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News PPC increases sales as earnings fall in 2022 financial year

PPC increases sales as earnings fall in 2022 financial year

Written by Global Cement staff 28 June 2022
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South Africa: PPC’s full-year consolidated sales were US$624m in the 2022 financial year, which ended on 31 March 2022, up by 11% year-on-year from US$561m in the 2021 financial year. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 6.9% to US$94.5m from US$101m. During the year, the group reduced its debt by 55% to US$63m from US$139m.

The group noted high cement demand across its markets in the 2022 financial year, including a sales volumes increase of 28% year-on-year in Zimbabwe. It also noted a 19% year-on-year increase in South African cement imports, mainly from Vietnam, which constituted 10% of sales in the 2022 financial year. PPC said that it will ‘immediately make additional capacity available’ to capture the increased demand through the rest of 2023 financial year.

Last modified on 29 June 2022
Published in Global Cement News
Tagged under
  • PPC
  • Results
  • PPC Zimbabwe
  • South Africa
  • Zimbabwe
  • demand
  • Consumption
  • Forecast
  • Import
  • Vietnam
  • Debts
  • market
  • growth
  • Capacity utilisation
  • GCW563

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