Financial Indicators

Commenting on the Group’s performance for the period ended 30th June 2026, CEO Owen Silavwe said
“As we advance the next phase of our growth, we are pleased with the steady progress delivered during the period. Building on this momentum, we are accelerating investment in strategic transmission infrastructure and renewable energy generation projects to expand our capacity, strengthen our position across our markets and meet the growing energy requirements of our customers.

The commissioning of the 136MW Itimpi 2 Solar PV Plant and the 12MW Fitula Solar PV Plant during the period marked important milestones in the execution of our investment strategy, expanding our generation capacity and further strengthening the availability of local power sources. These developments, together with strong operational performance across the business, demonstrate the continued progress we are making in advancing our long-term growth strategy.

The performance during the period remained strong, supported by increased volume across our core business segments. Revenue increased by 5.6% to USD 380 million, reflecting continued growth in electricity demand, underpinned by positive industry fundamentals, increased economic activity and supportive policies driving investment and expansion across our key markets. Adjusted EBITDA increased by 21.7% to USD 110.5 million, from USD 90.8 million in the corresponding period in 2025, demonstrating the strength of our underlying operations. Profit grew by 0.2% compared with the corresponding period in 2025, notwithstanding that the prior-year comparative benefited from a USD 10.4 million debt recovery from KCM. The Group closed the period with a strong cash position of USD 212.8 million, providing significant financial flexibility to advance our investment programme while maintaining a strong balance sheet. This performance provides a solid foundation from which to accelerate the execution of our growth strategy and continue creating sustainable long-term value for our shareholders.

Looking ahead, our growth strategy remains underpinned by an encouraging demand outlook, particularly from the mining sector, supported by continued investment in copper production and broader global electrification trends driving demand for critical minerals. Against this backdrop, we remain focused on ensuring reliable power supply to our customers, accelerating investment in renewable energy generation and expanding strategic transmission infrastructure, including additional capacity into the DRC. These investments are central to our long-term growth strategy and position the Group to capture emerging opportunities across our markets, meet growing customer demand and deliver sustainable long-term value to our shareholders.

Financial Highlights

Revenue increased to USD 380.3 million in 2026, up from USD 360.0 million in 2025, reflecting 5.6% growth. The improvement was driven by strong performance across the Group’s core business segments, underpinned by increased volumes and improved availability of power.

Profit for the period was sustained at USD 61.6 million, compared to USD 61.5 million in the corresponding period in 2025, demonstrating the strength of the Group’s underlying operating performance. This was achieved notwithstanding an impairment charge on receivables of USD 7.2 million in the current period, compared with a USD 10.5 million impairment writeback in the prior year, which benefited from a USD 10.4 million debt repayment by KCM.

During the period, the Group continued to meet its Green Bond debt service obligations, paying USD 6.3 million in interest and USD 1.2 million in principal. The increase in interest payments from USD 3.9 million in 2025, reflects the two Green Bond tranches issued to date, with an aggregate principal amount of USD 150.27 million.

The Group closed the period with a strong cash position of USD 212.8 million, up from USD 198.8 million as at 30 June 2025, providing significant financial flexibility to support our ongoing investment programme.

No dividend was declared or paid during the six months ended 30 June 2026.

Cautionary on Forward-looking Information

This summary results announcement contains financial and non-financial forward-looking statements about the Company’s performance and position. We believe that while all forward-looking information contained herein is realistic at the time of publishing this report, actual results in the future may differ from those anticipated. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause CEC’s actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by these forward-looking statements. Although CEC believes that the expectations reflected in these forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. We take no obligation to revise or update these forward-looking statements to reflect events or circumstances that arise after the statements have been made.

About the Company

CEC’s core business is the supply of power mainly to the mining sector and other large power users in the Southern African Development Community (SADC). A member of the Southern African Power Pool (SAPP), CEC provides transmission use-of-system and power wheeling services through its network to ZESCO Ltd and other large network users in Zambia and the SAPP. The Company operates an extensive power transmission network that includes the interconnection with the DRC. CEC has six incorporated subsidiaries: CEC DRC Sarl, Garneton South Solar Limited, Fitula Solar, CEC Renewables Limited, Power Dynamos Sports Limited (PDSL), and Kabompo Hydro Power Limited (KHPL).

By Order of the Board
Julia C Z Chaila (Mrs.)
Company Secretary

Related Downloads

CEC PLC – Unaudited Results for the Half Year Ended 30 June 2026.pdf