Hulamin half-year profits up 144%

Listed aluminium supplier, Hulamin, reported a jump in half-year headline earnings per share of almost 150 per cent on the back of spiking metal prices and increased demand. The company's success has been attributed to its high-quality plate products that are well-suited for high tolerance machining, particularly in the electric vehicle (EV) industry. Hulamin has been supplying these products to Tesla and other EV manufacturers in the United States, positioning itself as a key player in the transition towards sustainable transportation. In a recent interview on CNBC Africa, outgoing CEO Richard Jacob and interim CEO Geoff Watson shed light on the company's future prospects and the opportunities presented by the growing demand for EVs. Jacob highlighted Hulamin's strong partnership with Tesla and its role in providing essential components for electric vehicles. He emphasized the importance of developing innovative products that meet the evolving needs of the automotive industry, particularly in terms of tolerance and stability. Watson, who will be taking over as chairperson, discussed Hulamin's focus on expanding its product portfolio to cater to the increasing demand for aluminium in the automotive sector. While the current chip shortage has affected the industry, Watson remains optimistic about the long-term growth potential in the automotive market. One of the key areas of opportunity for Hulamin lies in the production of battery boxes for electric vehicles. The company's high-quality plate products have been integral to the manufacturing of Tesla vehicles, showcasing the potential for further collaboration with EV manufacturers. By investing in technology and product development, Hulamin aims to position itself as a leading supplier of aluminium products for the automotive industry. Richard Jacob, who has been with the company for 32 years, expressed his optimism about the future and his plans to contribute to the industry after stepping down as CEO. Despite his retirement, Jacob remains committed to sharing his knowledge and experience with the next generation of leaders in the industry. As Hulamin continues to innovate and expand its presence in the EV market, the company is poised to capitalize on the growing demand for sustainable transportation solutions. By leveraging its expertise in high-quality aluminium products, Hulamin is well-positioned to play a key role in driving the transition towards electric vehicles and supporting the global shift towards a more sustainable future.