Nampak delivers strong turnaround as profits surge, debt halved with Angola expansion in sight

Stephen Grootes speaks to Glenn Fullerton, Nampak CFO about its strong annual results, including revenue growth, a near doubling of net profit, and a sharp reduction in debt, as the packaging giant signals confidence in its turnaround and future expansion plans.

Listen to the interview in the audio player below.

Packaging group Nampak has delivered a markedly improved set of financial results, driven largely by aggressive asset disposals, reduced finance costs and a rebound in its Angolan beverage business.

But while headline earnings surged and net debt halved, several core divisions continue to struggle with weak demand, customer losses and structural pressures in the South African market.

The JSE listed company increased its revenue for the financial year ended September 30, by 8% year-on-year, while trading profit increased by 26% and trading margin improved to 12.3% from 10.5% in the 2024 financial year.

Headline earnings jumped 213% to R872-million, reflecting both improved operating performance and the financial effects of the restructuring programme.

Nampak’s largest division, Beverage South Africa grew Ebitda 13% to R907-million, despite suffering production setbacks during the first half of the financial year.

The Beverage Angola division delivered growth, benefiting from a more stable currency and a growing customer base.

The packaging giant' sees continued resilience in the beverage can market in South Africa, which is benefiting from rising demand for convenience packaging and sustainability-led format shifts.

Speaking to Stephen Grootes on The Money Show, Glenn Fullerton, Nampak CFO says it's been a long and arduous journey to make the business profitable.

"Years ago Nampak entered into some foreign markets, most notably Nigeria and Angola, and there have been some headwinds the Group has faced for some time. We've also focused on reducing our operating costs. There's been a laser focus on those operating costs," said Fullerton.

Commenting on it's Beverage South Africa business, Fullerton says the demand from 500ml cans has contributed significant business.

"There's an extraordinary demand for 500ml cans. The energy drink sector is driving that market in a very meaningful way, and part of the flexibility that we're building into our Springs operation is to deal with that market trend,"said Fullerton.

Scroll to the top of the article to listen to the full interview.