PPC LIMITED - Trading statement and Sale of PPC Aggregate Quarries Botswana Proprietary Limited

Trading statement and Sale of PPC Aggregate Quarries Botswana Proprietary Limited

PPC Limited
(Incorporated in the Republic of South Africa)
(Company Registration number 1892/000667/06)
JSE ISIN: ZAE000170049
JSE Code: PPC ZSE Code: PPC
("PPC" or "Company" or "Group")

TRADING STATEMENT AND SALE OF PPC AGGREGATE QUARRIES BOTSWANA PROPRIETARY LIMITED


TRADING STATEMENT
PPC is currently finalising its results for the twelve months ended 31 March 2021 (“the period”). In
terms of the JSE Limited Listings Requirements ("JSE Listings Requirements"), shareholders are advised
that PPC is satisfied that a reasonable degree of certainty exists that the financial results for the period
to be reported upon will differ by at least 20% from that for the previous corresponding period, being
the twelve months ended 31 March 2020 ("the prior period").


In accordance with IFRS 5 - Non-current assets held for sale, the group has accounted for its PPC Lime,
Botswana Aggregates and PPC Barnet DRC businesses as discontinued operations. Accordingly, the
assets, liabilities and profit and loss are reported separately in the financial statements for the year
ended 31 March 2021.

Earnings before interest, tax, depreciation and amortisation ("EBITDA") for continuing operations is
expected to increase by between 14% and 18% compared to EBITDA in the prior period. This increase
is notwithstanding the Group incurring significant restructuring costs in the current financial year and
a full lock-down In April 2020 due to COVID with continuing COVID impacts thereafter.


Earnings per share ("EPS") for the period for continuing operations is expected to be between 63 cents
and 68 cents per share, an increase of between 247% and 258% from the 43 cents per share loss for
the prior period. Headline earnings per share for the period for continuing operations is expected to
be between zero cents and 5 cents per share, a decrease of between 91% and 100% compared to the
54 cents per share for the prior period.


EPS for the Group for the period is expected to be between 10 cents and 15 cents per share, an increase
of between 108% and 112% from the 124 cents per share loss for the prior period. Headline loss per
share for the period for the Group is expected to be between 13 cents per share and 18 cents per
share, a decrease of between 148% and 167% compared to the 27 cents per share profit for the prior
period.


Headline earnings is impacted by the impairments of property, plant and equipment raised at 31 March
2020, some of which are now reversed as at 31 March 2021.
Earnings and headline earnings for the 2021 financial year are impacted by hyperinflation accounting
in terms of IAS 29 - Financial accounting in hyperinflationary economies, resulting in a net monetary
loss of R200 million in the current year compared to a gain of R651 million in the prior period.


The financial information on which this Trading Statement is based is the responsibility of the directors
of the Company and has not been reviewed or reported on by the Group's independent auditor.


The Group's audited annual financial statements for the year ended 31 March 2021 are expected to
be released on or about 21 June 2021.


SALE OF PPC AGGREGATE QUARRIES BOTSWANA PROPRIETARY LTD
A binding sale and purchase agreement has been entered into between PPC Botswana Proprietary
Limited (a wholly-owned subsidiary of PPC) and a construction and mining company in Botswana, to
sell PPC's 100% shareholding in PPC Aggregate Quarries Botswana Proprietary Limited for a cash
purchase consideration of Pula 47.5 million (equivalent to approximately R60 million at an exchange
rate of R/Pula of 0.78). The purchaser is not a related party in terms of the JSE Listings Requirements
and the transaction is subject to customary conditions precedent for a transaction of this nature. PPC
expects that the conditions precedent will be met before 1 August 2021.

Sandton
9 June 2021


Sponsor
Sasfin Capital
A member of the Sasfin Group


Financial Communications Advisor:
Instinctif Partners
Louise Fortuin
Mobile: +27 71 605 4249

Date: 09-06-2021 08:45:00
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