Hulamin Income Statement

Financials in millions ZAR. Fiscal year is January - December.

Millions ZAR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	13,049	12,819	13,796	15,930	13,015
Revenue Growth (YoY)	1.80%	-7.08%	-13.40%	22.40%	52.24%
Cost of Revenue	11,868	11,275	11,912	14,042	11,378
Gross Profit	1,180	1,544	1,884	1,888	1,637
Selling, General & Admin	1,069	1,153	1,382	1,355	1,181
Other Operating Expenses	-10.97	-52.79	-6.42	-4.29	-23.2
Operating Expenses	1,058	1,100	1,375	1,350	1,154
Operating Income	122.17	443.71	508.43	537.8	483.57
Interest Expense	-196.6	-172.31	-160.7	-102.21	-64.83
Interest & Investment Income	1.14	3.18	13.36	10.76	9.36
Earnings From Equity Investments	-	-0.67	-4.05	1.19	-2.26
EBT Excluding Unusual Items	-73.29	273.92	357.04	447.54	425.84
Gain (Loss) on Sale of Assets	-3.47	2.25	-0.74	-7.75	39.51
Asset Writedown	-	-21.22	-	-	-
Other Unusual Items	-	-	-	-	14.93
Pretax Income	-76.75	404.47	380.63	439.79	480.28
Income Tax Expense	-8.95	116.61	108.83	140.08	-110.99
Earnings From Continuing Operations	-67.81	287.87	271.8	299.71	591.26
Earnings From Discontinued Operations	-79.76	-41.52	-	-	-
Net Income	-147.57	246.34	271.8	299.71	591.26
Net Income to Common	-147.57	246.34	271.8	299.71	591.26
Net Income Growth	-	-9.37%	-9.31%	-49.31%	-
Shares Outstanding (Basic)	308	308	308	308	308
Shares Outstanding (Diluted)	308	336	328	328	328
Shares Change (YoY)	-8.05%	2.21%	0.05%	0.16%	6.19%
EPS (Basic)	-0.48	0.80	0.88	0.97	1.92
EPS (Diluted)	-0.48	0.73	0.83	0.91	1.80
EPS Growth	-	-12.50%	-8.79%	-49.44%	-
Free Cash Flow	-291.05	-584.73	110.08	-162.15	96.93
Free Cash Flow Per Share	-0.94	-1.74	0.34	-0.49	0.30
Gross Margin	9.05%	12.04%	13.66%	11.85%	12.58%
Operating Margin	0.94%	3.46%	3.69%	3.38%	3.72%
Profit Margin	-1.13%	1.92%	1.97%	1.88%	4.54%
Free Cash Flow Margin	-2.23%	-4.56%	0.80%	-1.02%	0.74%
EBITDA	257.25	577.54	613.05	617.75	551.7
EBITDA Margin	1.97%	4.50%	4.44%	3.88%	4.24%
D&A For EBITDA	135.08	133.83	104.63	79.95	68.13
EBIT	122.17	443.71	508.43	537.8	483.57
EBIT Margin	0.94%	3.46%	3.69%	3.38%	3.72%
Effective Tax Rate	-	28.83%	28.59%	31.85%	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.