Integrated
annual report
2020


Who we are

Tiger Brands is one of Africa’s largest listed manufacturers of fast-moving consumer goods (FMCG). Our core business is manufacturing, marketing and distributing everyday branded food to middle-income consumers. Our portfolio also includes leading brands in the home, personal care and baby sectors.

Our vision

To deliver top-tier financial results and be recognised by all stakeholders as the pre-eminent fast‑moving consumer goods (FMCG) company in South Africa and most desirable growth company on the continent.

Our purpose

We nourish and nurture more lives every day.


Many of our brands hold number 1 or number 2 positions in market share and equity in their respective categories and have celebrated many external awards for being South Africa’s most loved brands

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Equity
Volume share
Value share
#1
#1
#1
#1
#1
#1
#3
#2
#2
#2
#3
#3
#2
#1
#3
#1
#1
#1
#1
#1
#1
#1
#1
#2
#1
#1
#1
#1
#2
#1
#3
#3
#3

Source: Kantar Brand Health Tracker; Nielsen, September 2020.


  Click tabs below to explore our operations

Grains

+ 5% R13,9bn

Revenue

2019: R13,2 billion

- 14% R1,2bn

Operating income

2019: R1,4 billion

Consumer Brands – Food

+ 3% R9,7bn

Revenue

2019: R9,4 billion

- 20% R830m

Operating income

2019: R1,0 billion

Home, Personal Care and Baby (HPCB)

+ 5% R2,8bn

Revenue

2019: R2,7 billion

- 6% R510m

Operating income

2019: R546 million

Exports and International

+ 4% R3,4bn

Revenue

2019: R3,2 billion

- 51% R103m

Operating income

2019: R212 million



We currently export our products to 33 markets in Africa

  • Almost 80% of total export sales from five markets – Mozambique, Zimbabwe, Zambia, Nigeria and Cameroon

* Botswana, Namibia, Lesotho and Swaziland are serviced by the domestic business.


As we approach Tiger Brands’ centenary, amidst the turbulence of an already fragile economy devastated by the impact of Covid-19, the company is facing a critical inflection point. Looking at Tiger Brands’ recent history, we have seen the company set back by a series of failures with little in the way of meaningful successes. Understandably, many of our stakeholders are looking at us with a degree of healthy scepticism, questioning whether the company will be able to effect the long-awaited turnaround and recover from its under-par performance.

CEO's review

This has been a profoundly unsettling year for all of us – as individuals, families, communities and employees. The social and economic disruption caused by the Covid-19 pandemic came on top of an already very fragile economy and social fabric in South Africa, presenting significant further challenges for consumers, retailers and businesses more broadly. Tiger Brands’ performance this year reflects the impact of these challenges and underscores the need for a rapid and radical turnaround to restore the company’s legacy; its response to the pandemic and more positive performance towards the year-end give cause for optimism.

Chairman’s review

Tiger Brands’ earnings for the year ended 30 September 2020 were impacted by the ongoing difficulty of maintaining margins in a tough trading environment compounded by the challenges of Covid-19.

Financial review