BUSINESS DAY TV: ‘You have to learn to deal with exchange-rate volatility’
Theo Loock, Managing Director of Metair, discusses full-year results with Nerina Visser of etfSA BUSINESS DAY TV: Metair has reported full year revenue growth of 16% on the back of strong performances by its energy storage businesses in Turkey and Romania, but a new model launch as well as geopolitical issues weighed on its headline earnings per share (HEPS), which declined by 8%. Metair MD Theo Loock joins us now in the News Leader studio. Still with us as well is Nerina Visser of etfSA. Theo ... so you anticipated a tough year and put mechanisms in place to alleviate pressure where you could. Are you happy with how that’s paid off, because, as I said, revenue up 16% but headline earnings per share still on the decline? THEO LOOCK: Yes, we were exposed to a model change in SA that’s typical of our traditional business. In a seven-to 10-year cycle we’re exposed to a major model change that sees retraction of performance in the automotive components business. That retraction was 28% ...
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