₦airaland Forum

KarlTom:
ARADEL. ±
CONOIL. ±
ETERNA. -0.91%
OandO. -1.10%
SEPLAT. ±

robobo:
My own na btw N500 -N1000 after the book is cleaned (1. negative equity cleared 2. Adequate working capital has been raised (so less dependent on bank borrowing) and 3. dividend restored)

Itzlinda:
Cement companies are minting o

mikeapollo:
I think Wale and his team went into upstream business (from downstream filling stations) with little or no experience whatsoever in the sector!
Probably the reason they bought Conoco Phillips at an overvalued price, among other issues.
The inexperience is the biggest challenge and undoing.
It could have been different if he had worked in the upstream sector e.g. in a global oil company like Shell, Chevron etc. before acquiring Unipetrol/Oando or if he had gone into partnership with experienced professionals in the upstream sector.

Itzlinda:
Cement companies are minting o

ogoo4real:
How do you mean

megawealth01:
Otu lule loni

megawealth01:
Otu lule loni

KarlTom:
It's a New Dawn for OandO...

KarlTom:
Seeing the crisp minting by NASCON, I only wish I had directed the DANGSUGAR funds into NASCON.

+10.00% > +9.85% > +9.76%

BabsO2:
This steep valuation is not supported by hydrocarbon reserves valuation.

BabsO2:
This steep valuation is not supported by hydrocarbon reserves valuation.

Mpeace:
I think Dangfoods is around the corner. I have seen some moves in that direction.

Pls do you have an idea about dangsugar rights issue?

BabsO2:
Those invested in Oando gather here.
I have the following NAV valuation based on reserves computed as follows
Company NAV per Share
Oando N429
Seplat N 8,980
Aradel N997

Oando is at a deep discount based on reasons already discussed upandan here. Most especially will its turnaround succeed in view of its debt over load. This NAV of N429 is the value those lending money to Oando see and are taking a good cut of. And the market has discounted it to current price of N39 to reflect its high risk turnaround profile.

As low margin revenues from trading goes down, will management succeed in transforming Oando into
👉 A leaner upstream-focused energy company
👉 With stronger balance sheet
👉 With sustainable free cash flow
👉 With higher reserve monetisation efficiency
And work towards its NAV based on reserves?

mikeapollo:
What valuation do you think is realistic based on hydrocarbon reserves?
Recall they still have more oil resources that could be reclassified as reserves in medium to long term

GeneralDae:
BUA Cement…🔥🔥. See profit na.

robobo:
He go be like film IF/WHEN wale attends to those things i highlighted above.

GeneralDae:
BUA Cement…🔥🔥. See profit na.

KarlTom:
More revenue, near flat CoS, x10 finance income, reduced finance cost, massive exchange gain 🔥🔥

HesInMe:
Revenue: +22%
Cost of sales: +1%
Opex growth: +11%
Even energy costs declined.

Stunning operating leverage amid the economic pain all around. Simply stunning.

Dis life no equal.

https://doclib.ngxgroup.com/Financial_NewsDocs/46724_BUA_CEMENT_PLC-_QUARTER_1_-_FINANCIAL_STATEMENT_FOR_2026_FINANCIAL_STATEMENTS_APRIL_2026.pdf

Shalom428:
Still loads of Oxygen in the tank for Nascon. Zenith , UBA , STANBIC , GTCO are all still undervalued.

Not a buy recommendation.

megawealth01:
CBN should list joor

Sunrisepebble:
I don’t understand how they’ve contained the costs. Is this just price increases they’re enjoying ? No volume growth.
I didn’t see their volumes for last year, but Dangote was similar, costs were flat and they didn’t grow volumes. Only Wapco did

HesInMe:
I'm just as amazed o. Where did you see volume growth info? I know their bulk cement rose sharply, likely pointing to increased infrastructure/large customer sales.

They also "cheated" a little on depreciation, but not enough to tar the results.

Sunrisepebble:
In their presentations and analyst calls for FY25. Bua is the only that didn’t disclose their volumes.
2025 vs 2024
Dangote 17.68mt vs 17.68mt
Lafarge 6.3mt vs 5.8mt

ositadima1:
So because they did not disclose volumes, you assumed volume was stagnant? Higher prices (inflation or pricing power) and higher volume are both legitimate sources of growth. Why do I feel you’re looking for justification to promote Lafarge above these two giants?

BUA’s bulk cement revenue increased from less than a billion to ₦14 billion, while revenue from bagged cement also increased, though not by as much.

Shalom428:
Where is AwesomeJ ? Correct Guy!!!

KarlTom:
NB Q1 '26

https://doclib.ngxgroup.com/Financial_NewsDocs/46727_NIGERIAN_BREWERIES_PLC.-_QUARTER_1_-_FINANCIAL_STATEMENT_FOR_2026_FINANCIAL_STATEMENTS_APRIL_2026.pdf

ositadima1:
So because they did not disclose volumes, you assumed volume was stagnant? Higher prices (inflation or pricing power) and higher volume are both legitimate sources of growth. Why do I feel you’re looking for justification to promote Lafarge above these two giants?

BUA’s bulk cement revenue increased from less than a billion to ₦14 billion, while revenue from bagged cement also increased, though not by as much.