CEC FY2016 results presentation

We are pleased to release the 2016 full year results presentation. Below are excerpts from the presentation.

Financial Highlights

• USD355m revenue similar to last year despite drop in domestic sales
• Sales revenue sustained by increase in power trading amid various challenges experienced in 2016
  – Partial force majeure by ZESCO continues to necessitate that CEC supplements with regional sources
  – Low copper prices compelled mines to manage their costs more stringently and scale back on operations
• Local power sales still account for a significant portion of the revenue
  – Decreased 16% in 2016 from USD278m (2015) to USD221m
• Power trading continues to make up for the reduction in power sales to local mines.
  – Increased by 86% to USD120m in 2016

Note the presentation maybe accessed below:

CEC FY2016 results presentation

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