Cement News tagged under: nigeria
Lafarge Africa launches its Ewekoro bagging plant04 May 2023, Published under Cement NewsLafarge Africa ( Holcim group ) has launched a bag manufacturing plant in Ewekoro , Nigeria. The plant features cutting-edge and state-of-the-art machinery and equipment, the first of its kind in the country. With an installed capacity of 105m bags, of which 8.8m will be produced monthly, the plant is designed to handle large-scale production of bags in a safe and efficient manner. In addition, this investment further drives Lafarge Africa’s sustainability agenda as it reduces the CO... |
Dangote Cement volumes fall 14% in 1Q2302 May 2023, Published under Cement NewsDangote Cement has reported a 1.6 per cent YoY decline in group revenue to NGN406.7bn (US$883.2m) in the first quarter of 2023. Group EBITDA over the same period fell 12 per cent to NGN185.7bn, while pan-Africa EBITDA came in at a record NGN31.2bn, up 71 per cent YoY. Group profit after tax advanced by 3.4 per cent YoY to NGN109.5bn, with earnings per share improving by 4.2 per cent to NGN6.44. Group sales volumes fell 13.5 per cent to 6.3Mt, while pan-Africa volumes expanded by 8.9 per ce... |
Lafarge Africa 1Q23 sales up 1.3% YoY02 May 2023, Published under Cement NewsLafarge Africa has reported a 1.3 per cent YoY uptick in net sales to NGN91,821m (US$199.4m) in the opening quarter of 2023. Recurring EBIT over the same period was up 0.8 per cent to NGN22,239m, while the recurring EBIT margin remained steady at 24 per cent. Profit before tax improved by 4.7 per cent YoY to NGN22,481m, but profit after tax saw a 14.9 per cent decline to NGN14,935m. Free cash flow in the 1Q23 came in at NGN4659m, up from a loss of NGN5113m in the same quarter a year ea... |
BUA Cement revenue rises by 9.7% in 3M2328 April 2023, Published under Cement NewsNigerian-based BUA Cement reported a revenue increase of 9.7 per cent to NGN106.9bn (US$232.2m) for the the three-month period ended March 2023 from NGN97bn in 3M22. Operating profit dropped by 9.4 per cent to NGN38.4bn for the 3M22 from NGN42bn in 3M22. Profit before tax fell by 15.6 per cent to NGN35.5bn from NGN42bn in 3M22. |
BUA Cement's revenue increased by 40% in 202209 March 2023, Published under Cement NewsBUA Cement Plc of Nigeria reported that revenue increased by 40.3 per cent or NGN103.7bn (US$22 5.3m) in 2022 to NGN361bn from NGN257.3bn in 2021, given the combination of pricing activities and increased volume dispatched (including added volumes from the new Line 4 in Sokoto). Cement volumes in 2022 totalled 6.27Mt. The company's revenue per tonne increased by 21.2 per cent to NGN57,511/t in 2022 from NGN47,448/t, as at 2021. "This was due to pricing activities during the year," s... |
Dangote Cement opens US$130m commercial paper offer07 March 2023, Published under Cement NewsDangote Cement is currently raising NGN60bn (US$130.7m) through the issuance of commercial paper, under its NGN150bn commercial paper programme, reports The Nigerian Observer. The offer opened on 3 March 2023 and will close on 7 March 2023. The funds raised will be used for working capital requirements and general corporate purposes, the company stated in the offer document. The offer comes in two series - 6 and 7. Series 6 is a 181-day offer with a discount rate of 11.4310 per cent and... |
Lafarge Africa sees net sales improve 27% YoY06 March 2023, Published under Cement NewsLafarge Africa Plc has reported a 27.3 per cent rise in net sales in FY22 to NGN373.2bn (US$812.9m), compared to NGN293.1bn in FY21. Recurring EBIT over the same timeframe advanced by 29.3 per cent to NGN84.2bn with the recurring EBIT margin moving from 22 per cent in FY21 to 23 per cent a year later. Earnings per share over the same period improved by 5.2 per cent from NGN3.17 to NGN3.33. Khaled El Dokani, CEO of Lafarge Africa, commented, “In 2022, we recorded 27.3 per cent and 29.3... |
Dangote Cement's corporate social responsibility work gains recognition03 March 2023, Published under Cement NewsDangote Cement has scooped a number of awards in Zambia and Senegal in recognition of its corporate social responsibility actions. In Senegal the Conseil National du Patronat (CNP) acknowledged the cement producer's local subsidiary for planting hundreds of trees to mitigate against desert encroachment in various parts of the country, reports The Day Live. Meanwhile, in Zambia, Dangote’s Ndola subsidiary picked up the Best Community Social Impact Award for Youth Development in recog... |
Dangote Cement’s pan-African operations sales fall 8% in FY2201 March 2023, Published under Cement NewsDangote Cement ’s pan-African operations sold around 10Mt of cement and clinker in 2022, down 8.1 per cent from the 10.9Mt sold in 2021. “This is due to the continuous global supply chain disruption and increasing commodity prices,” said Dangote Cement. Pan-African revenues of NGN414.8bn (US$900.8m) were 4.4 per cent higher than 2021. The region’s revenue accounted for 25.6 per cent of total group revenue. Pan-Africa EBITDA was NGN64.9bn (before central costs and eliminations), down 26.9 p... |
Dangote Group posts 17% revenue rise in FY2228 February 2023, Published under Cement NewsDangote Cement Group announced revenues us 17 per cent to NGN1618.3bn (US$3.51m) in FY22 and EBITDA up 3.5 per cent at NGN708.2bn. Profit after tax increased by 4.9 per cent to NGN382.3bn. Net debt at the end of the period totalled NGN422.8bn with a net gearing of 39.2 per cent. Nigerian operations sold 17.8Mt of cement and clinker during the period, down 4.1 per cent from the 18.6Mt sold in 2021. When looking at the domestic sales alone, Nigerian operations sold 17Mt, down 3.8 per cent Y... |