DRDGOLD Limited (NYSE: DRD) nearly doubles EPS on higher gold price and cash build

Rhea-AI Filing Summary

DRDGOLD Limited reported a strong trading update for the year ended 30 June 2026. The company expects earnings per share between 481.4 cents and 507.4 cents, up from 260.1 cents, and headline earnings per share between 481.2 cents and 507.2 cents, up from 260.6 cents, an increase of between 85% and 95%.

Group revenue rose 42% to R11,159.0 million, driven mainly by a 40% increase in the Rand gold price received and a 1% increase in gold sold to 4,865kg. Cash operating costs increased 8% to R4,712.5 million, but cash operating costs of R967,544/kg and gold production of 155,577 oz both outperformed guidance. Capital expenditure rose 57% to R3,531.6 million to advance Vision 2028 projects, while cash and cash equivalents increased to R2,770.0 million, with no bank debt and all credit facilities undrawn.

Positive

• EPS and HEPS up 85–95%: Earnings per share are expected between 481.4c and 507.4c and headline earnings per share between 481.2c and 507.2c, compared to around 260c in FY2025, reflecting substantially improved profitability.
• Revenue up 42% to R11.16 billion: Group revenue increased from R7,878.2 million to R11,159.0 million, primarily due to a 40% higher Rand gold price and slightly higher gold sales.
• Production and costs beat guidance: Gold production of 155,577oz exceeded the 140,000–150,000oz guidance range, while cash operating costs of R967,544/kg remained below the approximately R995,000/kg guidance.
• Stronger balance sheet with higher cash and no debt: Cash and cash equivalents rose to R2,770.0 million from R1,306.2 million after funding R3,531.6 million of capex and R779.3 million of dividends, and the Group remains free of bank debt with undrawn credit facilities.

Negative

• None.

Filing Explained

The August 13 update is preliminary; Vision 2028 reached first-project and first-gold milestones, with reviewed statements expected around August 19.

This Form 6-K furnishes material home-market information and reports DRDGOLD’s expected results for the year ended June 30, 2026; the accompanying financial information has not been reviewed or reported on by external auditors.

The next state change is publication of the reviewed condensed consolidated financial statements, which the company expects on or about August 19, 2026.

For operations and capital allocation, the disclosed Vision 2028 program has reached identifiable execution milestones: the Daggafontein tailings facility received its first tailings deposition on July 6, 2026, and the DP2 plant’s new elution circuit and smelt house were commissioned and produced their first gold on July 14, 2026.

The company also reports approval in July 2026 of the Water Use Licence for the Libanon reclamation pump station, which it says paves the way for an anticipated production uplift at FWGR.

Key Figures

Expected EPS range: 481.4–507.4 cents Expected HEPS range: 481.2–507.2 cents Group revenue: R11,159.0 million +5 more

8 metrics

Expected EPS range 481.4–507.4 cents For the year ended 30 June 2026; up from 260.1 cents in FY2025

Expected HEPS range 481.2–507.2 cents For the year ended 30 June 2026; up from 260.6 cents in FY2025

Group revenue R11,159.0 million Year ended 30 June 2026; 42% higher than R7,878.2 million in FY2025

Gold production 155,577 oz Year ended 30 June 2026; exceeded 140,000–150,000 oz guidance range

Cash operating costs per kg R967,544/kg Year ended 30 June 2026; below guidance of approximately R995,000/kg

Capital expenditure R3,531.6 million Year ended 30 June 2026; 57% higher than R2,254.9 million in FY2025

Cash and cash equivalents R2,770.0 million As at 30 June 2026; up from R1,306.2 million at 30 June 2025

Average gold price received R2,289,250 per kg Year ended 30 June 2026; 40% higher than R1,632,275 per kg in FY2025

Key Terms

headline earnings per share, cash operating costs, yield, Tailings Storage Facility, +2 more

6 terms

headline earnings per share financial

"headline earnings per share (“HEPS”) of between 481.2 cents and 507.2 cents"

