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General information

Sector: Basic Materials

The company is not available at Interactive Brokers

Hulamin Limited (JSE:HLM) is an aluminium semi-fabricator business located in South Africa supplying customers across Africa and the world with an extensive range of quality products.

Hulamin purchases primary aluminium and supplies its range of high value, niche rolled products and complex extrusions to manufacturers of finished products in South Africa and over 50 countries around the world.

Hulamin 2019s largest activity is aluminium rolling which contributes more than 80% of its revenue, with the balance comprising extruded products and other downstream products. Although the South African market is an important and growing element of Hulamin 2019s business, a significant portion of rolled products are exported to regions such as Europe, North America, Middle East and Asia.

Hulamin is committed to the growth of the regional Southern African aluminium industry through our rolled and extruded products business units. The group aims to make a meaningful contribution to sustainable development in Southern Africa.

Hulamin is committed to responsible business leadership and good governance, and to making a positive impact on the economy, environment and communities in which it operates.



  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield -27.4% (LTM), projected -27.4%
  • Share price is 69.5% higher than minimum and 38.4% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (2.8x vs
    )
  • The company is overvalued by EV / projected EBITDA multiple compared to target level (5.5x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials

Share price, ZAR:  (0.0%)3.22
Share price, USD: 0.1741
Common stocks: 322 981 366

Dividend Yield:  0.0%
FCF Yield LTM / expected: -27.4% / -27.4%
EV / LTM EBITDA: 2.8x
Last revenue growth (y/y):  -8.2%
Last growth of EBITDA (y/y):  -33.1%
Historical revenue growth:  +29.7%
Historical growth of EBITDA:  +231.9%
EV / expected EBITDA:
Target EV / EBITDA (hist percentile):
EV / LTM EBITDA mutiple calculation
Market Cap ($m): 56
Net Debt ($m): 53
EV (Enterprise Value): 109
EBITDA LTM ($m): 39
EV / LTM EBITDA: 2.8x
Price to Book: 0.30x

Revenue and EBITDA

Semi-Annual values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment ZAR per share

Multiple and potential

EV / EBITDA

Potential dynamics

Production and reserves

Production

More information for subscribed users:
detailed calculation of
Potential and Created Value,
website traffic data

Releases

2022-08-04
Changes to the Board
2022-06-06
Withdrawal of cautionary announcement
2022-06-03
Availability of broad-based black economic empowerment annual compliance report
2022-05-26
Results of the Annual General Meeting
2022-05-25
Chairman’s Statement at the Annual General Meeting of Shareholders
2022-05-23
Renewal of Cautionary Announcement
2022-04-25
No Change Statement and Notice of Annual General Meeting
2022-04-14
Impact of KZN floods on Hulamin operations
2022-04-05
Renewal of Cautionary Announcement
2022-03-28
Summarised Preliminary Consolidated Results for the year ended 31 December 2021- Short Form Announcement
2022-03-14
Business Review and Trading Statement for the year ended 31 December 2021
2022-02-21
Renewal of Cautionary Announcement
2022-01-10
Renewal of cautionary announcement
2021-12-14
Trading Statement for the year ended 31 December 2021
2021-11-25
Renewal of cautionary announcement
2021-10-14
Cautionary Announcement
2021-09-07
Acceptance of awards by directors, the company secretary and directors of major subsidiaries
2021-09-06
Further announcement in respect of vesting of shares to directors

SENS Announcements

2024-04-25
Publication of Integrated Annual Report and Notice of Annual General Meeting
2024-04-23
Acceptance of awards by directors of Hulamin and major subsidiaries
2024-04-10
Availability of Broad-Based Black Economic Empowerment Annual Compliance Report
2024-03-04
Short-Form Announcement: Audited Consolidated Results for the year ended 31 December 2023
2023-10-23
Investor day and availability of presentation
2023-10-10
Changes to the Board
2023-08-11
Change in Company Secretary
2023-08-08
Trading Statement for the Six Month Period Ended 30 June 2023
2023-07-21
NUMSA members strike resolution
2023-07-12
NUMSA members embark on strike
2023-05-26
Results of the Annual General Meeting
2023-04-13
Availability of Broad-Based Black Economic Empowerment Annual Compliance Report
2023-04-06
No Change Statement and Notice of Annual General Meeting
2023-04-04
Acceptance of awards by directors of Hulamin and major subsidiaries
2023-03-06
Summarised Preliminary Consolidated Results for the year ended 31 December 2022 - Short Form Announcement
2023-02-27
Trading statement for the year ended 31 December 2022
2022-12-28
Dealing in Securities by an Associate of a Director
2022-12-19
Dealing in Securities by an Associate of a Director
2022-12-19
Acceptance of Awards by Directors and Directors of Major Subsidiaries - Equity Settled Conditional Share Plan
2022-12-15
Dealings in securities by an associate of a director
2022-12-09
Dealings in securities by an associate of a director
2022-09-30
Change in Company Secretary
2022-09-16
Dealings in securities by a prescribed officer and director of a major subsidiary
2022-08-29
Unaudited consolidated results for the six months ended 30 June 2022
2022-08-25
Trading statement for the six months ended 30 June 2022
2022-08-04
Changes to the Board
2022-06-06
Withdrawal of cautionary announcement
2022-06-03
Availability of broad-based black economic empowerment annual compliance report
2022-05-26
Results of the Annual General Meeting
2022-05-25
Chairman’s Statement at the Annual General Meeting of Shareholders
2022-05-23
Renewal of Cautionary Announcement