How we create value using the six capitals

We create value by converting raw materials into packaging products used to protect, preserve and transport consumer products. To do this, we rely on various relationships and resources, which we refer to as the six capitals.

We need inputs of each to deliver on our strategy and generate value for all stakeholders. We carefully consider the trade-offs between the capitals, aiming to maximise positive outputs and outcomes, and limit any negative impacts.


Human capital

The health, skills, safety. initiative and diversity of our people, suppliers and partners

Manufactured capital

Our production and research facilities; cullet, tinplate, aluminium, plastic and paper; public infrastructure

Financial capital

Equity and debt financing as well as cash generated from operations and investments

Intellectual capital

Our experience; proprietary and licensed technology; innovation; operational, marketing and procurement excellence initiatives

Social capital

Communities; customers;
suppliers; trade unions; industry
bodies; governments; our brand
and reputation, regulatory

Nature capital

Water, land, air, limestone, sand and soda ash

Our business model

Informed by our vision, mission, values and governance, this supports delivery of our strategy and is our approach to people, processes and product:


  • Attract, develop and retain engaged employees
  • Develop and manage stakeholder relationships
  • Ensure accountability
  • Deliver an empowered company


  • Maintain a safe workplace
  • Secure our advantage by buying, making and selling better
  • Manufacture to the best quality and environmental standards
  • Continuously improve our performance


  • Provide reliable, fit-for-purpose products
  • Ensure consistent quality
  • Support initiatives to reduce, reuse, recycle
  • Invest in innovation through research and development

By considering our operating environment and our material issues, we ensure that we are responsive to changes and are able to adapt.

Dependable packaging products made of metals, glass, plastics and paper
gas emissions
28.67 tonnes CO2e per Rm revenue
down 8%

6 678 employees

R3.1 billion

paid in wages and salaries employees


 level 3*



Trading profit of

R1.9 billion 4%

R1.7 billion

raised from property sale and leaseback

Reduced gearing from

72% to 49%

1.4 billion

in capital expenditure

Asset impairments of

R360 million

predominantly Angolan tinplate line

R41.6 million

spent on R&D

R8.5 million

social investment in South Africa


of cullet used in glass manufacturing process

*Currently under evaluation