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BUA CEMENT PLC

(BUACEMENT)
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End-of-day quote Nigerian Stock Exchange  -  05-26
74.25 NGN    0.00%
04/22BUA Cement Plc Reports Earnings Results for the First Quarter Ended March 31, 2022
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04/22BUA CEMENT : Quarter 1 - financial statement for 2022
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04/22BUA CEMENT : Report of board meeting held on 25th april 2022
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BUA Cement : Grow's After Tax Profit By 19.4% to N72.3bn

04/01/2021 | 08:28am EDT

BUA Cement Plc, Nigeria's second largest cement company has recorded increased Profit After Tax, PAT by 19.4 per cent to N72.3 billion for the financial year ended December 31, 2020 as against N60,6 billion in the corresponding period of 2019.

The Company's audited financial result released on the Nigerian Stock Exchange, NSE showed that revenues also grew to N209.4billion in 2020 from N175.5 billion in full year 2019. Return on equity rose by 1.5 per cent to 19.6 per cent from 18 per cent in 2019. Other performance indicators showed that operating profit increased by 14.8 per cent to N82 billion from N71.4 billion in 2019, while Earning Before Interest, Tax Depreciation and Amortization, EBITDA grew by 18 per cent to N96.8 billion from N82 billion, as at 2019 with EBITDA margin resilient at 46.2 per cent as against 46.7 per cent in 2019.

Providing valuable insights to the 2020 financial performance alongside the operational activities for the year, Yusuf Binji, Managing Director/CEO of BUA Cement, highlighted the preparedness and positive impact the activation of the Company's Business Continuity Plan had on performance.

He said: "Undeniably, the challenges in 2020 have been unprecedented, given the outbreak of the Coronavirus and the disruption caused across homes, communities and organisations.

Despite its lingering effect, we witnessed the best of humanity - resilience, as individuals and organisations sought for opportunities to support vulnerable communities, with BUA Cement playing a crucial role in cushioning its effect through its donations.

"Supporting this resilient performance was our well instituted contingency plan, which ensured that we remained largely immune to economic disruptions such as: production, supply and distribution shocks resulting from the lock down; the observed shift by investors to alternative investment asset classes; and the low rain fall recorded during the year. More importantly, our product offerings played a vital role, with more customers being increasingly able to appreciate and differentiate how tailored our products are towards meeting their cement requirements, especially in terms of quality and product support, among other features."

He added: "Our performance for the year 2020 witnessed a 13.3 per cent rise in cement dispatched to 5.1mmt, which resulted in a 19.3 per cent rise in revenues to N209.4 billion; along with an 18 per cent rise in EBITDA to N96.8 billion from N82 billion, as at 2019. EBITDA margin remained resilient at 46.2 per cent; nevertheless, we expect margin expansion, resulting from performance growth and efficiency gains."

Vanguard News Nigeria

Copyright Vanguard. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Financials
Sales 2022 296 B 713 M 713 M
Net income 2022 94 212 M 227 M 227 M
Net cash 2022 176 B 425 M 425 M
P/E ratio 2022 26,7x
Yield 2022 3,56%
Capitalization 2 514 B 6 056 M 6 056 M
EV / Sales 2022 7,90x
EV / Sales 2023 6,74x
Nbr of Employees 1 091
Free-Float 58,0%
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 2
Last Close Price 74,25 NGN
Average target price 50,42 NGN
Spread / Average Target -32,1%
EPS Revisions
Managers and Directors
Yusuf Haliru Binji Chief Executive Officer, MD & Director
Jacques Piekarski Chief Financial Officer & Executive Director
Chikezie Ajaero Finance Director
Abdul-Samad Isyaku Rabiu Chairman
Khairat AbdulRazaq-Gwadabe Independent Non-Executive Director
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