Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,907,077 members, 7,009,208 topics. Date: Wednesday, 10 August 2022 at 08:21 AM

BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion (6957 Views)

MTN Nigeria Revenue Rises To N100 Billion Monthly In 2020 / BUA Cement Releases Financial Results For Q1, 2020, Records N20.1 Billion Profit / Unaudited Financial Results: Union Bank Enters Closed Period Ahead Of Q3 2019 (2) (3) (4)

(1) (2) (Reply) (Go Down)

BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by stephanie11: 4:40pm On Aug 04, 2020
POLITICSNIGERIA.COM

One of Africa’s largest cement producers, BUA Cement, has announced an impressive 2020 half-year results declaring revenues of N101.3billion and a Profit After Tax of N34.82billion representing an increase of 12.7% and 13.74% respectively from the corresponding period in 2019. This was contained in a filing to the Nigerian Stock Exchange.

Speaking on the results, Yusuf Binji, Managing Director of BUA Cement said that the continued impressive performance in 2020 despite the challenging operating environment occasioned by the COVID-19 pandemic, was a pointer to the value and strength of the BUA Cement brand and product offerings as well as a nod to the excellent implementation of the company’s Business Continuity Plan which ensured that BUA Cement was able to withstand the impact of the pandemic in the period under review.

“Our resilient performance continues to showcase the value and strength in our product offering alongside our strategic business model. Our revenues increased by 12.7% to N101.3 billion from the corresponding period in 2019 whilst Operating profits increased by 7.0%, from N38.1 billion in H1’2019 to N40.8 billion in H1’2020. Equally, EBITDA margin improved in this quarter to 48.1% - an improvement from 45.6% in Q1, 2020.”

“In a bid to further drive cost efficiencies and sustainability, we entered into strategic alliances for the supply of Liquefied Natural Gas (LNG) at the Kalambaina, Sokoto State and the management of our mining operations. Given these deliberate and strategic choices amongst other cost management efforts, we continue to combine development and innovation into our offerings and activities.”, Binji added.

On the impact of the pandemic on the business, Binji noted that, “despite the prevailing economic conditions, we are quite optimistic about the future because it affords us not only with the opportunity to further evolve our business model but also provides an opportunity for accelerated development. We will continue to push to new markets aided by a focused distribution strategy”

It should be noted that BUA Cement has also been actively involved in alleviating the impact of the virus on the most vulnerable in society while also supporting the government’s efforts by providing foodstuff, PPEs and medical equipment to host communities amongst others.

I. Financial Highlights

Revenue increases by 12.7% from N89.9 billion in H1’2019 to N101.3 billion, as at H1’2020

EBITDA increases by 5.8% from N44.8 billion in H1’2019 to N47.4 billion, as at H1’2020 (Quarter-on Quarter (q/q), EBITDA margin increases from 45.6% in Q1’2020 to 48.1%, as at Q2’2020)

Operating profit up 7.0%, from N38.1 billion in H1’2019 to N40.8 billion in H1’2020

Profit before Tax (PBT) increases by 9.8% from N35.7 billion, as at H1’2019 to N39.2 billion, as at H1’2020.

Profit after Tax (PAT) up by 13.7%, from N30.61 billion in H1’2019 to N34.8 billion, as at H1’2020,

Earnings Per Share (EPS) increases by 14.4% from N0.90 kobo in H1’2019 to N1.03 Kobo, as at H1’2020

II. Operational Highlights

Cement volume dispatched up 7.9% from 2,282 kt in H1’2019 to 2,463 kt, as at H1’2020; underpinned by growing market acceptance, our COVID business continuity plan and particularly, a business environment not inundated by the Coronavirus pandemic
To boost energy efficiency and reduce energy costs, we entered into strategic alliances for the supply of Liquefied Natural Gas (LNG) for the Kalambaina operations and management of our mining operations

Continued push to ‘new markets’ aided by a focused distribution strategy


Conference call details

BUA Cement Plc will hold a conference call for analysts and investors on 06 August 2020 at 14:00hrs Lagos (09:00hrs New York, 14:00hrs London, 15:00hrs Johannesburg). To pre-register, please click on this Registration link to receive the dial-in details, which includes the passcode.

A copy of the presentation will be made available before the call and can also be downloaded from the Company’s website at http://www.buacement.com/presentations/


About BUA Cement Plc

BUA Cement Plc is Nigeria’s second largest cement company and the largest producer in its North-West, South-South and South-East regions; with a combined installed capacity of 8 mmtpa and with plans underway to increase existing capacity to 11 mmtpa, through the commissioning of a new 3 mmtpa plant by the first half of 2021 in Sokoto State, Nigeria. BUA Cement operates strategically from Okpella, Edo State and Kalambaina, Sokoto State.

BUA Cement Plc is is the third most capitalised company on the floor of the Nigerian Stock Exchange.

BUA Cement is committed to quality - a differentiating attribute, driven by its people, innovation and technology; and positioned to solving Nigeria and Africa’s challenges while driving economic growth and development.
https://politicsnigeria.com/bua-cement-posts-impressive-unaudited-h1-2020-financial-results-revenue-rises-to-n101-3-billion/

2 Likes

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by Patrioticman007(m): 4:58pm On Aug 04, 2020
Its a fact great achievers don't make noise like others.

