Cement News tagged under: southern Africa
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... |
Huaxin increases Chilanga stake26 July 2022, Published under Cement NewsHuaxin Ltd has increased its shareholding in Zambia-based Chilanga Cement from 75 to 81.19 per cent following the purchase of 50,013,468 shares, according to the Times of Zambia. The company submitted a cash offer to the board of directors of Chilanga Cement to purchase from the minority shareholders, all the remaining 50,013,468 shares that did not own representation of 25 per cent shareholding. |
PPC calls for SA government action on cement dumping04 July 2022, Published under Cement NewsPPC has urged South Africa’s government to investigate “cement dumping” by countries such as Vietnam. It believes that the survival of the local cement industry may be under threat if the practice is left unchecked. PPC CEO Roland van Wijnen said that the Department of Trade, Industry and Competition should also consider broad import tariffs for cement to avoid new countries dumping cement and filling the void left by countries that have been subject to new dumping tariffs. “There will a... |
PPC reports 11% increase in revenue in FY2228 June 2022, Published under Cement NewsPPC has reported group revenue for the 12 months ended 31 March 2022 of ZAR9882m (US$621.9m), an increase of 11 per cent YoY. Excluding Zimbabwe, group revenue was up five per cent, while revenue in PPC Zimbabwe alone advanced by 34 per cent on the back of a 28 per cent upturn in volumes. Profit before tax from continuing operations came in at ZAR186m, compared to ZAR1765m in the year-ago period, due in part to PPC Zimbabwe incurring a loss before tax of ZAR67m, and impairments of ZAR38m. ... |
South Africa requests no cement price increases27 June 2022, Published under Cement NewsThe South African government has asked the country's cement producers to commit to no price increases in return for the government approving safeguard action against cheap imports. The move has raised doubts about the success of an application made by a number of producers to the International Trade Commission back in August 2019, according to Moneyweb. The application was for a flat, non-country-specific tariff. The producers claim that the cost of doing business in South Africa is much ... |
Lafarge Cement Zimbabwe to increase exports24 June 2022, Published under Cement NewsLafarge Cement Zimbabwe made its first exports to Malawi and is expecting to build on the shipment to increase exports from Zimbabwe. “Because of our significant capacity, which is first of all oversized for the domestic market, growing demand in the region for this type of products, we are looking at, especially, (export) markets like Zambia and Malawi,” said CEO Geoffrey Ndugwa. “We just made our first exports to Malawi a few weeks ago, so we are feeling pretty good about the trend,” h... |
Fossil to recapitalise Lafarge Zimbabwe15 June 2022, Published under Cement NewsFossil Mining, the new owner of Lafarge Zimbabwe, has said it plans to keep the company on the Zimbabwe Stock Exchange once its takeover of the cement producer is completed. According to the company, it intends to recapitalise Lafarge Zimbabwe, leading to an increase in cement output. “Currently 40 per cent of Zimbabwe’s cement requirements are imported, an opportunity that Fossil wants to capitalise on by providing the market with readily available cement,” the company said, as reported in ... |
Cheetah Cement ordered closure13 May 2022, Published under Cement NewsNamibia’s labour ministry has ordered Chinese-owned Cheetah Cement plant at Otjiwarongo to stop production due to health concerns. The ministry says a team of occupational safety, health and labour inspectors concluded after an inspection that the company's plant is an unsafe working environment. The ministry's acting executive director, Lydia Indombo, says the ministry identified shortfalls and contraventions in terms of health regulations, and that the company was instructed to make im... |
South Africa’s long walk to recovery08 February 2022, Published under Cement NewsWhile 2021 saw some pick-up in South Africa’s cement market, analysts do not expect a full recovery before mid-2024. By Industry Insight, South Africa. As the COVID-19 mutation Omicron sweeps through the country, South African cement producers see market recovery postponed (Photo credit: AfriSam) The South African economy remains in crisis. Although there was a recovery in local production and consumption in 2021, record lows due to the COVID-19 pandemic and a lockdown-ravage... |