Cement News tagged under: PPC

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Financial restructuring positions PCC for long-term recovery

25 June 2021, Published under Cement News

Competent 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 reports 3% increase in revenue

22 June 2021, Published under Cement News

South Africa’s PPC has reported a three per cent YoY increase in group revenue for the year ended 31 March 2021, rising to ZAR8938m (US$626.07m) from ZAR8671m, due to a recovery in cement sales following the easing of lockdown restrictions. Opportunistic cement sales resulting from its ability to respond to an increase in demand in some markets also contributed to revenue growth. Excluding Zimbabwe, group revenue increased by seven per cent YoY, according to the group. "The group experienc...

PPC to sell Botswana aggregate quarry business

11 June 2021, Published under Cement News

South Africa-based PPC has entered into a binding sale and purchase agreement to sell its 100 per cent shareholding in PPC Aggregate Quarries Botswana Proprietary Ltd for a cash purchase consideration of BWP47.5m (US$4.49m). The purchaser is a construction and mining company in Botswana, with conditions for the agreement expected to be met by 1 August 2021. PPC also anticipates group EBITDA for continuing operations to increase by between 14-18 per cent YoY in the full-year ended 31 March 2...

PPC sells lime operations to Kgatelopele Lime

04 May 2021, Published under Cement News

South Africa’s PPC has announced the sale of its lime operations to Kgatelopele Lime for ZAR515m (US$35.5m). The net proceeds from the divestment are part of PPC’s capital restructuring programme, with the net proceeds set to be used to de-gear its South African balance sheet. "This divestment from our lime assets, which we consider non-core to our business, is timely and plays a vital role in our capital restructuring strategy to reduce our South African debt. This will support the South ...

PPC postpones its ZAR750m rights issue

01 April 2021, Published under Cement News

PPC Ltd, South Africa's biggest cement maker, held off on a planned rights issue of about ZAR750m (US$640m) following a sales boost and advancing talks on the disposal of its lime business. PPC has negotiated with lenders to postpone the share sale for at least six months, said CEO Roland van Wijnen. The group saw double-digit cement-revenue growth in its home market from the middle of last year, enabling it to meet interest payments, he said. PPC will also gain additional clarity o...

PPC sees EBITDA rise 15% in 1H20

08 December 2020, Published under Cement News

South Africa-based PPC has seen its group revenue edge up one per cent to ZAR5.01bn (US$331.1m) in the half-year period ending 30 September 2020, compared to ZAR4.95bn in the 1H19. The rise has been attributed to robust cement sales after COVID-19 restrictions were eased. Group EBITDA increased 15 per cent YoY to ZAR996m from ZAR868m, with an EBITDA margin of 19.9 per cent. Operating profit also rose 77 per cent to ZAR610m against ZAR344m in the year-ago period. However, profit after tax f...

PPC sees rise in sales volumes in the 3Q20

16 November 2020, Published under Cement News

South Africa’s PPC has announced that its cement sales volumes increased 20-25 per cent YoY in the third quarter of 2020. "This trend has continued in October with strong cement sales volumes experienced for the month, up 15-20 per cent compared with the same period last year," said the group in an operational update. The rise in sales has been attributed to individual consumers instead of construction companies. In July-September 2020, sales volumes in PPC Zimbabwe and PPC Barnet i...

PPC settles cement cartel case

16 November 2020, Published under Cement News

PPC has reached a settlement agreement with South Africa’s Competition Tribunal on the cement cartel case, bringing the 12-year matter to a close, reports Business Weekly. The agreement comes after the competition launched a probe into anti-competitive behaviour in the cement industry in 2008. PPC, along with competitors LafargeHolcim, AfriSam and Natal Portland Cement Cimphor (NPC), allegedly agreed to divide the South Africa, Lesotho, Botswana, Swaziland and Namibia markets in 1995. The ...

PPC sees group revenue decline 2% YoY

16 October 2020, Published under Cement News

South 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...

PPC delays FY20 earnings results

30 September 2020, Published under Cement News

PPC of South Africa has delayed the release of its full-year earnings for a third time as it finalises its financing. The new date for the financial disclosure is now set for 5 October 2020. PPC has been making adjustments to the valuations of assets in Ethiopia and the Democratic Republic of Congo, and the company hopes to conclude a deal with South African lenders in October, reports BNN Bloomberg. PPC reported a resurgence of construction activity in South Africa in June and July and do...