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:


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