PPC (PPC) FY25 – Results Snapshot

Diluted HEPS from total operations increased by 48.1% y-y to 40cps. DHEPS from continuing operations 40cps compared to 19cps LY.
Revenue from continuing operations decreased by 1.9% y-y to R9 871m, driven by declines in the Zimbabwean and SA Materials operations.
GPM increased from 16.4% to 19.7%.
OPM rose from 3.2% to 8.3%, driven by improvements in operating profit in SA & Botswana (+178% y-y) and Zimbabwe (+46.1% y-y).
Expenses decreased by 14.7% y-y, expense-to-sales ratio fell by 170bps to 11.5%.
Dividend of 17.6cps (FY24: 13.7cps).
Gross debt decreased by 35.6% y-y to R502m.
Cash from operating activities decreased by 74.9% y-y to R1.4bn.