2nd quarter results

ZCCM Invs.Hldgs PLC 31 March 2006 ZCCM Investments Holdings Plc Incorporated in the Republic of Zambia Directors' Quarterly Summary incorporating Financial Results for the quarter ended 31 December 2005 DIRECTORS Mr G K Chibuye (Non-Executive) Chairman of the Board Dr S Musokotwane Director Mr L Nkhata Director Mr G P Mukala Director Dr D H Kalyalya Director Mr E Mutale Director Mrs L I Ng'andwe Director Management Committee General Manager Vacant Company Secretary Mr W S Musama Acting Chairman Technical Investments Manager Mr J M D Patterson Finance and Investments Manager Mr Z Zekko Legal Investments Manager Mr J K Kaite Technical Investments Officer Mr W K Katoto Environmental Manager Mr J Makumba Financial Analyst Mr K K Mulaisho Committee Secretary ZCCM INVESTMENTS HOLDINGS Plc and its subsidiary companies DIRECTORS' QUARTERLY SUMMARY ZCCM - IH Group Turnover of K27,020 million was achieved during the quarter ended 31 December 2005 compared to K31,702 million at December 2004. Group operational expenditure was K37,076 million compared to K42,293 million last year. A net operating profit of K178,359 million was recorded in the quarter, compared to last year's profit of K12,541 million. The profit reported was mainly on account of exchange gains of K178,710 million compared to the exchange gain of K23,023 million at 31 December 2004. The Shareholding of AHC Mine Municipal Services Limited, a wholly owned subsidiary of the company was finally handed over to the designated District Councils on the Copperbelt on 19 January 2006 by Deed of Gift. Subsequent to the quarter end, the company has signed a Subscription Agreement, with Equinox Minerals Limited for the acquisition of shares worth US$30 million relating to the Lumwana Copper Project in the North Western province of Zambia. At the conclusion of the deal by 30 June 2006, ZCCM-IH will be entitled to a sole director appointment on the board of the Zambian based company, Equinox Copper Ventures Limited, which is to run the operations of the Lumwana Copper Project. By order of the Board W S Musama Company Secretary Lusaka 29 March 2006 ZCCM INVESTMENTS HOLDINGS PLC GROUP PROFIT/( LOSS) ACCOUNT FOR THE QUARTER ENDED 31 DECEMBER 2005 QUARTER ENDED QUARTER ENDED 31 Dec 2005 31 Dec 2004 Notes K' million K' million Turnover 1 27,020 31,702 Cost of Turnover 2 (37,076) (42,293) Operating profit/ (10,056) (10,591) (loss) Other income 10,716 10,681 Consideration for dilution in KCM - 80,640 Loss on dilution in - (88,840) KCM Exchange gain/(loss) 178,710 23,023 Environmental (4,767) (5,238) expenses Interest charge (471) (65) Interest income 3,662 338 Dividend 854 5,163 receivable Royalty on (330) (435) minerals Profit/(loss) before taxation 178,318 14,676 Income tax 41 (2,135) Retained profit/ 178,359 12,541 (loss) Notes: 1 Represents Turnover for the Company and its subsidiaries. 2 Represents Cost of Turnover, which includes Administrative costs, for the Company and its subsidiaries. 3 The exchange rates applied are : 30 Dec 2005 US$ = K3538 30 Sept 2005 US$ = K4492 30 Dec 2004 US$ = K4,801 ZCCM INVESTMENTS HOLDINGS PLC GROUP BALANCE SHEET As at 31 Dec 2005 As at 31 Dec 2004 K' million K' million Current assets Bank & cash 67,254 74,882 Inventories 26,451 15,232 Other debtors 379,906 307,375 -------------- --------------- Total current assets 473,611 397,489 Current liabilities Creditors (44,094) (43,329) Provisions (330,432) (297,041) Taxation (3,154) (4,625) Total current liabilities (377,680) (344,995) Net current assets/(liabilities) 95,931 52,494 Long term receivables 47,180 161,965 Investments 368,662 361,495 Fixed assets 134,464 88,279 Long term borrowings (999,257) (1,352,839) Grants/others 0 (14,074) Subordinated loan (865,445) (865,445) -------------- --------------- Total Net Liabilities (1,218,465) (1,568,124) -------------- --------------- Financed by: Share capital 913 909 Grant Reserve 3,038 Reserves (1,222,416) (1,569,033) -------------- --------------- Total shareholders' funds (1,218,465) (1,568,124) -------------- --------------- ZCCM INVESTMENTS HOLDINGS PLC GROUP CASH FLOW STATEMENT Quarter ended Quarter ended 31 Dec '05 31 Dec '04 K' million K' million Operating activities Cash received from customers 10,758 12,174 Cash paid to suppliers and employees (32,429) (14,809) --------- ------------ Net cash generated from operating activities (21,671) (2,635) Interest received and other operting income 5,846 6,918 Interest paid (402) (65) Taxation paid (1,768) (1,396) --------- ------------ 3,676 5,457 Net cashflow from operating activities (17,995) 2,822 Investing activities Purchase of fixed assets (15,582) (5,313) (15,582) (5,313) Financing activities Long term borrowings received 0 9,522 Long term borrowing and Dividends paid (374) (454) Grants 15,925 - --------- ------------ Net cashflow from investing activities 15,551 9,068 Dividend received 854 5,163 --------- ------------ 16,405 14,231 Net cash inflow/(outflow) for period (17,172) 11,740 --------- Cash balances at start of period Cash and bank balances 84,427 63,143 --------- ------------ 84,427 63,143 Cash balances at end of period Cash and bank balances 67,255 74,883 --------- ------------ 67,255 74,883 CORPORATE LOCATIONS Registered office Kitwe office Mukuba Pension House Investments House First Floor Kantanta Street 5309 Dedan Kimathi Road P O Box 20172 P O Box 30048 KITWE LUSAKA Lusaka, 10101, Zambia Tel Numbers Technical 260 (02) 245018 Tel Numbers 260 (01) 221023 Environment 245054 220351 Legal 245126 220654 Property 245142 228833 Fax Numbers 260(01) 221057 Fax Numbers 260(02) 222638 220449 222639 220727 222640 E-mail:corporate@zccm-ih.com.zm E-mail:corporate@zccm-ih.com.zm UK Registrars CAPITAL IRG Plc Depository for American Shares Bourne House 34 Beckenham Road JP Morgan Chase & Co Beckenham 60 Wall STreet Kent BR3TU New York, NY 10260-0060 England United States of America Tel No. 020 8639 2000 Tel No. 001 212 648 3207 Fax No. 020 8658 3430 Fax No. 001 212 648 5104/5 This information is provided by RNS The company news service from the London Stock Exchange

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