ZCCM-IH Announces 1077% Increase in Earnings

ZCCM Investments Holdings PLC has released a trading statement revealing a substantial increase in earnings for the year ending 31 December 2024. The company's Earnings Per Share (EPS) is expected to rise by approximately 1077% compared to the previous year. This significant growth is attributed to the successful Mopani Strategic Equity Partner (SEP) Transaction, which transformed Mopani Copper Mines Plc into a financially sustainable operation.

Through the Amendment, Restatement, and Consolidation Agreement (ARCA), ZCCM-IH settled ZMW 44.72 billion (US$1.71 billion) in debt. Consequently, a one-off gain of ZMW 35.92 billion (US$1.41 billion) was recorded, and Mopani was reclassified from a subsidiary to an associate. As a result, ZCCM-IH reported a profit of ZMW 39.85 billion (US$1.52 billion) for the past financial year, contrasting with a loss of ZMW 4.08 billion (US$198.58 million) the previous year.