Cement News tagged under: Lafarge Africa Plc

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Lafarge Africa Plc announces 1H21 group revenues of NGN145m

18 August 2021, Published under Cement News

Lafarge Africa PLC (Holcim group) announced 1H21 group revenue of NGN145m (US$351.9m) with gross profits of NGN48m. In the 2Q21, group revenue reached NGN73.5m and gross profits amounted to NGN28.9m. Group cement sales totalled NGN71.5m in the 2Q21 and NGN141.4m in the 1H21. Meanwhile, Aggregates and concrete sales amounted to NGN2m in the 2Q21 and NGN145m in the 1H21. Lafarge Africa Plc has a cement production capacity of 10.5Mta in Nigeria.

Lafarge Africa provides NGN500m intervention fund to alleviate COVID-19 challenges

07 May 2020, Published under Cement News

In response to the COVID-19 pandemic, Lafarge Africa (LafargeHolcim group) has deployed a NGN500m (US$1.28m) intervention fund to provide medical infrastructure, food and essential medications to its host communities. During the first phase of the intervention launched on the 6 April 2020, the company converted two of its facilities in Sagamu and Ashaka to be used as isolation centres, and also provided infrastructure support such as generators, ambulances and critical personal protection ...

Lafarge Africa PLC returns to profit in 2019

16 April 2020, Published under Cement News

Lafarge Africa PLC has reported revenues of NGN213bn (US$551.5m) for the year ended 31 December 2019 as against NGN218bn in 2018. Operating expenses fell from NGN29.89m to NGN23.42m. Financing costs also declined from NGN41.6bn to NGN20.2bn. The company ended 2019 with a profit after tax of NGN15.5bn compared with a loss of NGN8.1m in 2018. Lafarge Africa also reduced its debt from NGN208bn in 2018 to NGN52.6bn in 2019, while total equity jumped from NGN135bn to NGN345bn in 2019. Speak...

Lafarge Africa Plc orders Loesche coal mill

03 September 2018, Published under Cement News

Lafarge Africa Plc  (LafargeHolcim) is erecting a new Loesche coal mill at its Ewekoro cement plant in Nigeria. The new mill will grind local lignite and petcoke. The mill has a grinding capacity of 23tph at 23 per cent R90μm for coal and 16tph at three per cent R90μm. The scope of services include engineering, core mill components and the classifier with central feed, rotary gate and the mill gearbox with a nominal power of 450kW.

Two Nigerian producers to raise capital funding of NGN250bn

31 August 2018, Published under Cement News

Nigerian cement producers Dangote Cement Plc and Lafarge Africa Cement Plc have launched new capital raisers which are scheduled to conclude in 4Q18. Dangote Cement is raising NGN150bn (US$413.8m) in debt capital and has already obtained NGN50bn of this new debt capital. According to the company, the net proceeds will be used to finance capital expenditure, working capital and corporate purposes. Meanwhile, Lafarge Africa's shareholders have approved a resolution to raise more than NGN...

Lafarge Africa plans to cut debt over the next 18 months

25 May 2018, Published under Cement News

Lafarge Africa Plc plans to cut debt over the next two years as it seeks to boost profit before resuming expansion, according to the company’s chairman, Mobolaji Balogun. The company expects its leverage ratio to fall from over 100 per cent to between 60-70 per cent over the next 18 months, according to Bloomberg. "As soon as the debt becomes more comfortable, we don’t sit there, we will put the foot down on the next round of expansion," said Mr Balogun. The company’s total debt has droppe...

Lafarge Africa announces NGN34.3bn loss in 2017

17 May 2018, Published under Cement News

Mobolaji Balogun, Chairman of Lafarge Africa Plc, on Wednesday said the overall drop in domestic cement demand was instrumental to the group’s NGN34.3bn (US$95.1m) loss before tax in the 2017 financial year. Mr Balogun said the cement volumes sold in 2017 were lower by 15.6 per cent compared with 2016 and, as a result, operating profit plummeted to NGN7.9bn, as against NGN12.4bn the previous year. "Cement selling prices recovered in 2017 which helped to partly offset the impact on cost of ...

Lafarge Africa records sales increase in 2017

11 April 2018, Published under Cement News

A NGN33bn (US$105m) write-down on Lafarge Africa’s operations in South Africa and Nigeria resulted in a wider loss for 2017, according to Reuters. The one-off impairment charge resulted in a pretax loss of NGN34.03bn, a 32.9 per cent fall from the loss of the previous year. However, the company’s chief financial officer, Bruno Bayet, said that he expected 2018 to bring growth and that Lafarge Africa’s sales rose 36 per cent last year. "The operations in Nigeria are still very robust and w...

Lafarge Africa shareholders approve rights issue

12 June 2017, Published under Cement News

Shareholders of Lafarge Africa Plc on Wednesday approved a proposal to raise NGN140bn (US$442m) in new capital for the cement group, local media have reported. The new capital raising will be undertaken through a rights issue, issuance of pre-allotted shares to existing shareholders in proportionate to their shareholdings. At the company's AGM in Lagos, shareholders mandated the board of directors to raise up to NGN140bn with a general provision that allows the company to convert its i...

Adebajo resigns as executive director of Lafarge Africa Plc

11 April 2017, Published under Cement News

Adepeju Adebajo has resigned as an executive director of Lafarge Africa Plc, the company's board of directors announced. Prior to her resignation, Mrs Adebajo was managing director, Wapco Operations and then managing director, Geo-Cycle & Project Management Office at Lafarge Africa Plc. Mrs Adebajo resigned upon her appointment as the Honourable Commissioner for Agriculture in Ogun State. The Board and Management congratulated Mrs Adebajo on her new appointment and call to service and ...