How we create value through our business model

We create value for society 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 transform these stocks of capital through our business activities, and in so doing, deliver on our strategy and advance some of the UN's Sustainable Development Goals.

When deciding how best to grow and sustain our business, we carefully consider the trade-offs between the capitals, aiming to maximise positive outputs and outcomes, and limit any negative impacts.

CAPITAL INPUTS
Human capital
Diverse, skilled and high-performing people are key to the delivery of our strategy and operating performance, and their health, safety and development are important to us. Our culture is inclusive, and we are guided by our clearly defined code of conduct and business ethics.
 
Manufactured capital
Our investment in state-of-the-art equipment and in the modernisation of our factories enables us to produce world-class packaging while reducing the impact of our processes on the environment. We also rely on public infrastructure to transport raw materials from suppliers and finished products to customers.
 
Financial capital
Our financial capital is composed of the cash generated by our operations, debt and equity financing and cash from divestments.
 
Intellectual capital
Our R&D facility, which is unmatched in Africa and has operated for more than 70 years, is staffed by highly qualified scientists, engineers and technologists. We use this expertise, as well as licensed technologies and processes, to develop more environmentally friendly packaging and to provide customers with packaging best suited to their products.
 
Social capital
We prioritise our relationships with our employees, trade unions, investors, suppliers, customers, industry, government and society at large as these are imperative for our success. So too are our engagements with the communities in which we operate.
 
Natural capital
We rely on dependable supplies of water, energy, land and air and use increasing amounts of recycled material in our manufacturing processes.
SOUND CORPORATE GOVERNANCE IS A CRITICAL FOUNDATION FOR PROTECTING STAKEHOLDER VALUE AND ACHIEVING THE GROUP'S STRATEGIC OBJECTIVES
     
   

  • VALUE CREATION

    OUTPUTS

    Dependable and innovative packaging products made of metals, plastics, paper and glass

    Greenhouse gas emission intensity (scope 1 and 2)

    19.05 tonnes CO2e per Rm revenue (increased 13%)

  • HOW WE DO
    BUSINESS

    Our business model is informed by our vision, mission and purpose as well as our values and governance. It supports the delivery of our strategy. By considering our operating environment and material issues, we are able to respond to change and adapt timeously.

    VALUE CREATION


OUTCOMES

  • R2.3 billion paid
    in wages and salaries

    LTIFR of 0.34
    (from 0.27)

    One workplace fatality

    Continuous improvement programme to modernise factories, optimise capacity and reduce complexity

    Trading profit of R1.6 billion (from R2.0 billion)

    No dividend paid

  • Reduced the weight of our products further

    One workplace fatality

    B-BBEE level 2 (from level 6)

    R5.4 million spent in social investment (from R7.6 million)

    R1.2 billion paid to governments in taxes

    Energy intensity of 76% (from 97%)