Cement News tagged under: Nigeria
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. |
BUA Cement sees 19% revenue increase05 February 2021, Published under Cement NewsNigeria’s BUA Cement has seen a 19.3 per cent increase in revenue to NGN209.47bn (US$549.5m) in 2020, compared to NGN175.51bn in the previous year. Operating profit also climbed 15.5 per cent YoY to NGN82.5bn from NGN71.42bn. Profit after tax also rose 16.3 per cent to NGN70.51bn from NGN60.61bn in 2019. |
Rising to the challenge25 January 2021, Published under Cement NewsThe COVID-19 pandemic has changed the way we live and the way we work. CBMI has successfully navigated the impact of the crisis by progressing with construction of the Kalambaina Cement Plant Line 3 project for BUA Group in Nigeria, and continuing operation and maintenance contracts for the producer. By Xintao Zhao, Bao Tian, Xiaolong Li, Ban Ding, CBMI Construction Co, Ltd, China. Kalambaina Cement Plant Line 3 site view, pictured in March 2020 Learning to live and work with co... |
Nigeria: search for new markets19 January 2021, Published under Cement NewsWhile Nigerian cement volumes rose sharply in the 3Q20 amid the COVID-19 pandemic, there is limited room for strong volume and price growth. For the oligopolistic domestic cement industry, competitive pressures are a central theme and cost efficiencies remain key. Given challenges locally, new export opportunities could potentially be opening up. By Afrinvest, Nigeria. For Nigeria’s cement industry, competitive pressures remain important despite the sharp rise in domestic volumes i... |