Sharenet Sites 
Sharenet Sites
Operational update
Sephaku Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2005/003306/06)
Share code: SEP
ISIN: ZAE000138459
Operational update
Sephaku Cement successfully reaches steady state production in May as envisaged and continues to
increase product presence in its targeted markets.
Sephaku Holdings Limited (“SepHold”) is pleased to advise its shareholders that Sephaku Cement
(Pty) Ltd (“SepCem” or “associate”) has been operating uninterrupted at steady state capacity since
May 2015. SepHold would like to also confirm that the Aganang integrated plant performance tests for
completion were successfully concluded in July 2015 and the major equipment including the kiln is
performing above the guaranteed levels.
SepCem has continued to enhance its share of the market as confirmed by the Dangote Cement PLC
unaudited interim results released on 31 July 2015 in which the associate’s revenue for the 6-month
period ended June 2015 was just above R1 billion rands at an EBITDA of 21%. This performance can
be compared to R919 million at an EBITDA of 14% achieved during ramp up for the 12–month period
to the end of December 2014 and a fourth quarter EBITDA of 26% from October 2014. The lower than
targeted interim margin was mainly due to the six and a half week kiln downtime, two weeks of which
was planned maintenance. The buffer clinker stock was depleted by the end of four weeks and
resulted in the loss of approximately 37% of the average sales volume in April but by May the
volumes had returned to normal levels.The sales performance to date reflects a positive trend
towards SepCem achieving its targeted revenues for the second half of the year in spite of the highly
competitive landscape.
The industry demand growth rate for 2015 is anticipated to be approximately 3.5% to 13.8 million
tonnes against a production capacity of approximately 16 million tonnes based on clinker output. This
projected demand does not include potential volumes from Botswana, Lesotho and Swaziland.
SepCem has been widely and positively accepted as a mainstream producer and is well positioned to
further entrench itself as a formidable cement manufacturer in South Africa.
Métier Mixed Concrete (Pty) Ltd (“Métier”), a wholly owned subsidiary, continues to perform well and
SepHold is pleased to advise that Métier is supplying concrete to the four anchor contracts attained in
April 2015. The scale of the contracts range from 50,000m³ to 75,000m³.
RMB MORGAN STANLEY OFF PISTE CONFERENCE : 30 September – 2 October 2015
SepHold is participating at the RMB Morgan Stanley hosted investor conference and the presentation
that summarises the perfomance of the group to date can be downloaded from
www.sephakuholdings.com
Any reference to operational or future financial performance included in this announcement, has not
been reviewed or reported on by the company’s auditors.
Authorised by
Chief executive officer
Dr. Lelau Mohuba
30 September 2015
___________________________________________________________________________________________________________________________
Enquiries contact: Sakhile Ndlovu Sephaku Holdings Investor Relations 012 612 0210
Sponsor to Sephaku Holdings: Questco (Pty) Ltd
About Sephaku Holdings Limited
Sephaku Holdings Limited (SepHold) is a building and construction materials company with a portfolio of investments in the
cement sector in South Africa. The company’s core investments are a 36% stake in Sephaku Cement (Pty) Ltd and 100% in
Métier Mixed Concrete (Pty) Ltd. SepHold’s strategy is to generate income and realise value for shareholders through the
production of cement and ready-mixed concrete in southern Africa.
www.sephakuholdings.com
Date: 30/09/2015 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
