4th Quarter Results

ZCCM Invs.Hldgs PLC 03 October 2005 ZCCM Investments Holdings Plc Incorporated in the Republic of Zambia Directors' Quarterly Summary incorporating Financial Results for the quarter ended 30 June 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 The Group turnover of K41,465 million was achieved during the quarter ended 30 June 2005 compared to K32,421 million at June 2004. During the quarter, the group recorded operational expenditure of K39,473 million compared to K27,680 million for the corresponding quarter last year. An operating profit of K1,992 million was recorded in the quarter under review, against a profit of K4,741 million in the quarter ended 30 June 2004. There were exchange gains of K5,733 million in the quarter compared to exchange losses of K22,876 million last year. The Kwacha had appreciated from K4,709/US$ as at 31 March to K4,698/US$ at 30 June 2005. The net loss of K24,615 million reported was mainly on account of the K27,760 million provision to Mukuba Pension Scheme. There was an environmental expenditure of K9,882 million compared to K382 million in the quarter to June 2004 due to increased environmental remedial activity. By order of the Board W S Musama Company Secretary Lusaka 29 September 2005 ZCCM INVESTMENTS HOLDINGS PLC GROUP PROFIT AND LOSS ACCOUNT FOR THE QUARTER ENDED 30 JUNE 2005 QUARTER QUARTER ENDED ENDED 30 June 30 June 2005 2004 notes K' million K' million Turnover 1 41,465 32,421 Cost of turnover 2 (39,473) (27,680) Operating profit/ 1,992 4,741 (loss) Other income 4,121 11,703 Exchange gain/ 5,733 (22,876) (loss) Environmental (9,882) (382) expenses - - Interest charge (142) (1) Interest income 1,645 295 Dividend 2,631 - receivable Royalty on (471) (452) minerals Exceptional Item 3 (27,760) - (22,133) (6,972) Income tax (2,482) (1,038) Retained profit/ (24,615) (8,010) (loss) Notes: 1 & 2 Represents revenue/sales and administrative costs/cost of turnover for the Company and its subsidiaries 3 Exceptional item relates to provision for the quarter on Mukuba Pension Scheme. This is part of the Company's portion of the total obligation arising from an actuarial valuation that showed a deficit as at March 2000. 4 The exchange rates applied are: 30 June 2005 US$= K4698 30 June 2004 US$= K4853 31 March 2005 US$= K4709 ZCCM INVESTMENTS HOLDINGS PLC GROUP BALANCE As at 30 June As at 30 June SHEET 2005 2004 K' million K' million Current assets Bank & cash 79,610 47,480 Inventories 22,547 12,784 Other debtors 309,995 321,912 --------------- ---------------- Total current 412,152 382,176 assets Current liabilities Creditors (50,485) (45,240) Provisions (320,776) (287,794) Taxation (4,540) (2,117) Bank overdraft 0 0 --------------- ---------------- Total current (375,801) (335,151) liabilities Net current assets/ 36,351 47,025 (liabilities) Long term 65,464 92,222 receivables Investments 368,662 450,356 Fixed assets 110,133 78,110 Long term (1,266,824) (1,374,327) borrowings Grants/others (28,337) 0 Subordinated loan (865,445) (865,445) --------------- ---------------- Total Net (1,579,996) (1,572,059) Liabilities --------------- ---------------- Financed by: Share capital 909 909 Reserves (1,580,905) (1,572,968) --------------- ---------------- Total shareholders' (1,579,996) (1,572,059) funds --------------- ---------------- ZCCM INVESTMENTS HOLDINGS PLC GROUP CASH FLOW STATEMENT Quarter ended Quarter ended 30 June '05 30 June '04 K' million K' million Operating activities Cash received from customers 9,391 30,989 Cash paid to suppliers and employees (7,288) (47,107) ---------- ---------- Net cash generated from operating activities 2,103 (16,118) Interest received and other operting income 6,932 3,193 Interest paid (220) (45) Taxation paid (2,248) (1,264) ---------- ---------- 4,464 1,884 Net cashflow from operating activities 6,567 (14,234) Investing activities Purchase of fixed assets (8,721) (8,554) Proceeds from sale of fixed assets 0 8 Proceeds from sale of operating units 0 - ---------- ---------- (8,721) (8,546) Financing activities Long term borrowings received 8,563 9,287 Long term borrowing paid (4,702) - Grants 8,923 6,688 ---------- ---------- Net cashflow from investing activities 12,784 15,975 Dividend received 4,200 10,811 ---------- ---------- 16,984 26,786 Net cash inflow/(outflow) for period 14,830 4,006 ---------- ---------- Cash balances at start of period Cash and bank balances 10,725 43,605 ---------- ---------- 10,725 43,474 Cash balances at end of period Cash and bank balances 25,555 47,480 ---------- ---------- 25,555 47,480 CORPORATE LOCATIONS Registerd Office Mukuba Pension House First Floor 5309 Dedan Kimathi Road P O Box 30048 Lusaka Zambia Tel Nos 260 01 221023/220351/220654 Fax Nos 260 01 220727/221057/220449 E-mail:corporate@zccm-ih.com.zm Kitwe Office Investments House Kantanta Street P O Box 20172 Kitwe Zambia Tel 260 02 245018/245054/245142/245126 Fax 260 02 245364/245363/245473 E-mail:corporate@zccm-ih.com.zm UK Registrars CAPITA IRG PLC Bourne House 34 Beckenham Road Beckenham Kent BR3 4TU England Tel No 020 8639 2000 Fax No 020 8658 3430 Depository for American Shares JP Morgan Chase & Co 60 Wall Street New York, NY 10260-0060 United States of America Tel No 001 212 648 3207 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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