Headline earnings per share measures the amount of a company’s recurring profit allocated to each share after removing one-off or unusual items and certain accounting adjustments. Think of it as the company’s regular paycheck per share, excluding one-time bonuses, sale gains, or big write-downs, so investors can see the underlying, repeatable earnings trend and compare performance across periods or with other firms.

cash operating costs financial

"Cash operating costs per kg of gold sold increased by 5% to R1,122,767/kg"

Cash operating costs are the actual cash outflows a company spends to run its core operations, excluding accounting items that don’t require cash such as depreciation or amortization. Think of it like a household’s monthly utility, grocery and service bills — the real money you pay each month — which helps investors judge how much cash a business needs to keep running and how much cash is available to pay debts or invest in growth.

yield technical

"driven by a 4% increase in gold yield to 0.185g/t"

Yield is the income an investment generates, expressed as a percentage of the money you put in or the asset’s current price — for example, interest from a bond or dividends from a stock. It matters to investors because it shows how much cash return they can expect relative to cost, much like comparing the annual rent you get from a house to what you paid for it, and helps assess income versus risk and price changes.

Tailings Storage Facility technical

"resumption of tailings deposition on the Daggafontein Tailings Storage Facility"

A tailings storage facility is a managed site—often a lined pond or engineered dam—where mining companies store the wet waste left after extracting minerals. Investors care because these sites carry long-term risks and costs (environmental damage, spills, regulatory fines, cleanup and closure liabilities) that can quickly reduce a mine’s value, halt production or trigger costly remediation, much like a leaking landfill can suddenly force unexpected expenses and legal trouble.

Water Use Licence regulatory

"approval of the long anticipated Water Use Licence for the Libanon reclamation pump station"

revolving credit facility financial

"the Group has a R1 billion revolving credit facility with a R500 million accordion option"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

FAQ

How did DRDGOLD (DRD) earnings per share change in FY2026?

DRDGOLD expects earnings per share of 481.4–507.4 cents for the year ended 30 June 2026, compared to 260.1 cents in FY2025, representing an increase of 85% to 95% driven mainly by higher Rand gold prices.

What were DRDGOLD (DRD) headline earnings per share for FY2026?

Headline earnings per share are expected between 481.2 cents and 507.2 cents for FY2026, up from 260.6 cents in FY2025, an increase of 85% to 95%, reflecting significantly improved financial performance year-on-year.

How much revenue did DRDGOLD (DRD) generate in FY2026?

DRDGOLD’s group revenue increased to R11,159.0 million for the year ended 30 June 2026, up from R7,878.2 million in FY2025, mainly due to a 40% rise in the Rand gold price and a slight increase in gold sold.

Did DRDGOLD (DRD) meet its FY2026 production and cost guidance?

Yes. Gold production of 155,577 ounces exceeded the upper end of the 140,000–150,000oz guidance, and cash operating costs of R967,544/kg remained below the approximate R995,000/kg cost guidance for FY2026.

What is DRDGOLD’s (DRD) liquidity and debt position at 30 June 2026?

At 30 June 2026, DRDGOLD held R2,770.0 million in cash and cash equivalents, remained free of bank debt, and had undrawn facilities including a R1 billion revolving credit facility and a R500 million general bank facility.

How much did DRDGOLD (DRD) invest in capital expenditure in FY2026?

Cash capital expenditure increased to R3,531.6 million in FY2026 from R2,254.9 million in FY2025, primarily to advance core Vision 2028 projects such as Daggafontein and FWGR’s DP2 expansion and associated tailings storage facilities.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 6-K: How Foreign Companies Report to the SEC →

Available on EDGAR 08/13/2026 - 10:20 AM Accepted by SEC EDGAR 08/13/2026 - 10:19 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549
______________________

FORM 6-K

REPORT OF A FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

August 13, 2026

Commission File Number 0-28800

______________________

DRDGOLD Limited

Constantia Office Park

Cnr 14th Avenue and Hendrik Potgieter Road

Cycad House, Building 17, Ground Floor

Weltevreden Park 1709

(Address of principal executive offices)

