In compliance with the requirements of the Securities Act No. 41 of 2016 and the Lusaka Securities Exchange (“LuSE”) Listing Rules, Chilanga Cement PLC (“Chilanga” or “the Company”) announces the audited financial statements results of the Company for the year ended 31 December 2022.
KEY FIGURES
FULL-YEAR COMPANY HIGHLIGHTS
The Company has demonstrated a highly resilient performance in 2022. The Company continued to focus intensively on commercial transformation and sustainability for continued growth despite the challenges in the operating environment such as tight liquidity, competition and contracting local market. The Company recorded several improvements in industrial performance, commercial transformation, and financial performance.
Post-acquisition of the Company by Huaxin Group from Holcim Group, the Company has focused on shareholders’ value creation through expanding its customer base and promoting the integration of employee cultural diversity.
While competition in the Zambian cement industry remained very high, the Company increased its earnings per share to K1.65 (2021:K1.46) representing 13% increase compared to 2021. This was achieved through the various production and operational cost-efficiency initiatives implemented during the year.
At the next Annual General Meeting, the Directors will propose a final dividend of K1.00 (2021: nil) for the year 31 December 2022.
MR CHAI, CHIEF EXECUTIVE OFFICER OF CHILANGA CEMENT PLC SAID:
Despite the challenges the business faced in the domestic market, the Company continued to focus intensively on commercial transformation and sustainability for continued growth. The rollout of the Company’s sales representatives based in their areas of operations accelerated the expansion of the domestic market and enhanced value for our customers. In 2023, the Company will focus on growing its retail channel, expanding its export market, and optimizing
its plant operations.
CONDENSED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022