Hulamin's 2024 earnings dip amid operational challenges

Hulamin (JSE:HLM) reported its audited consolidated annual financial statements for the year ended 31 December 2024, revealing a mixed performance despite market improvements. The company's normalised EBITDA decreased by 12% to R544 million, while rolled product volumes edged up by 2% year-on-year to 173,167 tons. A fire at the Can End finishing line impacted higher-margin export Can End & Tab sales by 8,000 tons. Revenue saw a slight decrease of 1%, totaling R13.635 billion. The company successfully completed Phases 1 and 2 of its market-driven strategic capital spend related to the wide Can Body investment. Basic earnings per share decreased 9% to 80 cents. The company's 85th Annual General Meeting is scheduled for May 22, 2025. Priorities for 2025 include commercial wide Can Body production, growth in core market segments, scrap utilization, and group investments simplification. No dividend was declared.