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PPC - voluntary trading statement
The current period results have been impacted by unrealised foreign exchange losses relating to the outstanding foreign exchange contracts ("FECs") entered into by the group for purposes of hedging the US dollar ("USD") exposure associated with building the new cement plant in the Western Cape (RK3). Management, supported by the board of directors, took a decision to de-risk PPC's balance sheet from rand weakness given the material dollar-based capital expenditure associated with RK3. In the current period, the rand has strengthened against the USD giving rise to unrealised foreign exchange losses on the FECs at 30 September 2025.
Accordingly, a voluntary trading statement was issued regarding the expected earnings per share ("EPS") and headline earnings per share ("HEPS"), as well as the expected EPS and HEPS adjusted for the unrealised foreign exchange losses, in the current period.
The following EPS and HEPS are expected:
- Current period expectation range: 23.50 to 25.75
- Prior period actual: 21.7
Based on the above, EPS and HEPS are expected to be between 8.3% and 18.7% higher than the EPS and HEPS reported for the six months ended 30 September 2024 ("prior period"). Adjusted EPS and HEPS are expected to be between 27% and 36% higher than the EPS and HEPS reported for the prior period.
Full details of the group's performance will be contained in the group's unaudited consolidated financial statements for the six months ended 30 September 2025, which are expected to be released on or about 24 November 2025.
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