PPC has published its highest set of results since FY2018, achieving improvements across its key financial metrics for FY2025 including EBITDA growth of 28% to R1 593 million (FY2024: R1 242 million) with its EBITDA margins expanding by 3.8% points to 16.1% and its cash flow from continuing operations having increased 306% to R1 049 million.

“Implementing phase one of our ‘Awaken the Giant’ strategic turnaround plan has resulted in a step change in PPC’s margins, profitability and cash generation, which are the highest since financial year 2018. This early success is largely as a consequence of a fundamental change in our strategic direction, the organisational culture, and an absolute focus on our core competencies,” comments PPC’s CEO, Matias Cardarelli.

The Group says its FY2025 results are “remarkable”, considering there wasn’t any significant growth in the markets in which it operates in. PPC’s revenue decreased 1.9% to R9 871 million (FY2024: R10 058 million) mainly due to a 6.7% reduction in its Zimbabwe operations’ revenue with its South African and Botswana revenue stable, increasing by 0.6%.

“Our Awakening the Giant strategic turnaround plan is now well underway and is firmly grounded on ensuring PPC recovers competitiveness, rebuilds profitability and becomes a sustainable leader. We were able to offset inflationary costs with early operational improvements, from logistics optimisation to a better product mix, lower clinker factor and improved sales sourcing. We will remain focused on the imperatives within our control – delivering on carefully considered and executed plans and doing so at an increased pace. We are becoming more competitive and better prepared to deliver an enhanced value proposition to our customers,” he adds.

The Group’s net cash flow before financing activities increased by R789 million to R1 049 million due to improved operating cash flow and reduced working capital.

Earnings per share increased to 32 cents (FY2024: 6 cents) with its headline earnings per share having increased to 40 cents (FY2024: 19 cents).

PPC resumed ordinary dividend payments from its South African business, which have not been declared since 2016, with a record dividend from its Zimbabwean business of 15.70 cents per share.

Its Board declared an ordinary dividend of 17.6 cents (FY2024: 13.7 cents) per share, which comprises a dividend of 1.9 cents per share from the South African and Botswana segments.

PPC signed an engineer, procure and construct (EPC) contract in March 2025 with Sinoma Overseas Development Company for the construction of a new 1.5 million ton a year, R3 billion, state-of-the-art integrated cement plant in the Western Cape, to replace and increase existing capacity.