May the days of great groundnuts pyramids, in Dala kano come back, Aboki amaka.

26 Likes 6 Shares

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by HMZi: 4:58pm On Aug 04, 2020
Shareholders go get mad joy

2 Likes 1 Share

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by wildcatter23(m): 4:58pm On Aug 04, 2020
tongue
Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by Sysdatek: 4:59pm On Aug 04, 2020
Cement biz
When I see how much I have burnt in my construction in last few weeks
I understand


Blood money shocked

11 Likes 1 Share

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by Dshocker(m): 5:00pm On Aug 04, 2020
Aboki keeps using government money to run their business,through the help of our politicians

5 Likes

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by nateDZA(m): 5:00pm On Aug 04, 2020
undecided How merCh is a bag of Sement again??!

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by Topmaike007(m): 5:00pm On Aug 04, 2020
Patrioticman007:
Aboki amaka
news like this dey sweet me at least let Nigeria be moving forward

14 Likes 3 Shares

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by AlabiJ: 5:00pm On Aug 04, 2020
Damn. BUA really dey cash out o, not to talk of Dangote. Cement money na like blood money.

1 Like

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by mamaafrik(m): 5:01pm On Aug 04, 2020
Pardon my ignorance oo, someone should please enlighten me about the LNG gas to be tapped from sokoto that was mentioned in the report.
Is there any network of gas there,shed more light pls

1 Like

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by tunjilomo(m): 5:01pm On Aug 04, 2020
OK. I don't have much to say, but I dedicate this FTC to all nairalanders.
Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by SocialJustice: 5:02pm On Aug 04, 2020
The don
Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by ForeThinker: 5:02pm On Aug 04, 2020
They thrive to win regardless

1 Like

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by GamalNasser: 5:03pm On Aug 04, 2020
Change it to dollar and you will see there was no growth from the previous financial year just a more messed up naira

5 Likes

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by bigdammyj: 5:06pm On Aug 04, 2020
101 B grin grin
Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by bigdammyj: 5:08pm On Aug 04, 2020
grin
tunjilomo:
OK. I don't have much to say, but I dedicate this FTC to all nairalanders.

Stop using glo 2g

2 Likes

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by newharddrives(m): 5:12pm On Aug 04, 2020
Ok
Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by jericco1(m): 5:16pm On Aug 04, 2020
That's massive what could be the reason undecided
Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by SmartPolician: 5:24pm On Aug 04, 2020
After tax revenue?

Jeez!

These are the people running the real sector of Nigeria's economy

1 Like

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by Allsome: 5:33pm On Aug 04, 2020
GamalNasser:
Change it to dollar and you will see there was no growth from the previous financial year just a more messed up naira

Another angle o. You know people don't understand that when price commodities like that of cement increase, it's just so the companies can sustain their dollar demands.
Nonetheless, local shareholders will profit from the naira gain though.

4 Likes

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by ecolime(m): 5:41pm On Aug 04, 2020
Impressive

BUA dey burst my brain always.

1 Like

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by tunjilomo(m): 5:43pm On Aug 04, 2020
bigdammyj:
grin

Stop using glo 2g

grin grin grin
Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by Worldbest281: 5:44pm On Aug 04, 2020
I like BUA

2 Likes

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by Tkester: 5:45pm On Aug 04, 2020
First good news from aboki.

1 Like

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by Arrewa: 5:49pm On Aug 04, 2020
Hausafulani Amaka!!

2 Likes

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by Nobody: 5:50pm On Aug 04, 2020
Impressive!!!

1 Like

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by hmohammed(m): 5:58pm On Aug 04, 2020
GamalNasser:
Change it to dollar and you will see there was no growth from the previous financial year just a more messed up naira

I hope Nigerias success will not kill you smiley

3 Likes

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by GamalNasser: 6:03pm On Aug 04, 2020
hmohammed:


I hope Nigerias success will not kill you smiley

Nigeria can never succeed with Buhari on that seat
Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by Brunosamel(m): 6:04pm On Aug 04, 2020
Nigeria is a dead nation, how can a company registered by cama report financial statements with auditing, Nigeria is really messed up, you can't try this type of thing abroad.... useless government!
Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by Pentagon007: 6:26pm On Aug 04, 2020
Ibeto nwanne, Biko When are you coming onbaord?
Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by lastempero: 6:33pm On Aug 04, 2020
People wey sabi.

2 Likes

Re: BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion by OlujobaSamuel: 6:52pm On Aug 04, 2020
Brunosamel:
Nigeria is a dead nation, how can a company registered by cama report financial statements with auditing, Nigeria is really messed up, you can't try this type of thing abroad.... useless government!
It is not new nor illegal, either in Nigeria or the *saner clime*. Unaudited financial statements is a norm in financial reporting

(1) (2) (Reply)

NSE Market Downturn: How Have You Been Affected? / How Can I Earn Legit Free Bitcoin / UBA Wins “the Best In Digital Banking” At Interswitch Awards

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2022 Oluwaseun Osewa. All rights reserved. See How To Advertise. 88
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.