📈 Hayleys PLC Secures Historical S&P 'B+' Rating

Hayleys PLC became the first Sri Lankan corporate to receive a foreign currency issuer credit rating from S&P Global Ratings, securing a 'B+' with a Stable Outlook—standing two notches above Sri Lanka’s 'CCC+' sovereign rating. • Rating & Outlook Highlights: - Rating supported by strong export earnings, limited FX debt, and operational resilience demonstrated during the 2022-2023 debt crisis. - S&P expects FFO-to-debt ratio to stay above 12% with annual EBITDA growth of 10%-12% over the next 2-3 years. - Revenue growth projected at 13%-14% in FY27, backed by real GDP growth forecasts for Sri Lanka (3.7% in 2026). • Geographic & Segment Breakdown: - 50% of Group revenue generated overseas: Asia (25%), US (10%), and Europe (10%). - Core export drivers include hand protection (gloves), purification (activated carbon), textiles, and tea. - Subsidiary Singer (Sri Lanka) PLC drives 20% of Group earnings, holding a 37% market share in local consumer durables. • Expansion & Capital Expenditure: - Annual capex of Rs. 40-50 Bn planned for FY27-FY28, primarily targeting expansion in the purification and hand protection sectors. - Annual dividend payouts projected at Rs. 8-10 Bn over FY27-FY28.