 | 788 | |||||
| Trade and other receivables | 9 | 5 451 | 5 211 | 5 187 | ||||
| Insurance contract asset | 15 | 27 | – | 21 | ||||
| Reinsurance contract asset | 15 | 58 | – | 8 | ||||
| Taxation | 105 | 201 | 223 | |||||
| Financial assets | 10 | 398 | 637 | 817 | ||||
| Cash and cash equivalents | 11 | 8 207 | 8 128 | 8 326 | ||||
| 15 154 | 15 334 | 15 370 | ||||||
| Total assets | 69 318 | 64 402 | 70 692 | |||||
| EQUITY AND LIABILITIES | ||||||||
| Capital and reserves | ||||||||
| Ordinary share capital | 11 | 11 | 11 | |||||
| Share premium | 5 267 | 5 267 | 5 267 | |||||
| Treasury shares | (2 405) | (2 405) | (2 405) | |||||
| Other reserves | 8 504 | 6 599 | 9 485 | |||||
| Retained earnings | 41 277 | 40 894 | 41 648 | |||||
| Equity attributable to equity holders of ARM | 52 654 | 50 366 | 54 006 | |||||
| Non-controlling interest | 4 134 | 4 077 | 4 081 | |||||
| Total equity | 56 788 | 54 443 | 58 087 | |||||
| Non-current liabilities | ||||||||
| Long-term borrowings | 12 | 1 712 | 157 | 631 | ||||
| Deferred tax liabilities | 4 382 | 3 710 | 4 635 | |||||
| Insurance contract liabilities | 15 | 119 | – | 33 | ||||
| Long-term provisions | 20 | 2 092 | 2 619 | 1 812 | ||||
| 8 305 | 6 486 | 7 111 | ||||||
| Current liabilities | ||||||||
| Trade and other payables | 1 630 | 1 651 | 2 554 | |||||
| Short-term provisions | 20 | 891 | 644 | 1 231 | ||||
| Insurance contract liabilities | 15 | 58 | 28 | 16 | ||||
| Reinsurance contract liabilities | 15 | 894 | 790 | 850 | ||||
| Taxation | 330 | 324 | 345 | |||||
| Overdrafts and short-term borrowings | 12 | 422 | 36 | 498 | ||||
| 4 225 | 3 473 | 5 494 | ||||||
| Total equity and liabilities | 69 318 | 64 402 | 70 692 |
| Notes | Unaudited six months ended 31 December 2024 Rm |
Unaudited six months ended 31 December 2023 Rm |
Audited year ended 30 June 2024 Rm |
|||||
| Revenue | 3 | 6 381 | 6 604 | 12 921 | ||||
|---|---|---|---|---|---|---|---|---|
| Sales | 3 | 5 706 | 5 815 | 11 418 | ||||
| Cost of sales | (5 824) | (5 206) | (10 541) | |||||
| Gross profit | (118) | 609 | 877 | |||||
| Other operating income | 795 | 955 | 1 914 | |||||
| Insurance revenue | 15 | 24 | 22 | 45 | ||||
| Other operating expenses | (1 067) | (1 354) | (2 729) | |||||
| Insurance service (expenses)/income | 15 | (141) | 38 | (6) | ||||
| Net income/(expenses) from reinsurance contracts held | 15 | 98 | (58) | (25) | ||||
| (Loss)/profit from operations before capital items | (409) | 212 | 76 | |||||
| Income from investments | 472 | 541 | 1 123 | |||||
| Finance costs | (172) | (130) | (192) | |||||
| Net finance expenses from insurance contracts held | 15 | (8) | (6) | (6) | ||||
| Net finance expenses from reinsurance contracts held | 15 | (23) | (28) | (57) | ||||
| Share of profit from associate | 89 | 52 | 60 | |||||
| Share of profit from joint venture | 6 | 1 754 | 2 527 | 4 592 | ||||
| Profit before taxation and capital items | 1 703 | 3 168 | 5 596 | |||||
| Capital items before tax | 13 | 1 | (3 331) | (3 396) | ||||
| Profit/(loss) before taxation | 1 704 | (163) | 2 200 | |||||
| Taxation | 16 | (257) | 525 | 96 | ||||
| Profit for the period | 1 447 | 362 | 2 296 | |||||
| Attributable to: | ||||||||
| Equity holders of ARM | ||||||||
| Profit for the period | 1 394 | 1 216 | 3 146 | |||||
| Basic earnings for the period | 1 394 | 1 216 | 3 146 | |||||
| Non-controlling interest | ||||||||
| Profit/(loss) for the period | 53 | (854) | (850) | |||||
