PPC’s share price climbed 3.6% to R5.16 on Monday morning after the cement and aggregates producer announced a “significant improvement” in its financial performance for the four months ending July 31, 2025.
The Johannesburg Stock Exchange-listed company, which operates in South Africa, Botswana, and Zimbabwe, said its two-year-old “Awaken the Giant” turnaround programme was delivering results, building on gains recorded in the 2025 financial year. The strategy aims to strengthen market leadership and competitiveness in the long term by boosting profitability and cash flow, despite South Africa’s challenging economic climate.
For the four-month period, group earnings before interest, tax, depreciation, and amortisation (EBITDA) rose by more than 20% compared with the same period last year, while EBITDA margin expanded by over two percentage points.
In South Africa and Botswana, cement sales volumes grew by 2%, supported by higher retail demand and clinker exports to PPC Zimbabwe. EBITDA margins in these markets jumped from 10.3% to 17.7%, with directors noting that the timing of plant shutdowns had temporarily lifted performance. They expect margins to stabilise at around 17% by the end of September 2025.
Meanwhile, Zimbabwe registered a 22% increase in cement sales volumes, driven by robust consumer demand and the introduction of a 30% import tariff on cement in May 2025.
During the reporting period, PPC Zimbabwe also carried out an extended shutdown at its Colleen Bawn plant as part of a three-year performance enhancement plan. The upgrade is expected to boost clinker production capacity, enabling the company to better meet rising market demand.
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