CEC FY 2022 revenue increased by 9% to US$374m
Copperbelt Energy Corporation Plc (CEC) FY 2022 revenue increased by 9% to US$374 million from US$342 million the previous year.
Highlights:
- 57% of the revenue is attributed to Zambia Copper mines, 27% to DRC copper mines while the rest is attributed to wheeling.
- Since 2021, Konkola Copper Mines has been supplied by ZESCO, and CEC has been mandated as a common carrier.
- Power generation capacity of 114MW, comprising 34MW Solar PV and 80MW Thermal.
- FY 2022 earnings remained unchanged at US$51 million relative to year prior.
- Dividends were raised by 35%.
- Profitability improved as shown by an increase in operating margins to 27% from 22% year prior.
Investor Issues
- Share price at an all time high.
- Modest leverage as reflected by a low debt/equity ratio of 1%.
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About the Author: Hartland-Peel Africa Equity Research
Sub-Saharan Africa ex SA: Equity, debt and FX research covering sixteen countries and advising institutional investors. Proprietary data base of sixteen African stock markets, 250+ companies which is one of the most extensive and complete. New issues, IPO’s and distribution of equity on privatisation. Development of lending and corporate finance opportunities for the bank, privatisation and asset management. An ‘A’ rated equity analyst by South African institutional investors as polled by the Financial Mail in 1998 and 1999.
