The Business Overview
- The world of aluminium
- Hulamin and global aluminium markets
- The role of aluminium and Hulamin in South Africa
- External environment, opportunities and threats
- Strategic objectives
- Isizinda Aluminium unlocking opportunities
- Key resources Hulamin relies on
- The business model
- How we add value to aluminium
- Products and applications of aluminium
Reliance and Impact on Key Capitals
Governance and Leadership
Statutory approvals and reports
Group financial statements
Company financial statements
ABOUT THIS REPORT
2014 represents Hulamin’s 74th anniversary of unlocking sustainable value through aluminium beneficiation.
This integrated report provides a comprehensive review of how Hulamin creates sustainable value. It provides insight into the group’s business model, changes in the external environment and the risks and opportunities that arise therefrom. The report details the strategic response of the group to these material issues and the group’s governance structures which support the delivery of its strategic objectives. The report provides stakeholders with a greater understanding of the reliance of the group’s business model on financial, manufactured, intellectual, human, social and natural capitals. It also sets out the financial and non-financial performance of the group and the impact of the group’s operations on these capitals and provides insight into the prospects and future outlook for the group.
The scope of this report includes Hulamin Limited and its subsidiaries, listed here. The report covers the financial reporting period 1 January 2014 to 31 December 2014.
In compiling this integrated report, the following frameworks have been considered:
- International Integrated Reporting Framework, December 2013
- King Report on Corporate Governance (King III)
- JSE Limited Listings Requirements
- Companies Act 71 of 2008 (as amended) and the Companies Regulations
- International Financial Reporting Standards
The Audit Committee provides an oversight role to this integrated report. The committee has reviewed the completeness and accuracy of this report and is satisfied that the report is an accurate reflection of the group’s integrated performance..
Certain elements of this report have been independently assured. This assurance forms part of a combined assurance approach adopted by the group.
MATERIALITY AND COMPARABILITY
Materiality has been applied to qualitative and quantitative disclosures and content of this report. An item is considered material if it could influence the decisions of the group and its stakeholders.
There have been no significant changes to the content and scope of this report from prior years. In attempts to enhance the comparability of information, certain comparative figures may have been restated and these have been noted as such.
FORWARD LOOKING INFORMATION
The report contains some forward looking information regarding the financial and non-financial performance and position of the group. Hulamin believes this forward looking information to be realistic at the time of the issue of the report. These statements include uncertainties, assumptions and risks about future events and circumstances, which may result in actual results differing from those anticipated. Forward looking information has not been independently reviewed by the external auditors.
The board acknowledges its responsibility for ensuring the integrity of the integrated annual report and to the best of its knowledge and belief the integrated annual report for 2014 addresses all material issues and presents fairly the integrated performance of the organisation and its impacts. The report has been prepared in line with best practice and the board confirms that it has approved the release of the 2014 integrated annual report.
FEEDBACK FROM OUR STAKEHOLDERS
Hulamin is committed to building stronger stakeholder relationships, which are enhanced through various communications. Stakeholders are encouraged to provide feedback on this integrated report and the type of information you would like to see in future reports to Noma.Kanyile@hulamin.co.za, which will enable the group to gauge the accuracy and standard of its integrated reporting.
19 February 2015
CFO and acting CEO
|Annual financial statements||PricewaterhouseCoopers Inc|
|Review of internal controls||Ernst & Young Advisory Services (Pty) Ltd|
|BEE contributor level||AQRate Verification Services|
|Sustainability report (selected information)||KPMG Services (Pty) Ltd|