South Africa: PPC’s revenues fell by 1.9% year-on-year in the 12 months to 31 March 2025, decreasing to US$560m. However, earnings before interest, tax, depreciation and amortisation (EBITDA) surged by 28% to US$88m.
CEO Matias Cardarelli said that PPC has had to focus on internal corrections to grow its earnings and unlock underutilised value for the company. He explained that the company had performed ‘ahead’ of what it had expected for the period under review. “There was a narrative that the only problems that PPC was having were the problems connected to the economy, and the cement sector in South Africa had not grown for more than 10 years. Whereas that was not completely the case. That had a negative impact on the company,” said Cardarelli.
PPC is building a new 1.5Mt/yr plant in the North West Province with China’s Sinoma, as well as a new solar power plant in Zimbabwe as it invests further into the company at a time when the costs of electricity and other inputs are spiking. The company said that imports of cement into its regional markets were not a major worry as it was increasing its competitiveness against rival local and imported products. “In South Africa, we remain cautiously optimistic for the announcement by the new government of big infrastructure plans,” Cardarelli added.
