LAGOS, NIGERIA – April 25, 2025 – BUA Cement PLC (NGX: BUACEMENT) has announced remarkable unaudited financial results for the first quarter ended March 31, 2025, demonstrating significant growth across key metrics. The cement giant recorded an impressive 80.5% increase in revenue to N290.9 billion, up from N161.1 billion in Q1 2024. Profit before tax (PBT) witnessed an extraordinary surge of 368.6%, reaching N99.7 billion compared to N21.3 billion in the same period last year. Profit after tax (PAT) also saw substantial growth, increasing by 351.4% to N81.1 billion from N18 billion in Q1 2024.
Engr Yusuf Binji, Managing Director/CEO, attributed this strong performance to “sustained growth in earnings driven by customer trust, consistent product quality and delivery, and a commitment to operational excellence. Our enhanced production efficiency also contributed to significant cost improvements.” He further expressed optimism for the next quarter, anticipating a continuation of this positive trend due to ongoing cost reduction initiatives.
Chief Financial Officer, Chikezie Ajaero, highlighted the results as a “strong recovery” from Q1 2024, noting the improvement in margins supported by exchange rate stability despite a challenging operating environment. He remains confident in the positive impact of implemented measures on the company’s future performance.
Key Financial Highlights (Q1 2025 vs. Q1 2024):
| Metric | N’m (Q1’2025) | N’m (Q1’2024) | % Change |
|---|---|---|---|
| Revenue | 290,821 | 161,131 | 80.5% |
| Cost of Sales | (152,369) | (116,094) | 31.2% |
| Operating Profit | 119,033 | 33,477 | 255.6% |
| Profit Before Tax (PBT) | 99,741 | 21,286 | 368.6% |
| Profit After Tax (PAT) | 81,124 | 17,970 | 351.4% |
| Earnings Per Share (kobo) | 239.6 | 53.6 | 346.5% |
Operational Highlights:
- Ongoing construction of a 700TPD regasification plant at the Sokoto Plant.
- Steady progress on the 3mmtpa greenfield line project in Ososo, Edo State.
- Successful introduction of solid fuel at the Obu Plant for energy and cost optimization.
About BUA Cement Plc:
BUA Cement Plc is Nigeria’s second-largest cement producer, with a current installed capacity of 17 mmtpa and plans to expand to 20 mmtpa with a new plant in Ososo, Edo State. The company operates strategically in key regions and is listed on the Nigerian Exchange Group (NGX). BUA Cement is committed to delivering high-quality products through innovation and technology, contributing to Nigeria’s economic growth.
