PPC sees 20% YoY rise in revenue

PPC sees 20% YoY rise in revenue
23 November 2021

South Africa’s PPC Ltd has announced a 20 per cent YoY increase in revenue to ZAR5.13bn (US$324.5m) in the first half of the year, ended 30 September, compared with ZAR4.27bn in the year-ago period. The results were supported by a 12 per cent YoY rise in cement volumes. Group EBITDA advanced 13 per cent to ZAR945m from ZAR839m.

Roland van Wijnen, CEO, said: "Team PPC delivered a solid performance, showing results from our efforts to reposition the business and ensure financial sustainability. My gratitude goes to all my colleagues who have worked diligently under stringent health and safety protocols to serve our customers and sustain our purpose of empowering people to experience a better quality of life. Despite some challenging conditions across our markets, we made significant progress on our strategic objectives which underpin this achievement.”

“We are also nearing the completion of our capital restructure without the need for an equity capital raise. Optimising our operational efficiencies to mitigate increasing input cost pressures and reduce our environmental footprint remains a key focus together with further enhancing our financial position," he added.

The group’s South Africa and Botswana segment reported a 12-15 per cent increase in cement sales volumes for the six-month period ending in September. The company implemented price increases that partially offset input cost inflation of 9.2 per cent, with realise selling prices up 4-8 per cent YoY. The company also estimated a 30 per cent YoY rise in cement and clinker imports to the region during the period under review.

Published under Cement News