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Inscription: Jeu 30 Juil 2009 16:48
Localisation: la seyne sur mer
Jeu 10 Mar 2011 22:15
Copperbelt Energy Corporation PLC
- EPS up 6.7%
- Average load sales volume up 8% to 470MW (2009: 436MW)
- Cost of sales up 9% to US121.4mn (2009: US$11.8mn)
- Operating profit up 11% to US$15.8mn
- Capex US$13.8mn
- Dividend per share K48.19
Copperbelt Energy Corporation PLC
Results for FYE
2010
2009
Change
US$'000
US$'000
%
Revenue
167,294
154,169
8.5%
Results from operating activities
15,768
17,806
-11.4%
Net finance costs
(545)
(750)
-27.3%
Income tax expense
(4,996)
(5,994)
-16.6%
Other comprehensive income for the year
2,492
858
190.4%
Total comprehensive income for the year
12,719
11,920
6.7%
Earnings per share
weighted and basic EPS (US cents)
12.7
11.9
6.7%
Dividend per share (US cents)
1.0
1.0
No. of Shares
1,000
1,000
Future outlook
- Various projects being undertaken to supply new mining projects on the Copperbelt, which include Muliashi Project by CNMC-LCM, Konkola North Mine project by KONNOCO, the Synclinorium Project by MCM and CRO Project by KCM. Upon completion, these projected will require in excess of 100MW additional capacity.
- Construction of a new double circuit 220KV interconnector between Zambia and the DRC, a joint project between CEC and the DRC electricity utility, SNEL is ongoing. The cost of the Zambian portion is US$16.5mn. The line will facilitate transfer of 550MW firm power between DRC and Zambia.
- The feasibility study of the proposed 40MW Kapombo Gorge in North-Western Province was completed in the year. Activities related to completion of financing, tendering, environmental compliance activities will be undertaken during 2011.
- The company submitted a request to the Public-Private Partnership Unit (PPP Unit) of the Ministry of Finance to undertake feasibility studies on hydro sites on Luapula River as well as transmission line connecting Copperbelt Province to Luapula Province through the DRC. The Governemnt granted the company the authority and work on the studies on the river schemes has commenced.
- The company responded to a n invitation of expression of interest by PPP Unit to develop the power distribution network for the proposed Nansanga Farm Block and the company has been pre-qualified to participate in the next stage, which involves submission of a detailed bid.
- A unit in the company has been created to focus on the development of renewable energy projects. The initial cope of the group has been to identify pilot projects in the areas of bio-fuels, and bio-mass and solar electricity generation that may lead to viable business units in future. A key development during the year was the commissioning of a bio-fuel plant in Kitwe. An agreement to purchase oil has been entered into with the Kapiri Mposhi Jathropa Grower’s Association, starting at a level of 200 000 litres per annum. The bio-fuel will be used in the company’s own vehicle fleet and generating plant in the first instance.
- The company purchased the underground fibre in Lusaka and other commercial centres owned by Realtime in the final quarter of 2010. The total network owned and operated by CEC now comprises 520km with the Copperbelt on power lines, and a further 250km of buried fibre throughout the country, mainly in commercial centres. The network is currently extended to cover new towns, including Livingstone, Kabwe and Solwezi.