PPC has increased its group EBIDTDA for the first four months of its financial year by more than 20% over 2024’s comparable period. The Group’s EBITDA margin grew by over 2 percentage points, reaching 15.9% with margins expected to continue increasing from the current level.

Group revenue for the four-month period ended 31^st July 2025 increased by 4%, driven by growth in South Africa and Zimbabwe.

“We continue to successfully deliver on our ‘Awaken the Giant’ strategic turnaround, which is focused on long-term leadership and competitiveness through improved profitability and cashflow,” comments Matias Cardarelli, CEO of PPC. “The last four months’ results have shown a marked improvement compared to the results for the same period last year, despite a weak economic environment. Our commitment is to stay the course, execute with precision, and ensure that every step we take continues creating long-term sustainable value for our stakeholders.”

In South Africa, PPC’s EBITDA margin increased materially by 7.4 percentage points to 17.7% from 10.3% in the comparable period. Despite the low levels of infrastructure development in SA, PPC’s sales volumes increased by 2% relative to the comparable period due to stronger retail sales and higher sales of clinker to PPC Zimbabwe.

Cement sales volumes in Zimbabwe increased by 22% in the current four-month period compared to 2024. During the first two months of the current period, PPC Zimbabwe implemented a planned extended shutdown in its Colleen Bawn plant. This was planned as part of the three-year plant performance improvement plan, aimed at better positioning PPC Zimbabwe to produce higher volumes of own clinker for the production of cement to supply the growing demand in the market.

The costs of the extended shutdown, combined with the higher consumption of imported clinker, temporarily impacted EBITDA and the EBITDA margin in the first three months of the current period. PPC Zimbabwe’s EBITDA margin reduced to 15.3 % from 29% in the comparable period.

After the extended shutdown, the monthly EBITDA margin returned to the level achieved in the comparable period. Cash generation remained strong, resulting in PPC Zimbabwe declaring US$20 million in dividends in the first half of the current financial year, compared to US$4 million in the first half of 2024.

In late August 2025, PPC announced that it had concluded an agreement (through its Zimbabwean subsidiary) to dispose of vacant land (Arlington Estate) to a privately held Zimbabwean property development for a cash consideration of US$30 million. PPC says the sale of the property remains on track but it has not been accounted for in the current period.