HULAMIN: The improved trading results continued into H2

Hulamin has announced its full year results for the year ended 31 December 2022.

Results Headlines

• Turnover increased by 22% to R16bn on group sales volumes of 211 328 tons
• Normalised headline earnings per share up 28% to 105 cents per share
• Local sales up 7% to 94 651 tons with richer product mix
• Normalised EBITDA increased by 339% to R667 million

Geoff Watson, Hulamin Interim Chief Executive Officer said: “The improved trading results experienced in H1 of 2022 continued into H2. The focus in H2 has been to improve the product sales mix and capitalise on the continued structural growth in demand for aluminium beverage cans. This saw local sales volumes increase by 7% to 94 651 tons. Pricing was increased to offset commodity pricing and inflation. This, together with a weaker exchange rate and a stable cost base, saw normalised headline earnings per share increase by 28% to 105 cents per share.

The 2023 year has commenced with solid customer demand particularly in the local and export beverage can markets, stable product margins and a weaker exchange rate. Hulamin is also benefitting from a more stable plant performance. 2023 has accordingly started positively.”