Cement News tagged under: Nigeria
Dangote Cement records robust EBITDA growth in 1Q2103 May 2021, Published under Cement NewsDangote Cement Plc announced group revenues of NGN332.7bn (US$874.4m) in the 1Q21, up 33.5 per cent. Group EBITDA rose by 55.8 per cent to NGN178bn, while Pan-African EBITDA reached NGN23.7bn, an increase of 61.9 per cent. Profits after tax increased by 48.1 per cent to NGN89.7bn. Dangote Cement's group sales volumes rose by 18.7 per cent to 7.5Mt and Nigerian volumes increased by 22.2 per cent to 4.9Mt. Pan African volume growth saw double-digit growth of 12.8 per cent. "The first ... |
Former Blue Circle director passes away15 April 2021, Published under Cement NewsAnthony J Jackson, a former director of UK-based cement multinational Blue Circle Industries PLC, sadly passed away on 29 March at the age of 87. Mr Jackson was previously the CEO of Blue Circle’s Nigerian operations, following earlier responsibilities in the UK and Australia. He was later also responsible for the Far East segment and involved in operations in Malaysia, Singapore and Indonesia. He went on to become the CEO of Blue Circle Enterprises in the UK, responsible for all non-cement... |
Dangote defends Nigerian cement prices13 April 2021, Published under Cement NewsDangote Group’s Executive Director, Devakumar Edwin, has confirmed that its ex-factory price for bagged cement in Nigeria is between NGN2450 (US$6.43) in Obajana and Gboko and NGN2510 in Ibese. The clarification has been made amid reports that the company sells cement in Nigeria at higher prices than in its other markets, particularly in Ghana and Zambia, according to Vanguard. While a bag of cement sells for an equivalent of US$5.1 in Nigeria, it sells for US$7.2 in Ghana and US$5.95 in ... |
BUA Cement sees 19% rise in profit01 April 2021, Published under Cement NewsNigeria’s BUA Cement has reported a 19.4 per cent rise in profit after tax to NGN72.3bn (US$189.5m) for 2020, compared to NGN60.6bn in the previous year. Revenue also advanced 19.3 per cent YoY to NGN209.4bn from NGN175.5bn. The company has attributed the positive results to its successful business continuity plan, alongside a growing market acceptance of BUA’s product offerings. |
Lafarge Africa reports 99% growth in FY2031 March 2021, Published under Cement NewsLafarge Africa Plc has declared a 98.8 per cent YoY growth in profit to NGN30.8bn (US$788.7m) for the FY20, compared to NGN15.5bn reported in FY19. The growth is linked to the company's cost optimisation strategy to reduce loss arising from unproductive assets. This move led to the improvement in the company’s recurring EBIT margin from 16 per cent in 2019 to 20 per cent in 2020. Lafarge's revenue expanded by 8.3 per cent YoY to NGN230.6bn, driven by the strong demand for cement... |
Dangote Cement records strong pan-African cement volumes in FY2025 March 2021, Published under Cement NewsDangote Cement's regional performance in FY20 saw its domestic market of Nigeria return volumes of 15.73Mt, a rise of 11.5 per cent on the 14.11Mt recorded in FY19. Cement and clinker sales in Nigeria rose by 14.3 per cent in FY20. The company saw a strong ‘V-shaped’ recovery in cement demand in Nigeria in the 3Q20 with volumes recorded at 4.29Mt for the quarter and this was relatively sustained with strong 4Q20 volumes of 3.91Mt. Dangote reported decreased market disruptions as a result of... |
Dangote Cement Group reports FY20 revenues of NGN1034.2bn24 March 2021, Published under Cement NewsDangote Cement Plc has released its FY20 results, reporting group revenue up 16 per cent to NGN1034.2bn (US$2718.1bn) when compared with FY19. Group EBITDA totalled NGN71.3bn, up 49 per cent on FY19 and pan-African EBITDA reached a record NGN478.1bn. Group gross profit amounted to NGN596,226m, up 16.5 per cent from NGN511,682m in FY19. Net debt at the end of the period stood at NGN337,275m. Michel Puchercos, Group CEO, said: "Despite the impact of the COVID-19 pandemic, 2020 was a reco... |
Dangote Cement confirms appointment of CFO22 March 2021, Published under Cement NewsNigeria’s Dangote Cement has confirmed the appointment of Guillaume Moyen as chief financial officer, with effect from 18 March 2021. Mr Moyen joined Dangote Cement in February 2019 as Group CFO (Operations) and was appointed Acting Group CFO in March 2019. He is in charge of finance and IT and has more than 20 years’ experience in multi-national industrial and services companies, notably operating in emerging markets. |
Kalambaina Cement to launch second line in July08 March 2021, Published under Cement NewsNigeria's Kalambaina Cement (BUA Cement) is set to launch its 3Mta second line in July this year, which is expected to increase supply and stabilise the price of cement, according to the company. The plant, based in Sokoto State, is expected to scale-up cement production after commissioning the new line in order to meet the country’s current and projected demand. |
Lafarge Africa to install baghouse at Ewekoro02 March 2021, Published under Cement NewsNigeria’s Lafarge Africa has committed US$8m to change its current electrostatic precipitator to a baghouse at its Ewekoro plant. As a result, the company is planning to shut down the plant’s kilns for at least six months to make the improvement, according to The Punch. Khaled El-Dokani also noted alternative fuels currently make up 40 per cent of the plant’s fuel mix, while the target is for the company’s plants to be operating on at least 35 per cent by 2023. |