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BUA CEMENT PLC

(BUACEMENT)
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End-of-day quote Nigerian Stock Exchange  -  05-19
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, Wartsila Oy Sign 70mw Power Plant Agreement for Sokoto Line Four

01/04/2022 | 03:06am EDT

The BUA Group has signed an agreement with Wartsila OY of Finland for the construction of a 70megawatts dual-fuel power plant for BUA Cement's Sokoto Line four in Sokoto State.

The announcement comes just as BUA recently revealed that it was looking to boost its production capacity in Nigeria over the next three years with new plants in the works.

In addition, a statement yesterday, revealed that this would be the second plant to be constructed by Wartsila for BUA Cement.

The first was the BUA Cement sokoto power plant scheduled to be commissioned alongside the plant in November 2021.

Speaking at the signing ceremony, the Chairman of BUA Cement Plc, Abdul Samad Rabiu, who signed on behalf of the cement producer said BUA Cement would continue to invest strategically in the West African cement industry to enable it to bridge the huge infrastructure and housing deficit.

According to Rabiu, "BUA Cement is happy and pleased with the progress that Wartsila made with the construction of the power plant we initially purchased for our BUA Cement Sokoto Line 3 which we expect will begin commissioning by November alongside the power plant.

"We believe Wartsila will bring the same level of efficiency, technical expertise and professionalism to bear in ensuring that this new power plant for the 3million Mtpa BUA Cement Sokoto Line 4 will be completed on schedule by the end of next year as we look towards bringing BUA's total capacity in its sokoto plant to 8 million metric tonnes by early 2023 and 17million metric tonnes across all its plants by the same time."

On his part, Energy Business Director at Wartsila West Africa, Mark Thiriet, said Wartsila was proud to partner with BUA Group on the BUA Cement Sokoto Line 4 project.

He said Wartsila would bring its technical expertise and globally recognised technology to bear in bringing the project to completion.

BUA Cement Plc is Nigeria's second largest cement company and the largest producer in its north-west, south-south and south-east regions.

BUA Cement operates strategically from Okpella, Edo State and Kalambaina, Sokoto State with its headquarters in Lagos, Nigeria.

Currently the second most capitalised manufacturing company on the Nigerian Exchange Limited (NGX), BUA Cement is committed to quality - a differentiating attribute, driven by its people, innovation, and technology; and positioned to solving West Africa's cement under-capacity while driving economic growth and development.

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

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Financials
Sales 2022 277 B 666 M 666 M
Net income 2022 94 503 M 228 M 228 M
Net Debt 2022 - - -
P/E ratio 2022 26,6x
Yield 2022 3,57%
Capitalization 2 514 B 6 058 M 6 058 M
Capi. / Sales 2022 9,09x
Capi. / Sales 2023 8,25x
Nbr of Employees 1 091
Free-Float 58,0%
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Mean consensus UNDERPERFORM
Number of Analysts 2
Last Close Price 74,25 NGN
Average target price 50,42 NGN
Spread / Average Target -32,1%
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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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