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HULAMIN LIMITED - Update on the Release of the Financial Results for the year ended 31 December 2019 and Trading Statement

Release Date: 19/06/2020 10:46
Code(s): HLM     PDF:  
Wrap Text
Update on the Release of the Financial Results for the year ended 31 December 2019 and Trading Statement

HULAMIN LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1940/013924/06
JSE Code: HLM
ISIN: ZAE000096210
(“Hulamin” or “the Company”)

UPDATE ON THE RELEASE OF THE FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2019
AND TRADING STATEMENT

Shareholders are referred to the trading statement issued on 20 March 2020 (“the Trading
Statement”) wherein they were advised of the delay in the finalisation of the financial results for the
year ended 31 December 2019 (“the Financial Results”). Further to the publication of the Trading
Statement, shareholders are advised that the Company is in the process of finalising the Financial
Results, which it expects to release on or about 26 June 2020.

TRADING STATEMENT
In the Trading Statement issued on 20 March 2020, Hulamin advised that its basic earnings per share
(“EPS”) for the year ended 31 December 2019 would be a loss of at least 315 cents per share and its
basic headline earnings per share (“HEPS”) would be a loss of at least 17 cents per share, and that a
further trading statement would be issued once there was greater certainty on the range of the
financial results that would be reported.

Shareholders are now advised that the Financial Results are expected to reflect:

    -   a basic loss per share of between 370 and 388 cents, as compared to the loss per share
        reported for the previous corresponding period of 242 cents, representing an increased loss
        of between 52.9% and 60.3%;
    -   a headline loss per share of between 70 and 80 cents, as compared to the headline earnings
        per share reported for the previous corresponding period of 91 cents, representing a decrease
        of between 176.9% and 187.9%; and
    -   a normalised headline loss per share(1) of between 4 and 11 cents per share, as compared to
        the normalised headline earnings per share reported for the previous corresponding period
        of 77 cents, representing a decrease of between 105.2% and 114.3%.

(1) Normalised headline earnings/loss per share is one of the measurement bases which the Hulamin
Executive Committee uses in assessing financial performance and is calculated in a consistent manner
as per the latest annual financial statements, by dividing normalised headline earnings/loss by the
weighted average number of ordinary shares in issue during the year.
Normalised headline earnings is defined as headline earnings excluding (i) metal price lag and (ii)
material non-trading expense or income items which, due to their irregular occurrence, are adjusted
for in order to better present earnings attributable to the ongoing activities of the Group.

The presentation of normalised headline earnings is not an IFRS requirement and may not be directly
comparable with the same or similar measures disclosed by other companies.

The financial information contained in this trading statement is the responsibility of the directors and
has not been reviewed or reported on by the Company’s external auditors.


Pietermaritzburg
19 June 2020

Sponsor
Questco Corporate Advisory Proprietary Limited

Date: 19-06-2020 10:46:00
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