These numbers mask a relatively sound performance in the coastal region while trading in the inland region continues to be very challenging, PPC outlines. PPC expects cement sales volumes in South Africa and Botswana to decrease by 4% to 7% year-on-year for the full year.Ī decrease of 2.6% was reported for the first six months of the year and the negative trend in market demand has continued in the second six-month period.
Both PPC Zimbabwe and Cimerwa expect to be in a net cash position at period-end with sustained dividend payments being a key priority.Ĭimerwa declared its first dividend in the current financial year, which is anticipated to be paid out before end March. In Rwanda, Cimerwa’s debt continues to decrease and matures in August 2024.
Gross debt is anticipated to reach PPC’s targeted levels by year-end, which would allow for distributions while maintaining gross leverage at 1.3x to 1.5x the full South African and Botswana operations’ earnings before interest, taxes, depreciation and amortisation (Ebitda), which includes dividends from Zimbabwe and Rwanda.
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