______________________

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F Form 40-F

Exhibit

99.1    Release dated August 13, 2026 “TRADING STATEMENT AND TRADING UPDATE FOR THE YEAR ENDED 30 JUNE 2026”

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

DRDGOLD LIMITED

Date: August 13, 2026    By: /s/ Henriette Hooijer

        Name: Henriette Hooijer

        Title: Chief Financial Officer

Exhibit 99.1

DRDGOLD LIMITED

(Incorporated in the Republic of South Africa)

(Registration number: 1895/000926/06)

ISIN: ZAE000058723

JSE & A2X share code: DRD

NYSE trading symbol: DRD

(“DRDGOLD” or the “Company” or the “Group”)

 TRADING STATEMENT AND TRADING UPDATE FOR THE YEAR ENDED 30 JUNE 2026

In terms of paragraph 6.26(a) of the JSE Limited Listings Requirements, issuers are required to publish a trading statement as soon as they are reasonably certain, that the financial results for the current reporting period will differ by at least 20% from the financial results of the previous corresponding period.

DRDGOLD is in the process of finalising its financial results for the year ended 30 June 2026 (“Current Reporting Period”) and DRDGOLD shareholders are accordingly advised that the Company is reasonably certain that, for the Current Reporting Period, it will report:

•earnings per share (“EPS”) of between 481.4 cents and 507.4 cents compared to EPS of 260.1 cents for the year ended 30 June 2025 (“Previous Corresponding Period”), being an increase of between 85% and 95%; and

•headline earnings per share (“HEPS”) of between 481.2 cents and 507.2 cents compared to HEPS of 260.6 cents for the Previous Corresponding Period, being an increase of between 85% and 95%.

The expected increase in EPS and HEPS for the Current Reporting Period compared to the Previous Corresponding Period, is primarily due to movements in, inter alia, the following items:

						YEAR ENDED			YEAR ENDED									% change
						30 June 2026			30 June 2025
Production
Gold produced			kg			4,839			4,830									*
			oz			155,577			155,288									*
Gold sold			kg			4,865			4,818									1%
			oz			156,413			154,902									1%
Ore milled			Metric (000't)			25,070			25,613									(2%)
Yield			Metric (g/t)			0.193			0.189									2%
Key financial results summary
Revenue			Rm			11,159.0			7,878.2									42%
			US$m			661.1			434.1									52%
Average gold price received			R per kg			2,289,250			1,632,275									40%
			US$ per oz			4,218			2,797									51%
Cash operating costs1			Rm			4,712.5			4,372.7									8%
			US$m			279.2			240.9									16%
Cash operating costs			R per t			188			171									10%
			US$ per t			11			9									22%
Cash operating costs			R per kg			967,544			903,824									7%
			US$ per oz			1,783			1,549									15%
Capital expenditure			Rm			3,531.6			2,254.9									57%
			US$m			209.2			124.2									68%
Average R/US$ exchange rate						16.88			18.15									(7%)
* Change less than 1%
1 Cash operating costs excludes the movement in gold in process

1.Revenue

Group revenue increased by R3,280.8 million, or 42%, to R11,159.0 million (FY2025: R7,878.2 million), primarily as a result of a 40% increase in the Rand gold price received and a marginal 1% increase in gold sold from 4,818kg to 4,865kg.

Ergo Mining Proprietary Limited’s (“Ergo”) revenue increased by R2,408.5 million, or 42% to R8,080.0 million (FY2025: R5,671.5 million), mainly due to the 40% increase in the Rand gold price received and a 2% increase in gold sold to 3,521kg (FY2025: 3,466kg) driven by a 4% increase in gold yield to 0.185g/t (FY2025: 0.178g/t). Throughput tonnages decreased by 3% from 19.5Mt in the Previous Corresponding Period to 19.0Mt.

Far West Gold Recoveries Proprietary Limited’s (“FWGR”) revenue increased by R872.3 million, or 40% to R3,079.0 million (FY2025: R2,206.7 million), mainly due to the 40% increase in the Rand gold price received, notwithstanding a marginal 1% decrease in gold sold to 1,344kg (FY2025: 1,352kg). Gold yield decreased by 2% from 0.222g/t in the Previous Corresponding Period to 0.218g/t while throughput tonnages remained consistent at 6.1Mt.