| 53 | (854) | (850) | ||||||
| Profit for the period | 1 447 | 362 | 2 296 | |||||
| Earnings per share | ||||||||
| Basic earnings per share (cents) | 14 | 711 | 620 | 1 604 | ||||
| Diluted basic earnings per share (cents) | 14 | 709 | 620 | 1 603 |
| Financial instruments at fair value through other comprehensive income Rm |
Other Rm |
Retained earnings Rm |
Total share- holders of ARM Rm |
Non- controlling interest Rm |
Total Rm |
|||
| Six months ended 31 December 2024 (Unaudited) | ||||||||
| Profit for the period | – | – | 1 394 | 1 394 | 53 | 1 447 | ||
| Total other comprehensive (loss)/income | (1 029) | 78 | – | (951) | – | (951) | ||
| Other comprehensive income that will not be reclassified to the statement of profit or loss in subsequent periods: | ||||||||
| Net impact of revaluation of listed investment – Harmony | (1 017) | – | – | (1 017) | – | (1 017) | ||
| Revaluation of listed investment1 | (1 297) | – | – | (1 297) | – | (1 297) | ||
| Deferred tax on above | 280 | – | – | 280 | – | 280 | ||
| Net impact of revaluation of listed investment – Surge Copper | (12) | – | – | (12) | – | (12) | ||
| Revaluation of listed investment1 | (15) | – | – | (15) | – | (15) | ||
| Deferred tax on above | 3 | – | – | 3 | – | 3 | ||
| Other comprehensive income that may be reclassified to the statement of profit or loss in subsequent periods: | ||||||||
| Foreign currency translation reserve movement | – | 78 | – | 78 | – | 78 | ||
| Total comprehensive (loss)/income for the period | (1 029) | 78 | 1 394 | 443 | 53 | 496 | ||
| Six months ended 31 December 2023 (Unaudited) | ||||||||
| Profit for the period | – | – | 1 216 | 1 216 | (854) | 362 | ||
| Total other comprehensive income/(loss) | 2 361 | (21) | – | 2 340 | – | 2 340 | ||
| Other comprehensive income that will not be reclassified to the statement of profit or loss in subsequent periods: | ||||||||
| Net impact of revaluation of listed investment – Harmony | 2 361 | – | – | 2 361 | – | 2 361 | ||
| Revaluation of listed investment1 | 3 012 | – | – | 3 012 | – | 3 012 | ||
| Deferred tax on above | (651) | – | – | (651) | – | (651) | ||
| Other comprehensive income that may be reclassified to the statement of profit or loss in subsequent periods: | ||||||||
| Foreign currency translation reserve movement | – | (21) | – | (21) | – | (21) | ||
| Total comprehensive income/(loss) for the period | 2 361 | (21) | 1 216 | 3 556 | (854) | 2 702 | ||
| Year ended 30 June 2024 (Audited) | ||||||||
| Profit for the year | – | – | 3 146 | 3 146 | (850) | 2 296 | ||
| Total other comprehensive income/(loss) | 5 217 | (66) | – | 5 151 | – | 5 151 | ||
| Other comprehensive loss that will not be reclassified to the statement of profit or loss in subsequent periods: | ||||||||
| Net impact of revaluation of listed investment – Harmony | 5 198 | – | – | 5 198 | – | 5 198 | ||
| Revaluation of listed investment1 | 6 630 | – | – | 6 630 | – | 6 630 | ||
| Deferred tax on above | (1 432) | – | – | (1 432) | – | (1 432) | ||
| Net impact of revaluation of listed investment – Surge Copper | 19 | – | – | 19 | – | 19 | ||
| Revaluation of listed investment1 | 24 | – | – | 24 | – | 24 | ||
| Deferred tax on above | (5) | – | – | (5) | – | (5) | ||
| Other comprehensive income that may be reclassified to the statement of profit or loss in subsequent periods: | ||||||||
| Foreign currency translation reserve movement | – | (66) | – | (66) | – | (66) | ||
