Hulamin Update for the year ending 31 December 2025
Pietermaritzburg: Hulamin undertook a lengthy integrated plant shut during the year ending 31 December 2025. This included the market-driven wide can body expansion project. The performance of the business has been adversely impacted by operational challenges experienced in stabilising mill performance post the integrated plant shut.
Management have implemented a defined remediation roadmap to address the operational and quality challenges identified, with resolution expected by early 2026. The identified actions and critical roadmap milestones have yielded positive results as of the date of this announcement with plant output having stabilised and product quality deviations back under control.
As a consequence of these operational challenges earnings for the financial year ending 31 December 2025 are expected to be lower by at least 20% when compared to the year ended 31 December 2024 (“Comparable Period”). Based on the above and in terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, Hulamin expects results for the year ending 31 December 2025 to be as follows:
- Earnings per share will decrease by at least 20% to no more than 64 cents per share compared to 80 cents per share in the Comparable Period; and
- Headline earnings per share will decrease by at least 20% to no more than 51 cents per share compared to 64 cents per share in the Comparable Period.
The Group remains compliant with all banking covenants and has not requested any covenant relaxation from its funders.
The Group will provide stakeholders with detailed guidance once there is reasonable certainty over the full impact of the above-mentioned challenges to the Group financial performance.
The financial information contained in this trading statement is the responsibility of the directors and has not been reviewed nor reported on by the Company’s external auditors.
