Hulamin turns the corner as R2bn plant investment starts paying off

Pietermaritzburg-based aluminium producer Hulamin says it has “turned the corner” after a difficult second half of 2025, with its core manufacturing operations stabilising and steadily moving towards the upgraded capacity of its plants. In its interim results released on Monday for the six months ended June 30, the JSE-listed company described the first half of 2026 as a “significant operational turning point” as it continued to address production and quality problems that had weighed on its performance. Speaking toThe Witness, Hulamin CEO Mark Gounder said the improved operational stability showed that the company had laid the foundations for a stronger future.

“The performance does not mean we should take the foot off the pedal. Despite the geopolitical factors, there is still a strong global demand. We have the best opportunity to excel, we have the best equipment and technical skills.

However, normalised operating profit declined by 53% to R101.9 million, down from R215.2 million in the first half of 2025, reflecting the effects of external pressures and the ongoing recovery in production volumes. Gounder said most of the operational constraints experienced during the second half of 2025 had been resolved, with its manufacturing streams now ramping up towards the upgraded plant’s design run-rate. Gounder attributed the turnaround partly to the significant investment made in the company’s manufacturing plants.

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“The turnaround is also proof that the R2 billion we invested in our plants is beginning to pay dividends,” he said. The recovery has been supported by a restructuring programme that included management leadership changes and the appointment of specialist manufacturing expertise.

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