SENS-AI
HLM Trading Statement Neutral

HULAMIN LIMITED - Further Trading Statement and Performance Review for the year ended 31 December 2025

Hulamin Limited
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What this filing means

Hulamin anticipates a significant swing to a headline loss for FY2025, driven by post-shutdown operational instability, quality defects, and adverse currency movements.

Bull case

  • The announcement provides certainty on the expected losses, resolving the uncertainty that necessitated the prior cautionary announcement.
  • The normalisation of headline earnings adjusts for a R51 million metal price lag gain and R23 million in restructuring costs, providing a clearer view of underlying continuing operations.

Bear case

  • The group is swinging from a prior year HEPS profit of 77 cps to an expected headline loss of 26 to 32 cps.
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Category
Trading Statement
Event posture
Bearish Continuation
Published
Mar 20, 2026

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