Cement News tagged under: PPC

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Zimbabwe sees demand up in July

31 August 2020, Published under Cement News

PPC says demand for cement in Zimbabwe is very strong, despite effects of the COVID-19 pandemic lockdown. In its latest operational update, the regional cement producer reported that its operations ramped up in May in all regional operations, including Zimbabwe. “The total cement volumes sold by the international subsidiaries also showed double-digit growth comparing July 2020 with July 2019. The demand is especially strong in Zimbabwe and Rwanda and the growth of sales volumes during Ju...

PPC and subsidiaries record double-digit growth in July

20 August 2020, Published under Cement News

PPC reports that its total volumes at its international subsidiaries saw double-digit growth in July compared to sales in July 2019. "The demand is especially strong in Zimbabwe and Rwanda and the growth of sales volumes during July has been positive in the DRC as well," PPC said. "The increased sales volumes and the effect of the cost reduction and cash preservation measures have resulted in cash flows for the last months showing a positive trajectory." Double-digit YoY growth of cement...

PPC considers restructuring and refinancing options

14 August 2020, Published under Cement News

Following reports that South Africa’s PPC was looking to raise ZAR1.25bn (US$71.51m) from a rights issue, the company has stated that it is currently in talks with lenders before taking any action. It also noted that its requirement to restructure and refinance the group was primarily a result of its investment in PPC Barnet (Democratic Republic of Congo), according to Business Day. While the company was considering a rights issue, the timing and size of it is dependent on several factors...

South African cement sector is operating in survival mode

13 July 2020, Published under Cement News

Bheki Mthembu, head of the inland business unit of PPC, says the lack of large-scale construction projects in South Africa has left cement producers heavily dependent on residential construction. "The sector has had issues for a while and government needs to support us through infrastructure maintenance and other projects. We were in survival mode and COVID-19 almost served as the final nail in the coffin," said Bheki Mthembu. "There is a very small piece of cake that everyone ...

PIC reduces shareholding in PPC

12 June 2020, Published under Cement News

PPC's largest shareholder, Public Investment Corp (PIC) has reduced its shareholding in the South African cement producer from 25 to 19.92 per cent. "The PIC’s disposal of shares in PPC on 28 May 2020 is part of rebalancing its listed investment portfolio in the ordinary course of the PIC’s business," said Deon Botha, the head of corporate affairs at the asset manager. PPC is in the process of finalising its results for the year-ended 31 March 2020. Due to the restrictions placed on the gr...

PPC announces operational update for April

04 May 2020, Published under Cement News

PPC has released an update for its African operations during April. PPC Barnet in the DRC has been able to continue to operate and is expected to produce similar volumes compared to the same period last year. Cimerwa and PPC Zimbabwe have also partially resumed operations in Rwanda and Zimbabwe, respectively, in the second half of April. Cement sales volumes in these countries are expected to be around 15-20 per cent of the volumes sold in April 2019. Overall sales volumes in South Africa ...

PPC Zimbabwe reports 15-20% volume drop

23 March 2020, Published under Cement News

PPC Zimbabwe has reported a fall of 15-20 per cent in volumes for the 11 months ended February 2020 due to the country’s economic environment, reports the Zimbabwe Mail. However, the company has recorded improved EBITDA margins of 35-38 per cent. Inflationary pressures in the country have increased the cost of inputs as well as decreasing consumer spending. Limited access to foreign currency has also added to the challenges. “Despite the challenging trading conditions in Zimbabwe, includ...

PPC sees volumes improve and price rises stick

19 March 2020, Published under Cement News

Cement-maker PPC said lower levels of capital expenditure has helped offset lower earnings during the 11 months to end-February, with its southern African business starting to show signs of stabilisation even as it continues to face price pressures from increasing exports. The South African coastal business is experiencing a downturn in volumes affected by imports, while inland volumes are showing signs of improvement, the group said in a trading update. It has experienced average price inc...

PPC joins the WCA as a Corporate Member

18 December 2019, Published under Cement News

The World Cement Association (WCA) has welcomed PPC as a corporate member. Speaking about PPC's desire to join the WCA, Roland van Wijnen, CEO of PPC said:  "We expect that WCA will help us to leverage and expand our existing expertise to achieve best practice in cement operations for the benefit of our customers and to further improve our environmental performance. "Through WCA, we are also looking to connect with the worldwide cement industry and stay up to date with the latest devel...

PPC's group revenue impacted by Zimbabwe

21 November 2019, Published under Cement News

PPC announced a group revenue of ZAR4.9bn (US$330.1m) and group EBITDA of ZAR868m for the six months ended 30 September 2019. Group revenue was down 12 per cent on results from the six-month period at ZAR5.6bn, which was attributed to a 17 per cent volume decline in group cement volumes. Group EBITDA was also affected by Zimbabwe's currency devaluation and hyperinflation as well as the trading environment in South Africa, plus a one-off restructuring costs of ZAR83m. When excluding PPC Zimb...