HULAMIN LIMITED - Voluntary trading statement for the year ended 31 December 2017

Voluntary trading statement for the year ended 31 December 2017

Hulamin Limited
(Incorporated in the Republic of South Africa)
(Registration number 1940/013924/06)
Share code: HLM
ISIN: ZAE000096210
("Hulamin" or "the Company")

VOLUNTARY TRADING STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2017

Despite achieving a record sales volume of 233 000 tons, Hulamin’s operating profit for the 2017
financial year is expected to be below that of the prior year, mainly impacted by the significantly
stronger Rand that averaged R13.32/US Dollar in 2017 (2016: R14.73).

The strengthening of the currency had a negative effect on profits, amounting to approximately
R300 million (headline earnings per share (“HEPS”) impact of 68 cents per share) for the year
under review, as conversion prices of Hulamin’s rolled products are principally foreign
denominated.

However, an improving US Dollar aluminium price resulted in a positive metal price lag impact
on Hulamin’s profits of approximately R150 million, an increase of R100 million (HEPS impact of
23 cents per share) over the gain in the prior year.

This metal price lag gain, together with the Company’s strong manufacturing and sales
performance and the increased focus on cost reduction, provided a buffer against the negative
impact of the currency.

Hulamin expects earnings per share (“EPS”), HEPS and normalised EPS for the year ended
31 December 2017 to be within the ranges shown below:

                          31 December 2017                   31 December 2016
                          Expectation (cents) and            Reported (cents)
                          percentage change

EPS                       100 (-17%) – 112 (-7%)             120
HEPS                      100 (-16%) – 112 (-6%)             119
Normalised EPS            100 (-16%) – 112 (-6%)             119


The financial information on which this voluntary trading statement is based has not been
reviewed or reported on by the Company’s external auditors.

Hulamin’s results for the year ended 31 December 2017 are expected to be released on the
Stock Exchange News Service on or about 26 February 2018.


Pietermaritzburg
6 February 2018


Sponsor
Questco Corporate Advisory Proprietary Limited

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