Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 6 non-independent directors. Non Executive Director Thembi Mazingi was the last director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to 1.26, the stock trades at a trailing P/E ratio of 28.5x. Average trailing P/E is 10x in the Building industry in Africa. Total returns to shareholders of 9,433% over the past three years. Board Change • Dec 19
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 6 non-independent directors. Non Executive Director Thembi Mazingi was the last director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 10
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 6 non-independent directors. Non Executive Director Thembi Mazingi was the last director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Aug 22
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 6 non-independent directors. Non Executive Director Thembi Mazingi was the last director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 20
Proplastics Limited, Annual General Meeting, Jun 11, 2025 Proplastics Limited, Annual General Meeting, Jun 11, 2025, at 10:00 South Africa Standard Time. Location: at meikles hotel cnr jason, moyo/third street, Zimbabwe Board Change • Apr 22
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 7 non-independent directors. Non Executive Director Thembi Mazingi was the last director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 24
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 7 non-independent directors. Non Executive Director Thembi Mazingi was the last director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 31
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Oct 16
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 0% Cash payout ratio: 0% Dividend yield: 20% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Cash payout ratio: 0% Market cap is less than US$10m (Z$451.8m market cap, or US$1.40m). Reported Earnings • Sep 23
First half 2024 earnings released: EPS: US$0 (vs US$0.002 in 1H 2023) First half 2024 results: EPS: US$0 (down from US$0.002 in 1H 2023). Revenue: US$8.58m (down 18% from 1H 2023). Net loss: US$71.9k (down 113% from profit in 1H 2023). Over the last 3 years on average, earnings per share has fallen by 55% per year whereas the company’s share price has fallen by 58% per year. Buy Or Sell Opportunity • Sep 17
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 219% to Z$2.00. The fair value is estimated to be Z$1.61, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has declined by 9.3%. Valuation Update With 7 Day Price Move • Sep 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to Z$2.33, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 6x in the Building industry in Africa. Total loss to shareholders of 92% over the past three years. Buy Or Sell Opportunity • Aug 01
Now 30% overvalued after recent price rise Over the last 90 days, the stock has risen 267% to Z$2.09. The fair value is estimated to be Z$1.61, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has declined by 9.3%. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment improves as stock rises 45% After last week's 45% share price gain to Z$1.30, the stock trades at a trailing P/E ratio of 2x. Average trailing P/E is 7x in the Building industry in Africa. Total loss to shareholders of 95% over the past three years. Announcement • May 24
Proplastics Limited, Annual General Meeting, Jun 13, 2024 Proplastics Limited, Annual General Meeting, Jun 13, 2024, at 10:00 South Africa Standard Time. Location: at monomotapa hotel, 54 park lane, harare Zimbabwe Board Change • May 01
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. 2 independent directors (6 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: US$0.002 (vs US$0.001 in FY 2022) Full year 2023 results: EPS: US$0.002 (up from US$0.001 in FY 2022). Revenue: US$21.3m (down 41% from FY 2022). Net income: US$519.9k (up 52% from FY 2022). Profit margin: 2.4% (up from 0.9% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 285% per year, which means it is well ahead of earnings. New Risk • Feb 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Zimbabwean stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Sep 25
First half 2023 earnings released: EPS: US$0.002 (vs US$0.003 loss in 1H 2022) First half 2023 results: EPS: US$0.002 (up from US$0.003 loss in 1H 2022). Revenue: US$10.5m (up 23% from 1H 2022). Net income: US$561.3k (up US$1.28m from 1H 2022). Profit margin: 5.4% (up from net loss in 1H 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 346% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 19
Full year 2022 earnings released: EPS: Z$0.42 (vs Z$3.12 in FY 2021) Full year 2022 results: EPS: Z$0.42 (down from Z$3.12 in FY 2021). Revenue: Z$11.7b (up 23% from FY 2021). Net income: Z$110.4m (down 86% from FY 2021). Profit margin: 0.9% (down from 8.4% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 308% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Sep 25
First half 2022 earnings released: Z$1.03 loss per share (vs Z$0.22 profit in 1H 2021) First half 2022 results: Z$1.03 loss per share (down from Z$0.22 profit in 1H 2021). Revenue: Z$3.13b (up 252% from 1H 2021). Net loss: Z$264.8m (down Z$321.4m from profit in 1H 2021). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 222% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment deteriorated over the past week After last week's 28% share price decline to Z$15.95, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 22x in the Building industry in Africa. Total returns to shareholders of 2,704% over the past three years. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment deteriorated over the past week After last week's 16% share price decline to Z$50.64, the stock trades at a trailing P/E ratio of 55.7x. Average trailing P/E is 13x in the Building industry in Africa. Total returns to shareholders of 13,656% over the past three years. Reported Earnings • Jun 11
