Hulamin's 2024 earnings struggle despite aluminium can body demand recovery; new strategies in place for 2025
On Monday, March 17, Hulamin, a South African company specialised in producing rolled and extruded aluminium products, reported bearish annual earnings that ended December 31 2024, alleging operational challenges as a primary cause for constraint.
According to Hulamin CEO Meganathan Gounder, operational challenges and persistent pricing pressure in certain streams, such as export can stock and standards, offset the earnings improvement despite robust demand in the local market, particularly for can body.
He said in a statement, "The 2024 financial year began with promise as market conditions showed significant improvement, particularly in the export segments. Demand recovery brought renewed opportunities, although pricing pressures in certain streams, such as export can stock and standards, persisted. Locally, demand remained robust, with strong momentum for Can Body."
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