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- Engaged workforce
- Constructive relationship with government
- Investor confidence
- Trusted brands and strong consumer
reputation
- Positive supplier and customer relations
- Robust operating context and strong levels
of institutional trust
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- Strong and diverse board
- Experienced executive team
- 9 670 permanent employees
- Enabling workplace environment with
performance- and purpose-led culture
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- Historically strong brand and reputation
- Unique product formulations and trusted recipes
- Research and development capacity
- Internal governance and business systems
- Company culture
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- 41 manufacturing facilities
- Efficient logistics and distribution activities
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- Equity
- Borrowings
- Cash generated from operations
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- Local and imported raw material ingredients
- Water (municipal and own borehole) for
production
- Fuel (diesel and petrol) for distribution and
manufacturing
- Energy for manufacturing (primarily Eskom
electricity)
- Fertile soil and conducive agricultural conditions
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- Investment in employee value proposition
- Structured engagement with regulators; focus on
compliance and societal contributions
- Regular investor communication
- Investment in product safety and quality
- Product and process innovation
- Active engagement with suppliers and customers
- Trading terms that are fair, equal and available
to all customers
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- Implementing people strategy to build a diverse
talent base, develop leadership capacity and create
a great place to work
- Invested in employee reward and personal
development opportunities
- R4,3 billion on wages and benefits
- R97 million invested in employee training and
development (2021: R94 million)
- Focus on diversity and employment equity
- Embedded enhanced employee wellbeing
programme (THRIVE)
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- Focus on innovation and renovation to meet
consumer needs including on value, health and
nutrition, convenience, e-commerce and
sustainability
- Deploy marketing best practice toolkit across
the business
- Drive relevance in value segment by building clear
benefits of current brands
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- R961 million capital expenditure in manufacturing
and distribution capability and technology
- Completed the development and approval of
a comprehensive digital strategy
- 9% improvement in overall equipment
effectiveness (OEE) across our focus sites over
past three years
- Achieved R354 million in savings through
improved material usage variance (MUV) over past three years
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- Implementation of fit-for-future operating model
with clear lines of accountability
- Continued operational efficiency drive
- Strong corporate governance structures
- Acceleration of portfolio optimisation
- Clear guiding principles in response to the
growth of private label
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- Energy and water efficiency measures
- Investment in renewable energy to strengthen energy security and reduce carbon footprint
- Innovations and partnerships to reduce packaging and food waste
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Generally positive relations across
stakeholder groups
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14% reduction in consumer complaints |
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R14 billion B-BBEE supplier spend |
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R1,3 billion spent to support black farmers and
small businesses |
Continuing concerns in certain areas
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Product recall of certain baby powder products |
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Pending listeria Class Action lawsuit |
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Investment in talent and personal development
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Accelerated core capability in manufacturing,
customer, marketing and R&D |
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Launched accelerated leadership development
programme |
Progress in promoting employee diversity
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94% ACI and 31% female |
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Eliminated historical wage and salary income
differentials ahead of target |
Board diversity
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67% black and 60% female on our board |
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Directors with extensive FMCG knowledge,
global experience and skills in digitalisation
and innovation |
Focus on improved employee health and
safety going forward
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Three work-related fatalities (2021: 0) |
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0,45 lost-time injury frequency rate (2021: 0,31)
driven by improved reporting to consistently
include contractor injuries |
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Sustained a strong brand presence
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Completed purpose journeys on majority of our
major brands with evident impact |
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Won Kantar award for Best Liked Ad in 2021
(Tastic Rice) |
Innovation launches
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Completing 21 innovation projects across our
consumer growth areas, achieving a R1,1 billion
(4,2%) innovation rate |
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First Venture Capital Fund investment –
in plant-based vegan start-up |
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Continued investment in plant and
equipment
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Expand capacity, optimise efficiency, upgrade
infrastructure and realise innovation
opportunities |
Some challenges remain
| × |
Capex disbursement below guidance |
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27,7% return on net assets (RONA)
(2021: 19,3%) |
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R75 million paid in net interest
(2021: R54 million) |
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R2,6 billion cash generated from operations
(2021: R4,0 billion) |
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Savings of R387 million (2021: R498 million) |
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Total dividend per share declared: 973 cents
(2021: 826 cents) |
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18,4% return on equity (2021: 12,7%) |
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ROIC of 16,4% exceeds the average weighted
cost of capital of 13,6% (2021: 11,7%<12,2%) |
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Some progress in mitigating impacts
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13% reduction in direct GHG emissions |
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13% reduction in GHG emissions intensity |
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7% reduction in absolute energy use |
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8% reduction in electrical energy intensity |
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8% reduction in absolute water use |
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7% reduction in water-use intensity |
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32% reduction in waste to landfill intensity |
Challenges remain in certain areas
| × |
The global food system is recognised as having
a significant impact on biodiversity and habitat
loss, climate change and packaging pollution,
placing direct pressure on the resources we
depend on and, increasing consumer and
regulatory practices |
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