ZCCM-IH Reports Significant EPS Growth Despite Company-Level Losses

ZCCM Investments Holdings PLC ("ZCCM-IH") has announced a significant increase in Earnings per Share (EPS) for the half-year ending 30 June 2024. The Group's EPS is expected to exceed the previous year's equivalent period by 2396%. Financial results indicate the Group's EPS stands at ZMW344.05, a substantial improvement from the negative ZMW14.98 in 2023. This growth is attributed to a one-time gain from a Strategic Equity Partnership worth ZMW42.3 billion (US$1.66 billion) with International Resources Holding RSC Ltd.

However, at the Company level, EPS has declined to negative ZMW29.46 per share, a stark contrast to ZMW3.43 per share in the prior year. This decline results from an investment expense of ZMW3.86 billion (US$150 million) payable to Glencore over five years. This payment is part of a deal where ZCCM-IH covered a write-down of MCM debt to Glencore amounting to US$1.7 billion.

Shareholders are advised that these results will be published on or about 30 September 2024. Until then, they should exercise caution when dealing with the company's securities.