Aluminium products and solutions group Hulamin undertook an extended integrated plant shutdown during the 2025 financial year which impacted its profits
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JSE-listed aluminium products and solutions group Hulamin’s share price fell on Friday morning after it warned of substantial losses arising from a plant shutdown last year, operational difficulties, and foreign exchange-related losses.
The Pietermaritzburg group warned that its normalised headline loss for the year to December 31, 2025, is expected to be between 25 cents per share and 31 cents per share, compared with a 55 cents per share profit at the same time last year. The annual results are expected to be published on March 23.
The share price fell precipitously by over 11% at one stage on Friday morning on the JSE, but was last seen trading 2.16% lower at R1.80, which is broadly in line with the R2.16 that it traded at last year.
Hulamin’s directors said on Friday they had undertaken an extended integrated plant shutdown during the 2025 financial year, which included the execution of a market-driven wide can body expansion project.
Following the shutdown, the business experienced operational challenges associated with stabilising mill performance.
These issues had adversely affected rolled products volumes and resulted in losses due to quality defects.
The strengthening of the rand against the US dollar during the period further impacted financial performance.
The loss per share for the period was expected to be between 43 cents a share and 53 cents a share, compared with 93 cents per share previously.
Normalised headline earnings per share from continuing operations excludes non-trading and once-off restructuring costs relating to the closure of Hulamin Containers and restructuring initiatives at Hulamin Operations of R23 million and metal price lag gains of R51m.
Continuing operations consist of the Rolled Products business unit, as Extrusions has been classified as a discontinued operation.
The group advised shareholders last week that it was in negotiations regarding the disposal of Hulamin Extrusions, which, if successfully concluded, may have a material effect on the price of the group. Hulamin Extrusions was founded 40 years ago by Alcan and has plants in Olifantfontein, Gauteng, and Pietermaritzburg.
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