| Total comprehensive income/(loss) for the year | 5 217 | (66) | 3 146 | 8 297 | (850) | 7 447 |
| 1 | The share price of Harmony Limited at 31 December 2024 was R150.68, R119.59 at 31 December 2023 and R168.05 at
30 June 2024 per share. The share price of Surge Copper Corp of CAD0.12 per share translated to R13.12 at 31 December 2024 and CAD0.14 per share translated to R13.33 at 30 June 2024. The valuation of the investment in Harmony Limited and Surge Copper Corp is based on a level 1 fair value hierarchy level in terms of IFRS Accounting Standards. ARM shareholding in Harmony Limited at 31 December 2024 was 11.76% (31 December 2023: 12.04%, 30 June 2024: 11.80%). |
| Other reserves | |||||||||
| Share capital and premium Rm |
Treasury shares Rm |
Financial instruments at fair value through other comprehensive income Rm |
Share-based payments Rm |
Other Rm |
Retained earnings Rm |
Total share-holders of ARM Rm |
Non-controlling interest2 Rm |
Total Rm |
|
| Six months ended 31 December 2024 (Unaudited) | |||||||||
| Balance at 30 June 2024 | 5 278 | (2 405) | 9 002 | 323 | 160 | 41 648 | 54 006 | 4 081 | 58 087 |
| Total comprehensive (loss)/income for the period | – | – | (1 029) | – | 78 | 1 394 | 443 | 53 | 496 |
| Profit for the period | – | – | – | – | – | 1 394 | 1 394 | 53 | 1 447 |
| Other comprehensive (loss)/income | – | – | (1 029) | – | 78 | – | (951) | – | (951) |
| Conditional shares issued to employees | – | – | – | (95) | – | – | (95) | – | (95) |
| Dividend paid1 | – | – | – | – | – | (1 765) | (1 765) | – | (1 765) |
| Share-based payment expense | – | – | – | 70 | – | – | 70 | – | 70 |
| Other | – | – | – | (5) | – | – | (5) | – | (5) |
| Balance at 31 December 2024 | 5 278 | (2 405) | 7 973 | 293 | 238 | 41 277 | 52 654 | 4 134 | 56 788 |
| Six months ended 31 December 2023 (Unaudited) | |||||||||
| Balance at 30 June 2023 | 5 278 | (2 405) | 3 785 | 299 | 226 | 42 031 | 49 214 | 4 931 | 54 145 |
| Total comprehensive income/(loss) for the period | – | – | 2 361 | – | (21) | 1 216 | 3 556 | (854) | 2 702 |
| Profit for the period | – | – | – | – | – | 1 216 | 1 216 | (854) | 362 |
| Other comprehensive income/(loss) | – | – | 2 361 | – | (21) | – | 2 340 | – | 2 340 |
| Conditional share issued to employees | – | – | – | (123) | – | – | (123) | – | (123) |
| Dividend paid2 | – | – | – | – | – | (2 353) | (2 353) | – | (2 353) |
| Share-based payment expense | – | – | – | 75 | – | – | 75 | – | 75 |
| Other | – | – | – | (3) | – | – | (3) | – | (3) |
| Balance at 31 December 2023 | 5 278 | (2 405) | 6 146 | 248 | 205 | 40 894 | 50 366 | 4 077 | 54 443 |
| Year ended 30 June 2024 (Audited) | |||||||||
| Balance at 30 June 2023 | 5 278 | (2 405) | 3 785 | 299 | 226 | 42 031 | 49 214 | 4 931 | 54 145 |
| Total comprehensive income/(loss) for the year | – | – | 5 217 | – | (66) | 3 146 | 8 297 | (850) | 7 447 |
| Profit for the year 30 June 2024 | – | – | – | – | – | 3 146 | 3 146 | (850) | 2 296 |
| Other comprehensive income/(loss) | – | – | 5 217 | – | (66) | – | 5 151 | – | 5 151 |
| Conditional shares issued to employees | – | – | – | (123) | – | – | (123) | – | (123) |
| Dividend paid3 | – | – | – | – | – | (3 529) | (3 529) | – | (3 529) |
| Share-based payment expense | – | – | – | 151 | – | – | 151 | – | 151 |
| Other | – | – | – | (4) | – | – | (4) | – | (4) |
| Balance at 30 June 2024 | 5 278 | (2 405) | 9 002 | 323 | 160 | 41 648 | 54 006 | 4 081 | 58 087 |
1Final dividend paid of 900 cents per share.
