Cement News tagged under: PPC

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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...

PPC's CFO to step down at the end of the month

11 October 2019, Published under Cement News

South Africa’s PPC has announced that its Chief Financial Officer, Tryphosa Ramano, will step down on 31 October after eight years at the company. Ms Ramano has agreed to take on a consultancy role with PPC to ensure continuity. Ronel van Dijk has been appointed as interim CFO and as an executive director. The news follows Roland van Wijnen taking over as CEO of PPC at the start of this month.

PPC Zimbabwe's cement sales volumes fall by 25%

04 September 2019, Published under Cement News

PPC Cement's Zimbabwean cement sales volume contracted by 25-30 per cent in the four months ended 30 June 2019. The country has been hit by fuel and electricity shortages and other economic pressures. "Overall cement sales volumes contracted by between 25-30 per cent due to a weaker economic climate. Cement pricing, which was aligned with input cost inflation, was higher than the previous comparable period," PPC said. "Trading conditions in Zimbabwe remain challenging, due to liquidit...

PPC releases operational update for the 4MFY20

30 August 2019, Published under Cement News

South Africa's PPC has released an operational update for the four months to 30 July, noting a 5-10 per cent increase in group EBITDA due to positive price momentum in South Africa and cost optimisation initiatives. Average cement prices in its southern Africa region (including Botswana) rose 7-8 per cent in the period, however cement sales declined 10-15 per cent YoY on the back of a decrease in domestic demand. The company noted that importer and blender activity contributed to the comp...