Cimerwa reports revenue increase in FY19-20

Rwanda’s Cimerwa has seen its revenue increase one per cent YoY to RWF63bn (US$63.79m) in the financial year ended September 2020. Profit after tax reached RWF1.9bn, while EBITDA was at RWF1.95bn for the FY19-20.

During the year, Cimerwa produced and sold 421,000t of cement, an improvement on the previous fiscal despite a 40-day shutdown on cement production due to the effects of COVID-19.

"There has been an increased demand from a number of large infrastructure projects, such as the classroom project, Kigali Road Network expansion, real estate projects among others. There has been a lot of drive to achieve the urbanisation targets, which has driven up demand for cement and resulted in a better performance for us," said John Bugunya, CFO.