Cement News tagged under: Botswana
PPC cement sales fall in 4M24-2501 October 2024, Published under Cement NewsPPC cement sales declined 4.6 per cent in South Africa and Botswana in the first four months of FY24-25. However, revenue increased by 1.6 per cent YoY, supported by a 5.5 per cent hike in prices. The company said it would continue to focus on the turnaround of its cement businesses to improve profitability and cash generation, focussing on people, organisational culture, processes as well as industrial and supply chain optimisation, reported The Star. “The South African cement business is... |
PPC signs agreement with Sinoma24 July 2024, Published under Cement NewsPPC has signed an agreement with Sinoma Overseas Development Corporation to transform PPC’s operations in South Africa, Zimbabwe and Botswana. According to Engineering News, the agreement includes improving efficiency, modernising technology, lowering production costs, increasing the use of non-fossil fuels and expanding production capacity. Commenting on the agreement, Matias Cardarelli, CEO at PPC, said, “In the current highly competitive environment, we must operate our industrial o... |
Botswana to boost production by 20% by September20 May 2024, Published under Cement NewsCement production in Botswana is expected to increase by 20 per cent in preparation for new import restrictions being introduced by the country’s government from the strat of October. In a move designed to control the influx of imported cement, the Botswana government announced its intention to limit cement imports into the country to 1000kg quantities and no less, reports The Voice. Cement demand in the country is currently around 0.6Mta with local cement production estimated at 0.45Mta... |
Botswana to restrict cement imports23 April 2024, Published under Cement NewsBotswana’s government plans to introduce new restrictions for the import of cement in 50kg bags and only allow 1000kg bags from 1 October 2024, according to the Minister of Trade and Industry, Mmusi Kgafela. This then provides an opportunity to look for partners and participate in this wealth creating initiative,' he said. The ban on 50kg bags would enable wealth creation by re-packaging cement in different bag sizes. |
PPC reports 21% advance in revenue in 1HFY2421 November 2023, Published under Cement NewsPPC has posted revenue of ZAR6172m (US$335.2m) in the 1HFY24 (ended 30 September 2023), up 20.9 per cent YoY. EBITDA advanced from ZAR728m in the 1HFY23 to ZAR1069m in the same period a year later, while the EBITDA margin advanced three percentage points to 17.3 per cent. Capex over the six-month period came in at ZAR220m. Operating profit improved from ZAR273m to ZAR675m. In the 1HFY24, the South Africa and Botswana business contributed 57 per cent of group revenue (1HFY23: 68 per cent... |
PPC expects drop in South Africa and Botswana sales volumes17 March 2023, Published under Cement NewsSouth Africa-based PPC forecasts a 4-7 per cent drop in sales volumes in its domestic market and Botswana for the 12 months ending 31 March 2023, according to Reuters. To protect and restore its EBITDA margins it plans further cost reduction measures across its portfolio. Capital expenditure for South Africa and Botswana is expected to be in the range of ZAR280m-310m (US$15.25m-16.89m) for the FY22-23. The company expects net debt in the two countries to be between ZAR725m-775m at year-... |
PPC posts 23% drop in EBITDA17 November 2022, Published under Cement NewsPPC Ltd , which is currently finalising its results for the six months ended 30 September 2022, has posted a 23 per cent YoY drop in EBITDA to ZAR728m (US$42.1m) in the six months ended 30 September 2022. Excluding PPC Zimbabwe, EBITDA fell 12 per cent YoY. Net debt continued to improve, coming in at ZAR677m on 30 September 2022, compared to ZAR1009m in March of this year. According to the company, shareholders should expect earnings per share (EPS) for the 2022 six-month period to “diff... |
PPC Group revenues rise 9%16 September 2022, Published under Cement NewsPPC's group revenues, excluding Zimbabwe, for the five months ended August 2022, increased by nine per cent, driven by robust demand in Rwanda but impacted by hyperinflation accounting. Group cement sales volumes (including Zimbabwe) for the period were in line with the previous comparable period as subdued demand in South Africa and the impact of a maintenance-related kiln shutdown in Zimbabwe were offset by robust demand growth in Rwanda. In addition, cash generation remains positive and... |
Cheetah Cement Botswana to reduce country's cement imports19 August 2022, Published under Cement NewsCheetah Cement Botswana (Pty) Ltd, which includes investment from Chinese backers, has promised to play a crucial role in helping Botswana cut its cement imports to zero. Botswana needs 620,000tpa of cement and the southern African country has been heavily relying on imported cement before the Chinese company was set up, Hui Ming, said the company's general manager. "We are earmarking an annual output of 900,000t of cement as of next June," said Hui Ming. Hui said the company is looki... |
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... |