Cement News tagged under: Botswana
PPC reports 21% advance in revenue in 1HFY2421 November 2023, Published under Cement NewsPPC has posted revenue of ZAR6172m (US$335.2m) in the 1HFY24 (ended 30 September 2023), up 20.9 per cent YoY. EBITDA advanced from ZAR728m in the 1HFY23 to ZAR1069m in the same period a year later, while the EBITDA margin advanced three percentage points to 17.3 per cent. Capex over the six-month period came in at ZAR220m. Operating profit improved from ZAR273m to ZAR675m. In the 1HFY24, the South Africa and Botswana business contributed 57 per cent of group revenue (1HFY23: 68 per cent... |
PPC expects drop in South Africa and Botswana sales volumes17 March 2023, Published under Cement NewsSouth Africa-based PPC forecasts a 4-7 per cent drop in sales volumes in its domestic market and Botswana for the 12 months ending 31 March 2023, according to Reuters. To protect and restore its EBITDA margins it plans further cost reduction measures across its portfolio. Capital expenditure for South Africa and Botswana is expected to be in the range of ZAR280m-310m (US$15.25m-16.89m) for the FY22-23. The company expects net debt in the two countries to be between ZAR725m-775m at year-... |
PPC posts 23% drop in EBITDA17 November 2022, Published under Cement NewsPPC Ltd , which is currently finalising its results for the six months ended 30 September 2022, has posted a 23 per cent YoY drop in EBITDA to ZAR728m (US$42.1m) in the six months ended 30 September 2022. Excluding PPC Zimbabwe, EBITDA fell 12 per cent YoY. Net debt continued to improve, coming in at ZAR677m on 30 September 2022, compared to ZAR1009m in March of this year. According to the company, shareholders should expect earnings per share (EPS) for the 2022 six-month period to “diff... |
PPC Group revenues rise 9%16 September 2022, Published under Cement NewsPPC's group revenues, excluding Zimbabwe, for the five months ended August 2022, increased by nine per cent, driven by robust demand in Rwanda but impacted by hyperinflation accounting. Group cement sales volumes (including Zimbabwe) for the period were in line with the previous comparable period as subdued demand in South Africa and the impact of a maintenance-related kiln shutdown in Zimbabwe were offset by robust demand growth in Rwanda. In addition, cash generation remains positive and... |
Cheetah Cement Botswana to reduce country's cement imports19 August 2022, Published under Cement NewsCheetah Cement Botswana (Pty) Ltd, which includes investment from Chinese backers, has promised to play a crucial role in helping Botswana cut its cement imports to zero. Botswana needs 620,000tpa of cement and the southern African country has been heavily relying on imported cement before the Chinese company was set up, Hui Ming, said the company's general manager. "We are earmarking an annual output of 900,000t of cement as of next June," said Hui Ming. Hui said the company is looki... |
PPC not to raise capital and focus on growth29 September 2021, Published under Cement NewsSouth Africa-based PPC has successfully refinanced its debt and is close to finalising its restructuring. Therefore, the company will not require a capital raise, said its CEO, Roland van Wijnen. The new debt facilities of ZAR2.1bn have an extended maturity profile with the long-term facility of ZAR1.5bn being repayable over 3-5 years. The margins were reduced across all facilities to reflect PPC’s improved credit risk profile. “The organisation is now in calmer seas after a hectic 18 mo... |
Matsiloje Portland Cement could reopen by year end20 July 2021, Published under Cement NewsMatsiloje Portland Cement (MPC), one of only two homegrown cement producers in Botswana, is considering a return to production by the end of the year following its closure in 2018. Managing Director, Rachit Josh, told BusinessWeek the company was ‘very optimistic’ it could resume operations and was currently in talks with a reputable investor with a view of entering into a partnership to re-open the plant. "I cannot comment on what the exact situation is regarding the plant, but a... |
Financial restructuring positions PCC for long-term recovery25 June 2021, Published under Cement NewsCompetent management is transforming PPC's prospects for the better. Under CEO Roland van Wijnen, the company has deconsolidated the company's Democratic Republic of Congo (DRC) operations, significantly de-risking the business, and improved its gearing with the sale of its lime business. Together with the tail wind provided by volume recovery in the core South African market, which has enabled the company to meet its interest payments, the JSE-listed cement producer may now be in a ... |
PPC sees group revenue decline 2% YoY16 October 2020, Published under Cement NewsSouth Africa-based PPC has seen its group revenue decline two per cent YoY to ZAR10.241bn (US$618.23m) in the year ending 31 March 2020, compared with ZAR10.494bn in the previous year. Excluding Zimbabwe, revenue fell seven per cent from ZAR9.047bn to ZAR8.380bn, mainly due to a decline in revenues from South Africa cement. Furthermore, the company posted a loss of ZAR2.39bn in the FY19-20 against a ZAR162m profit in the year-ago period. Cost of sales declined three per cent YoY to ZAR8.2... |
Matsiloje Cement MD claims his company was not protected16 April 2019, Published under Cement NewsRacjit Josh, managing director of the closed Matsiloje Portland Cement (MPC) plant, has said that it would be difficult to reopen the plant without government support to restrict cement imports. The Botswana factory, which is owned by Nortex Textiles, closed in January 2018 due to competition from South African imports and 150 people lost their jobs. In June last year, the Ministry of Industry, Trade and Investment said that it was in the process of introducing restrictions on the importa... |