Cement News tagged under: PPC
PPC to build 30MW solar plant in Zimbabwe27 January 2022, Published under Cement NewsSouth Africa-based PPC will build a 30MW solar power facility at its Colleen Bawn clinker plant in Zimbabwe as part of its decarbonisation strategy. The clinker works will use 15MW for its own power needs and feed the balance into the Zimbabwean electricity grid. The project complements the Zimbabwean government’s drive to increase power generation in the country, important in achieving its Vision 2030 goals. Work on the solar plant is expected to start this year. “At Colleen Bawn in Z... |
PPC posts better-than-expected 1H in Zimbabwe25 November 2021, Published under Cement NewsSouth Africa-based PPC has said its cement sales volume in Zimbabwe surpassed expectations as sales increased by 19 per cent in the six months to September as cement demand in the African country saw double-digit growth. Individual customers as well as government projects drove the increase in sold volumes. Compared with the equivalent period in 2019, PPC’s sales volumes advanced 31 per cent. As a result, revenue increased by 55 per cent to ZAR1.2bn (US$75.7m). PPC received US$2.7m in divide... |
PPC sees 20% YoY rise in revenue23 November 2021, Published under Cement NewsSouth 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 sustainabilit... |
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... |
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 reports 3% increase in revenue22 June 2021, Published under Cement NewsSouth 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 business11 June 2021, Published under Cement NewsSouth 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 Lime04 May 2021, Published under Cement NewsSouth 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 issue01 April 2021, Published under Cement NewsPPC 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 1H2008 December 2020, Published under Cement NewsSouth 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... |