2Final dividend paid of 1 200 cents per share.
3Interim dividend paid of 600 cents per share and final dividend paid of 1 200 cents per share.
| Notes | Unaudited six months ended 31 December 2024 Rm |
Unaudited six months ended 31 December 2023 Rm |
Audited year ended 30 June 2024 Rm |
|||||
| CASH FLOW FROM OPERATING ACTIVITIES | ||||||||
| Cash receipts from customers | 6 268 | 6 638 | 13 675 | |||||
| Cash paid to suppliers and employees | (7 366) | (6 189) | (11 904) | |||||
| Cash (utilised)/generated from operations | 17 | (1 098) | 449 | 1 771 | ||||
| Interest received | 388 | 461 | 917 | |||||
| Interest paid | (114) | (41) | (97) | |||||
| Taxation paid | (125) | (302) | (600) | |||||
| (949) | 567 | 1 991 | ||||||
| Dividends received from associate | – | – | 440 | |||||
| Dividends received from joint venture | 6 | 2 500 | 3 000 | 5 000 | ||||
| Dividends received from investments – Harmony | 70 | 56 | 166 | |||||
| 1 621 | 3 623 | 7 597 | ||||||
| Dividend paid to shareholders | (1 765) | (2 353) | (3 529) | |||||
| Net cash (outflow)/inflow from operating activities | (144) | 1 270 | 4 068 | |||||
| CASH FLOW FROM INVESTING ACTIVITIES | ||||||||
| Additional/acquisition of investment in Surge Copper | (3) | – | (53) | |||||
| Additions to property, plant and equipment to maintain operations | (708) | (901) | (1 550) | |||||
| Additions to property, plant and equipment to expand operations | (640) | (2 192) | (4 742) | |||||
| Proceeds on disposal of property, plant and equipment | 3 | 2 | 4 | |||||
| Investment in financial assets | (49) | (634) | (893) | |||||
| Proceeds from financial assets matured | 483 | 689 | 678 | |||||
| Net cash outflow from investing activities | (914) | (3 036) | (6 556) | |||||
| CASH FLOW FROM FINANCING ACTIVITIES | ||||||||
| Cash payments to owners to acquire the entity’s shares | (60) | (78) | (78) | |||||
| Long-term borrowings raised | 1 598 | – | 479 | |||||
| Long-term borrowings repaid | (518) | (33) | (48) | |||||
| Long-term lease liabilities paid | (5) | – | – | |||||
| Short-term borrowings raised | – | – | 456 | |||||
| Short-term lease liabilities paid | (6) | (16) | (6) | |||||
| Short-term borrowings repaid | (71) | – | (8) | |||||
| Net cash inflow/(outflow) from financing activities | 938 | (127) | 795 | |||||
| Net decrease in cash and cash equivalents | (120) | (1 893) | (1 693) | |||||
| Cash and cash equivalents at beginning of period | 8 309 | 10 004 | 10 004 | |||||
| Foreign currency translation on cash balances | – | – | (2) | |||||
| Cash and cash equivalents at end of period | 11 | 8 189 | 8 111 | 8 309 | ||||
| Made up as follows: | ||||||||
| – Available | 6 949 | 7 157 | 7 625 | |||||
| – Cash set aside for specific use | 1 240 | 954 | 684 | |||||
| 8 189 | 8 111 | 8 309 | ||||||
| Overdrafts | 12 | 18 | 17 | 17 | ||||
| Cash and cash equivalents per statement of financial position | 8 207 | 8 128 | 8 326 | |||||
| Cash (utilised)/generated from operations per share (cents) | (560) | 229 | 903 |