Below are excerpts from the presentation by the Chief Finance Officer for Copperbelt Energy Corporation at the virtual AGM held on 30 September 2020:

CFO’s presentation at the virtual AGM

2019 financial highlights
  • REVENUE: USD402m, down 3% (2018: USD421m)
  • EBITDA: USD36m, down 67% (2018: USD110m)
  • PAT: USD12.2m, down 78% (2018: USD55.9m)
  • CASH BALANCE: USD77.9m, down 9% (2018: USD85.8m)
  • IMPAIRMENT: USD55.3m, down 59400% (2018: USD0.93m)
  • CASH COSTS: USD35m, down 8% (2018: USD38m)
2020 focus areas and Why focus on these areas

Receipt of KCM will address the following:

  • Going concern position of the business
  • Improve financial position and allow the business to meet its corresponding obligations

Contractual Arrangements

  • Reduce the risk of litigation
  • Address the current business uncertainty
  • Facilitate for improved ability for business to meet its down stream obligations

Overall, the above also allows the business to continue to contribute to the wider economy through taxes, supplier payments, shareholders, social investment contractors, etc


CEC CFO’s Presentation to the 2020 AGM.pdf