About this report
We are pleased to present our second Integrated Annual Report which sets out Hulamin’s financial and non-financial performance for the year ended 31 December 2012. It covers the business activities of the group’s Hulamin Rolled Products and Hulamin Extrusions operations. The report places these operations in the context of the overall business, our industry and our position in both the local and the global economy. This report also covers Hulamin’s strategy and key performance drivers, opportunities, as well as risks and how we deal with them.
There have been no material changes to the structure of the business during the past 12 months.
The information provided in this report promotes an understanding of Hulamin’s operations and provides an informed assessment of Hulamin’s ability to create and sustain value for our stakeholders, including shareholders, investors, employees, trade unions, regulators, customers, suppliers and service providers, government, communities and civil society.
We have drawn on the guidance provided in the discussion paper “Towards Integrated Reporting” issued by the International Integrated Reporting Committee, demonstrating our ambition for continuous improvement in reporting.
This Integrated Annual Report has been compiled in line with International Financial Reporting Standards (IFRS), the JSE Listings Requirements, the King Report on Governance for South Africa 2009 and the South African Companies Act, No 71 of 2008.
Our external auditors, PricewaterhouseCoopers, have audited the financial statements included in this report. KPMG Services (Pty) Ltd has provided limited assurance on selected sustainability information. Hulamin’s Broad-based Black Economic Empowerment rating is verified by AQRate, an accredited external verification agency.
The Audit Committee had oversight of the preparation of this report and recommended it for board approval, which was obtained on 21 February 2013.