Cement News tagged under: Nigeria
Dangote's 1H20 results see 2% revenue growth27 July 2020, Published under Cement NewsDangote Cement reported group revenue up two per cent to NGN476.9bn (US$1.23bn) in the 1H20. Group EBITDA rose to NGN218.1bn and pan-African EBITDA increased by 31.6 per cent to NGN31.5bn. Profit before tax was up 4.7 per cent to NGN162.9bn and net debt stood at NGN372.1bn at the end of 30 June 2020. Michel Puchercos, Group CEO, said: "I am humbled by the fact that we continue to be in a strong position despite the economic downturn that the world is facing due to COVID-19. Although April ... |
BUA Cement plans new 3Mta plant in Adamawa06 July 2020, Published under Cement NewsNigeria’s BUA Cement has announced that it is planning to establish a 3Mta cement facility and 50MW power plant in the Guyuk and Lamurde areas of Adamawa state. While visiting the state governor, Abdul Samad Rabiu, chairman of BUA Cement, reportedly referenced preliminary findings which show that the two areas have good quality limestone deposits and said the company is ready to begin investment in the state. Mr Rabiu noted that the Guyuk plant would be a major investment into the northea... |
Dangote Cement starts Senegal exports and sets new target15 June 2020, Published under Cement NewsNigeria’s Dangote Cement exported its first shipment of clinker to Senegal during the weekend. The 27,800t shipment set off from the company’s terminal in Apapa Port, Lagos. "This vessel, being the maiden ship is exporting 27,800t to Senegal and this is just a tip of the iceberg as to what we have in plan. What we have in plan is to send clinker from Nigeria to Côte d'Ivoire, Cameroon and Ghana," said Alhaji Sada Ladan-Baki, group executive director. Mr Ladan-Baki also noted that the com... |
Final acceptance certificate issued for Edo Cement second line09 June 2020, Published under Cement NewsOn 4 June, the final acceptance certificate (FAC) was issued from BUA Group to the EPC Contractor CBMI Construction, the core member of Sinoma International, for EDO Cement's second 6000tpd new lin, in Nigeria. The new plant has been under our operation and maintenance since June 2019 with a reliable and high running rate, much to the satisfaction of the client, said CBMI Construction. CBMI is awarded the final acceptance certificate for BUA Cement's second kiln line at the Edo ... |
BUA Cement posts 25.1% rise in revenue08 June 2020, Published under Cement NewsBUA Cement has announced a 25.1 per cent YoY increase in revenue to NGN54bn (US$139.3m) in its financial results for the 1Q20. Profit before tax increased by 15.7 per cent YoY from NGN17.4bn to NGN20.1bn in the 1Q20, while profit after tax reached NGN19.8bn – a 26.2 per cent YoY increase from NGN15.7bn. Discussing the results, Yusuf Binji, Managing Director/CEO of BUA Cement, said the excellent performance in the 1Q financial results amid the outbreak of the COVID-19 pandemic is yet anothe... |
FLSmidth wins kiln alignment order from Dangote Cement03 June 2020, Published under Cement NewsFLSmidth has entered into a frame agreement with the African conglomerate Dangote Industries to provide hot kiln alignment services to 16 Dangote kilns located in Africa. The six-year agreement will see FLSmidth providing hot kiln alignment services to Dangote kilns in Ethiopia, Tanzania, Zambia, the Republic of Congo, South Africa and Nigeria. Nigeria is the largest market covered in the agreement, with three locations comprised of 10 lines. The Hot Kiln Alignment Service agreement is bas... |
Dangote Cement sees 2% advance in 1Q EBITDA26 May 2020, Published under Cement NewsDangote Cement Plc reported a 3.8 per cent YoY increase in group revenue to NGN249.2bn (US$638.2m) for the first quarter of 2020 in its unaudited results for the three months ended 31 March 2020. Group EBITDA edged up 2.2 per cent to NGN114.2bn with an EBITDA margin of 45.8 per cent during this period. Pan-African EBITDA surged 23.4 per cent YoY to NGN14.6bn in the 1Q20, reflecting a 20.9 per cent margin. Profit before tax advanced 11.5 per cent YoY to NGN88.1bn. The company’s net debt stood... |
BUA Cement reports 48% rise in revenue in 201921 May 2020, Published under Cement NewsNigeria’s BUA Cement has reported a 47.5 per cent rise in revenue to NGN175.52bn (US$452.35m) for 2019, compared to NGN119.01bn in the previous year. EBITDA also surged 47.2 per cent YoY to NGN81.99bn from NGN55.7bn, while its EBITDA margin remained flat at 47 per cent. However, profit after tax was down 5.4 per cent YoY to NGN60.61bn in 2019, attributed to an NGN26.76bn tax credit given in 2018. "Going forward, our focus is to further harness the full benefits of the merger while making ... |
Lafarge Africa sees net profit rise 157% in 1Q2020 May 2020, Published under Cement NewsLafarge Africa has reported a 9.8 per cent increase in net sales to NGN63.97bn (US$178.93m) in its unaudited results for the first quarter of 2020, compared to NGN58.02bn in the year-ago period. Net profit surged 156.5 per cent YoY to NGN8.07bn from NGN3.15bn in the 1Q19. "I am proud of the plan Lafarge Africa has implemented to protect the health of our people while supporting our partners and communities. The first quarter results confirm that our turn around initiatives are effective a... |
Lafarge Africa provides NGN500m intervention fund to alleviate COVID-19 challenges07 May 2020, Published under Cement NewsIn 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 ... |