2.Cash operating costs

Group cash operating costs increased by 8% to R4,712.4 million (FY2025: R4,372.7 million).

At Ergo, cash operating costs increased by 7%, to R3,968.8 million (FY2025: R3,699.2 million). The increase was primarily driven by higher reagent costs, mainly due to the ongoing sodium cyanide supply constraints in South Africa, increased diesel costs amid the Middle East conflict, and higher trucking costs incurred to transport material from various sites to sustain throughput while awaiting Water Use Licence approvals for certain reclamation sites. These cost increases were partially offset by a reduction in electricity costs, reflecting the incremental benefit of Ergo's solar plant and battery energy storage system (BESS). Cash operating costs per kg of gold sold increased by 5% to R1,122,767/kg (FY2025: R1,064,447/kg) and by 10% per tonne processed to R209/t (FY2025: R190/t).

At FWGR, cash operating costs increased by 10% to R743.6 million (FY2025: R673.5 million) due to higher reagent costs and higher reagent consumption due to the nature of material being processed. The cost of electricity rose by 12% driven mainly by higher tariffs and a marginal increase in power consumption.

3.Operational performance outlook

On 20 August 2025, in its annual results for the year ended 30 June 2025, the Company issued production guidance for the year ended 30 June 2026 of between 140,000 ounces and 150,000 ounces of gold and cash operating costs at approximately R995,000/kg.

Gold production of 155,577 ounces exceeded the upper end of the guidance range by more than 5,500 ounces, reflecting strong operational performances from both Ergo and FWGR. In addition, cash operating costs of R967,544/kg remained below the guidance of approximately R995,000/kg for the year ended 30 June 2026, demonstrating the Group's disciplined cost management and operational efficiency despite inflationary cost pressures.

4.Capital expenditure

Cash capital expenditure increased by R1,276.7 million, or 57%, to R3,531.6 million (FY2025: R2,254.9 million), primarily reflecting expenditure incurred in the execution of the core projects underpinning Vision 2028:

Growth capital expenditure at Ergo increased primarily due to the construction of infrastructure and a dual pipeline to facilitate the resumption of tailings deposition on the Daggafontein Tailings Storage Facility (“TSF”). The Daggafontein TSF received its first tailings deposition on 6 July 2026, marking the completion of the first of the “Big Five” projects forming part of Vision 2028.

Growth capital expenditure at FWGR increased significantly, reflecting the progression of the DP2 plant expansion, the Regional Tailings Storage Facility (RTSF) and associated pipeline infrastructure through peak construction and commissioning phases. The new elution circuit and smelt house at DP2 Plant were commissioned on 14 July 2026, pouring the first gold on the same day. In July 2026, approval of the long anticipated Water Use Licence for the Libanon reclamation pump station was received, paving the way for the anticipated production uplift at FWGR.

The Group continued to advance its Vision 2028 growth programme while maintaining stable operating performance and generating sufficient cash flows to fund all capital expenditure requirements.

5.Liquidity

As at 30 June 2026, DRDGOLD held R2,770.0 million in cash and cash equivalents (FY2025: R1,306.2 million), the increase in cash and cash equivalents was after paying dividends of R779.3 million (FY2025: R431.0 million) and capital expenditure as detailed above.

The Group remains free of any bank debt as at 30 June 2026, (30 June 2025: Rnil). To support liquidity in funding the significant capital expansion programme, the Group has a R1 billion revolving credit facility with a R500 million accordion option and a R500 million general bank facility with Nedbank Limited (acting through its Corporate and Investment Banking division), available if needed. The facilities remained undrawn as at 30 June 2026.

The financial information contained in this announcement is the responsibility of the directors of DRDGOLD, and such information has not been reviewed or reported on by the Company’s external auditors.

The reviewed condensed consolidated financial statements for the year ended 30 June 2026 are expected to be published on SENS on or about Wednesday, 19 August 2026.

Johannesburg

13 August 2026

Sponsor
One Capital