30 Jul - 2 min read
Voluntary trading update for the nine months ended 30 June 2021
Voluntary trading update for the nine months ended 30 June 2021 NAMPAK LIMITED Registration number 1968/008070/06 Incorporated in the Republic of South Africa Share Code: NPK ISIN: ZAE000071676 Share Code: NPP1 ISIN: ZAE000004966 Share Code: NPKP ISIN: ZAE000004958 LEI: 3789003820EC27C76729 (“Nampak” or “the Company”) VOLUNTARY TRADING UPDATE FOR THE NINE MONTHS ENDED 30 JUNE 2021 Improved trading conditions in 3Q21 In general, trading conditions improved significantly for the 3Q21 versus the comparative period in 3Q20, when most of Nampak’s businesses were impacted by a combination of hard lockdowns and alcohol bans in many of the geographies where the group operates. Improved trading conditions, successful restructuring and cost savings initiatives have resulted in a 24% increase in revenue and significant improvements in operating results for the nine-month period ended 30 June 2021. Compliance with covenants Nampak has complied with group funding covenants for the measurement period ended 30 June 2021. Net debt : EBITDA at 2.99 times was below the revised 4.50 times limit for the quarter end and EBITDA : interest cover at 4.06 times was greater than the required minimum of 2.25 times. These ratios are also within the original covenant limits of less than or equal to 3.0 times for net debt : EBITDA and greater than or equal to 4.0 times for EBITDA : interest cover. Nampak will update the market on the group’s performance through a voluntary trading update during September 2021, before it goes into a closed period on 1 October 2021. The financial information contained in this announcement is based on unaudited management accounts and has not been reviewed or reported on by the Nampak’s external auditors. By order of the Board I H van Lochem, Company Secretary Bryanston 30 July 2021 Sponsor: UBS South Africa (Pty) Ltd Date: 30-07-2021 01:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.