In anticipation of releasing its full-year results for 2022, on March 6, JSE-listed aluminium semi-fabricator Hulamin reports that its earnings a share are expected to decrease by 45% to 53% to between 91c and R1.05.
Headline earnings a share are expected to decrease by 41% to 49% year-on-year to between 93c and R1.07.
However, Hulamin’s normalised earnings a share – which excludes metal price lag (the timing difference between the buying and selling price of metal) which were R426-million (R1.38 a share) in 2021 – are expected to increase by between 20% and 38% to between 16c and 31c.
The company also points out that the raising of a deferred tax asset positively impacted on its 2021 earnings by R115-million (37c a share), thereby making 2021 a higher-than-normal earning period.