Full year 2021 earnings released: EPS: Z$0.91 (vs Z$0.52 in FY 2020) Full year 2021 results: EPS: Z$0.91 (up from Z$0.52 in FY 2020). Revenue: Z$2.77b (up 57% from FY 2020). Net income: Z$233.5m (up 74% from FY 2020). Profit margin: 8.4% (up from 7.6% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has increased by 457% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • May 11
Upcoming dividend of Z$0.38 per share Eligible shareholders must have bought the stock before 18 May 2022. Payment date: 24 June 2022. The company last paid an ordinary dividend in March 2016. The average dividend yield among industry peers is 2.2%. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 19% share price gain to Z$32.00, the stock trades at a trailing P/E ratio of 41.4x. Average trailing P/E is 9x in the Building industry in Africa. Total returns to shareholders of 15,952% over the past three years. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improved over the past week After last week's 20% share price gain to Z$33.50, the stock trades at a trailing P/E ratio of 63.5x. Average trailing P/E is 12x in the Building industry in Africa. Total returns to shareholders of 20,182% over the past three years. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improved over the past week After last week's 20% share price gain to Z$30.00, the stock trades at a trailing P/E ratio of 56.9x. Average trailing P/E is 10x in the Building industry in Africa. Total returns to shareholders of 31,378% over the past three years. Reported Earnings • Sep 16
First half 2020 earnings released: Z$0.23 loss per share (vs Z$0.55 loss in 1H 2019) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2020 results: Revenue: Z$404.1m (up 70% from 1H 2019). Net loss: Z$58.1m (loss narrowed 57% from 1H 2019). Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improved over the past week After last week's 33% share price gain to Z$19.90, the stock is trading at a trailing P/E ratio of 64x, up from the previous P/E ratio of 48.2x. This compares to an average P/E of 16x in the Building industry in Africa. Total returns to shareholders over the past three years are 29,406%. Is New 90 Day High Low • Feb 01
New 90-day high: Z$17.25 The company is up 203% from its price of Z$5.70 on 03 November 2020. The Zimbabwean market is up 161% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 13% over the same period. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improved over the past week After last week's 16% share price gain to Z$10.05, the stock is trading at a trailing P/E ratio of 32.3x, up from the previous P/E ratio of 27.8x. This compares to an average P/E of 15x in the Building industry in Africa. Total returns to shareholders over the past three years are 14,644%. Is New 90 Day High Low • Jan 05
New 90-day high: Z$8.61 The company is up 44% from its price of Z$6.00 on 08 October 2020. The Zimbabwean market is up 63% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Building industry, which is up 3.0% over the same period. Valuation Update With 7 Day Price Move • Jan 01
Investor sentiment improved over the past week After last week's 24% share price gain to Z$8.61, the stock is trading at a trailing P/E ratio of 27.7x, up from the previous P/E ratio of 22.3x. This compares to an average P/E of 16x in the Building industry in Africa. Total returns to shareholders over the past three years are 12,498%. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improved over the past week After last week's 20% share price gain to Z$6.95, the stock is trading at a trailing P/E ratio of 22.3x, up from the previous P/E ratio of 18.7x. This compares to an average P/E of 16x in the Building industry in Africa. Total returns to shareholders over the past three years are 10,065%. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 18% share price gain to Z$6.51, the stock is trading at a trailing P/E ratio of 20.9x, up from the previous P/E ratio of 17.8x. This compares to an average P/E of 15x in the Building industry in Africa. Total returns to shareholders over the past three years are 9,426%. Is New 90 Day High Low • Dec 22
New 90-day high: Z$6.51 The company is up 9.0% from its price of Z$6.00 on 23 September 2020. The Zimbabwean market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Building industry, which is up 3.0% over the same period. Valuation Update With 7 Day Price Move • Oct 29
Market bids up stock over the past week After last week's 20% share price gain to Z$5.71, the stock is trading at a trailing P/E ratio of 18.4x, up from the previous P/E ratio of 15.3x. This compares to an average P/E of 18x in the Building industry in Africa. Total returns to shareholders over the past three years are 8,255%. Valuation Update With 7 Day Price Move • Oct 22
Market pulls back on stock over the past week After last week's 21% share price decline to Z$4.76, the stock is trading at a trailing P/E ratio of 15.3x, down from the previous P/E ratio of 19.3x. This compares to an average P/E of 18x in the Building industry in Africa. Total returns to shareholders over the past three years are 6,865%. Is New 90 Day High Low • Oct 01
New 90-day low: Z$5.99 The company is down 14% from its price of Z$7.00 on 26 June 2020. The Zimbabwean market is down 23% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Building industry, which is up 7.0% over the same period.