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Trading Statement for the Year Ended 30 September 2020
Nampak Limited
(Incorporated in the Republic of South Africa)
Registration Number: 1968/008070/06
Share Code: NPK
ISIN: ZAE 000071676
(“Nampak” or “the Company” or “the Group”)
TRADING STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2020
Nampak is in the process of finalising its results for the year
ended 30 September 2020 ("the year"). In terms of the JSE Listings
Requirements, shareholders are advised that Nampak is satisfied
that a reasonable degree of certainty exists that the financial
results for the year to be reported upon will differ by more than
20% from 30 September 2019 ("the prior year").
The loss per share for continuing operations for the year has been
impacted by several factors, including:
1. Adverse impact on trading conditions due to the COVID-19
pandemic;
2. Impairments in the value of operations amounting to R4.0 billion,
consisting mainly of an impairment of R2.2 billion relating to
Bevcan Nigeria goodwill and R1.2 billion to an asset impairment
in Angola;
3. Net devaluation losses arising from Angolan and Nigerian exchange
rate movements, together with the net impact of the Zimbabwe
currency devaluation and hyperinflation amounted to R588
million; and
4. Capital and other items resulting from the net loss of R141
million on the disposal of businesses and property, retrenchments
and restructuring costs of R135 million, partially offset by
insurance proceeds of R83 million for asset replacements.
The loss per share for total operations for the year has been
impacted by the above mentioned factors as well as a net profit
from discontinued operations of R369 million primarily from the
disposal of Nampak Plastics Europe, compared to a net loss from
discontinued operations of R1 124 million in the prior year.
HEADLINE LOSS PER SHARE AND LOSS PER SHARE FOR CONTINUING OPERATIONS
- A headline loss per share for continuing operations is expected
to be between 73.6 cents and 80.6 cents per share compared to
headline earnings of 54.1 cents per share in the prior year.
- A loss per share for continuing operations is expected to be
between 571.1 cents and 624.6 cents per share compared to earnings
per share of 42.2 cents in the prior year.
HEADLINE LOSS PER SHARE AND LOSS PER SHARE FOR TOTAL OPERATIONS
- A headline loss per share for total operations is expected to
be between 70.2 cents and 77.0 cents per share compared to a
headline loss of 19.4 cents per share in the prior year.
- A loss per share for total operations is expected to be between
518.9 cents and 570.0 cents per share compared to a loss of 132.1
cents per share in the prior year.
Loss per share / earnings per share includes capital profits,
foreign exchange gain/losses, restructuring costs and goodwill and
asset impairments. Headline loss per share / headline earnings per
share excludes capital profits and impairments but includes foreign
exchange losses.
The information contained in this trading statement has not been
reviewed or reported on by the Company's external auditors.
Nampak expects to release its annual results on Tuesday, 1 December
2020.
Bryanston
26 November 2020
Sponsor: UBS South Africa (Pty) Ltd
Date: 26-11-2020 05:50:00
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