Hayleys Group accounts for 5% of Sri Lanka’s total export income
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Converting coconut shells into charcoal.
Hayleys PLC, Sri Lanka’s largest public-listed diversified conglomerate, which accounts for 5 per cent of the country’s total export income, has reported an economic value creation of Rs. 150 billion, parallel to delivering progress on its sustainability targets over the last financial year (FY2023-24).
During the period in review, Hayleys earned US$591 million foreign exchange income and as a net exporter, 54 per cent of group revenue was generated from exports, it said in a media release.
The group distributed Rs. 138.6 billion in cumulative economic value towards all stakeholders, including supplier development, government taxes, employee payments, lenders of capital and to shareholders – a 6.7 per cent YoY increase.
“The evolution of the Hayleys Group has been characterised by a singular commitment to drive value addition and excellence across all spheres of its operations. Across its business lines, organic and inorganic growth has always centred on enhancing value through offering innovative and sophisticated solutions catering to increasingly complex customer needs. Today, our intrinsic link to every facet of the country’s economy and our deep connections to international supply chains have allowed Hayleys to showcase the best Sri Lanka has to offer in the global arena,” Hayleys PLC Chairman and Chief Executive, Mohan Pandithage said.
“We are proud of the progress being made to foster sustainable innovation and value-added export development. Leveraging inclusive business models, and a sincere commitment to driving circularity, we hope to build a more resilient future for all,” he added.
As one of Sri Lanka’s largest employers, Hayleys supports the livelihoods of thousands of families, prioritising the critical role it plays in the well-being and development of its employees and value chain partners. Total jobs across the group’s global network increased to 36,266 employees. Payments to employees rose to Rs. 53 billion, reflecting the group’s enduring commitment to its workforce as it navigated the economic downturn. Employee development was also a priority, with Rs. 183 million invested in 369,589 hours of training.
Hayleys supports over 23,000 livelihoods through opportunities for indirect employment across its value chains. Through inclusive business models, the group links grassroot enterprises, smallholders, and farmers to global value chains through outgrower models. Similar models were applied to the cultivation of gherkin, jackfruit, and tropical fruits, as well as eco-friendly coconut shell charcoal for value-added activated carbon products.
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