NAMPAK LIMITED - Supplementary information to the trading update released on 27 November 2024
Supplementary information to the trading update released on 27 November 2024
NAMPAK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1968/008070/06)
Ordinary Share Code: NPK
Ordinary share ISIN: ZAE000322095
6.0% Preference Share Code: NPKP ISIN: ZAE000004958
6.5% Preference Share Code: NPP1 ISIN: ZAE000004966
LEI: 3789003820EC27C76729
("Nampak" or "Company")
SUPPLEMENTARY INFORMATION TO THE TRADING UPDATE RELEASED ON 27 NOVEMBER 2024
Further to the trading statement issued on 27 November 2024, several shareholders have requested
additional information ahead of the Nampak results presentation on 2 December 2024 and this update
provides further detail pertaining to the trends in headline earnings for continuing operations.
It should be noted that, in contrast with the once-off gain of R290 million in the first half of the financial
year relating to a restructure in post-retirement medical aid benefits, there were several business events
and some non-recurring costs in the second half of the financial year that have adversely impacted
headline earnings, the most salient of which are (all figures are stated pre-tax):
- the impact of the delay in the commissioning of the Springs Line 2 and the seasonal volume
effect in South Africa Beverage;
- disputed additional water and electricity charges of R37 million levied by utility suppliers;
- cyber recovery and security costs of R29 million;
- retrenchment and restructuring costs of R25 million;
- additional foreign exchange losses in Angola of R38 million; and
- refinancing and associated fees of R112 million;
An additional once-off tax charge of R65 million was recognised in the second half of the financial year.
The underlying performance of the continuing operations remains sound and the outlook remains
consistent with previous guidance provided. Management will provide comprehensive insights into the
full year results during the presentation of the results on Monday, 2 December 2024 including evidence
of ongoing improvements in the group's core metals business.
This announcement is unaudited and not reviewed by the company's external auditors.
Bryanston
28 November 2024
Sponsor:
PSG Capital
Date: 28-11-2024 08:46:00
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