https://newsletter.en.creamermedia.com
Africa|Aluminium|Automotive|Engineering|Hulamin|Products|Operations
Africa|Aluminium|Automotive|Engineering|Hulamin|Products|Operations
africa|aluminium|automotive|engineering|hulamin|products|operations

Hulamin expects Covid-19 to negatively impact on earnings

17th April 2020

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

South Africa’s national lockdown is a significant disruption to JSE-listed Hulamin’s operations and has resulted in a decrease in demand for its products, particularly in the general engineering and automotive sectors.

Consequently, Hulamin expects this to negatively impact on its earnings before interest, taxes, depreciation and amortisation in the first half of this year.

Concurrently, the company on April 17 said the London Metals Exchange price of aluminium and the rand:dollar exchange rate had been “particularly volatile” and Hulamin was, therefore, managing cash flows and costs daily to ensure adequate liquidity.

Hulamin closed 2019 with a strong balance sheet, however, and had borrowings below R300-million and “considerable headroom” in its debt facilities, it assured shareholders.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

 

Showroom

The Southern African Institute of Mining and Metallurgy
The Southern African Institute of Mining and Metallurgy

The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...

VISIT SHOWROOM 
RioCarb
Rio-Carb

Introducing the Rio-Carb Smart Chute Concept - a revolutionary advancement in materials handling, designed for the toughest industries like mining...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 13 December 2024
Magazine round up | 13 December 2024
13th December 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.19 0.289s - 204pq - 2rq
Subscribe Now