About our report

Our integrated report is the main communication avenue to our shareholders and other stakeholders in Nampak Limited who are interested in our commitment to create value and ensure a sustainable business into the future. In this report we provide a balanced and accurate assessment of our financial, economic, social, governance and environmental factors.

We report on the six capitals upon which we rely and that have an impact on our business. We also report on the operational and financial performance of Nampak together with the risks and opportunities that determine our material issues, our strategic response to them as well as our future view.


Scope and boundary

This report covers the period from 1 October 2015 to 30 September 2016. However, we have also included any significant events which occurred after year-end and before the approval date of the report. Most of the content includes all Nampak businesses in all geographies except where specifically noted in the relevant sections.

Nampak reports on its operations by packaging substrate, being metals, glass, paper and plastics and also by geographical region. The report includes all the group’s businesses and associates and all significant items are reported on a comparable basis.

Financial statements and other reports

We have provided summarised financial statements in this integrated report. The full consolidated annual financial statements, full corporate governance report, full remuneration report and a detailed sustainability report are all available on our website or may be requested from our company secretary neill.obrien@nampak.com

Significant changes during the reporting period

The group entered into a sale and leaseback of 15 properties which raised R1.7 billion in gross proceeds with a capital profit of R1.3 billion. The proceeds will be utilised in the reduction of interest-bearing debt and post-retirement medical aid liabilities.

The group incurred R681 million in foreign exchange losses during the year, with operations in Nigeria contributing the majority of the loss.

Asset impairments of R360 million arose during the year primarily related to the conversion to aluminium of a tinplate line in Angola.

Content and material issues

Material issues are defined as those which have the potential to significantly affect our ability to create stakeholder value and sustain the group into the future. They determine the content of this report and are detailed here .

Assurance
Financial information

The financial information in this report has been prepared in accordance with International Financial Reporting Standards (IFRS) and has been independently audited by our external auditors, Deloitte & Touche.

Non-financial information

We considered the following main standards in providing non-financial information:

  • JSE Listings Requirements
  • The Companies Act
  • King III
  • The IIRC’s International Framework
  • The FTSE/JSE Responsible Investment Index Series
  • GRI G4 guidelines and CDP standard

We are pleased to report that following our participation in the FTSE Russell ESG Ratings survey Nampak has been included in the reserve group for potential promotion to the top 30 list of companies.

Approval by the board

The board acknowledges its responsibility for ensuring the integrity of the integrated report and has applied its collective mind in the preparation and presentation of this report. In our opinion the 2016 integrated report is presented in accordance with the framework of the IIRC.

Tito Mboweni
Chairman

André de Ruyter
Chief executive officer


Report feedback

We continually strive to improve our reporting and welcome any comments that will assist us in doing so.
Please contact
lynne.kidd@nampak.com


Forward-looking information

This integrated report contains forward-looking statements that, unless otherwise indicated, reflect the group’s expectations at year-end. Actual results may differ materially from the group’s expectations. The group cannot guarantee that any forward-looking statements will materialise and, accordingly, readers are cautioned not to place undue reliance on this. The group disclaims any intention and assumes no obligation to revise any forward-looking statement, even if new information becomes available, other than as required by the JSE Limited Listings Requirements or any other applicable regulations.

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