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    JBERGER   NGJBERGER009

JULIUS BERGER NIGERIA PLC

(JBERGER)
  Report
End-of-day quote. End-of-day quote Nigerian Stock Exchange - 08/02
24.5 NGN   +8.89%
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Julius Berger Nigeria : Annual Reports 2020

04/19/2021 | 06:00pm EDT

Julius Berger Nigeria Plc AR & CFS 2020 | Contents

CONTENTS

Highlights

Vision Statement

2

Corporate Information

3

Corporate Profile

4

Results at a Glance

5

Notice of Annual General Meeting

7

Notes

8

Chairman's Statement

11

Board of Directors

15

Directors' Profiles

17

Reports to Shareholders

Directors' Report

21

Corporate Governance Report

31

Sustainability Report

39

Health, Safety and Environment Report

42

Risk Management Report

43

Financial Information

Statement of Directors' Responsibilities

47

Certification of Financial Statements

48

Report of the Statutory Audit Committee

49

Report of the Independent Auditors

50

Statement of Financial Position

53

Statement of Profit or Loss and

55

Other Comprehensive Income

Statement of Changes in Equity

57

Statement of Cash Flows

59

Notes to the Financial Statements

General Information

63

Application of IFRS Standards

64

Significant Accounting Policies

69

Explanatory Notes

90

Additional Information

Statement of Value Added

137

Five-Year Financial Summary

139

Share Capital History

141

Staff Strength

142

Shareholder Information

143

Policies

Group Policy on Severance Pay

148

for Non-Executive Directors

Code of Business Conduct and Ethics

149

for Directors and Management

Julius Berger Nigeria Plc AR & CFS 2020 | Vision Statement

At Julius Berger Nigeria Plc, our vision is to be Nigeria's most dynamic construction company.

We seize opportunities for both our Company and the country.

We work with dedication to maintain our clients' trust. We operate with a holistic approach and a solutions-

driven mindset.

We seek efficient methods to deliver on our clients' requisitions.

We integrate our multiple resources, including specialized personnel or production and service facilities, to achieve the best results.

1

20

Julius Berger Nigeria Plc AR & CFS 2020 | Corporate Information

CORPORATE INFORMATION

Julius Berger Nigeria Plc AR & CFS 2020 | Corporate Profile

CORPORATE PROFILE

Directors

  • Mr. Mutiu Sunmonu, CON, Chairman
  • Mr. George Marks (German),

Vice-Chairman

  • Engr. Jafaru Damulak
  • Dr. Ernest Nnaemeka Azudialu-Obiejesi
  • Mrs. Belinda Ajoke Disu, CAL
  • Mrs. Gladys Olubusola Talabi
  • Engr. Goni Musa Sheikh
  • Mr. Ernest Chukwudi Ebi, MFR, FCIB, FIOD, Independent Non-Executive Director
  • Mr. Karsten Hensel (German)
  • Engr. Dr. Lars Richter (German), Managing Director
  • Alhaji Zubairu Ibrahim Bayi, Director Administration
  • Mr. Martin Brack (German), Financial Director
  • Mr. Tobias Meletschus (German), Director Corporate Development

Company Secretary

Mrs. Cecilia Ekanem Madueke

Registration Number

6852

Registered Office

10 Shettima A. Munguno Crescent

Utako 900 108

FCT Abuja

Auditors

Nexia Agbo Abel & Co.

Chartered Accountants

43 Anthony Enahoro Street

Utako 900 108

FCT Abuja

Registrars

Greenwich Registrars & Data Solutions Ltd.

274 Murtala Muhammed Way

Ebute Metta 101 212

Lagos

Bankers

  • Access Bank Plc
  • Ecobank Plc
  • First Bank of Nigeria Ltd.
  • First City Monument Bank Plc
  • Guaranty Trust Bank Plc
  • Standard Chartered bank Nigeria Ltd.
  • Union Bank of Nigeria Plc
  • United Bank for Africa Plc
  • Zenith Bank Plc

Julius Berger Nigeria Plc (Company) is a leading Nigerian company offering holistic services covering the planning, design, engineering, construction, operation and maintenance of buildings, infrastructure and industry projects in Nigeria. Since its pioneer project in 1965, Julius Berger Nigeria Plc has played a pivotal role in the development of Nigeria's industrial and civil infrastructure. The Company specialises in executing complex works requiring the highest level of technical expertise and Nigeria-specific knowhow.

State-of-the-art methods and technologies ensure that quality and innovation are prioritised for the benefit of clients. Subsidiaries and additional facilities make it possible to realise multifaceted projects at the highest level of performance. This structure allows Julius Berger Nigeria Plc to effectively manage and fulfil construction projects, starting from the initial idea, through to planning, design, engineering, construction, operation and maintenance.

Subsidiaries of the Company are: Julius Berger International GmbH, in Germany, a key provider of planning, design and engineering, in addition to logistical support for businesses in Nigeria; Julius Berger Services Nigeria Ltd., a multipurpose terminal operator at the Warri Port, which contributes to efficient operations; Julius Berger Medical Services Ltd., a medical service provider to Julius Berger Nigeria Plc and its subsidiaries (Group); Julius Berger Free Zone Enterprise, which facilitates opportunities to participate in projects within the Free Trade Zones across Nigeria; Abumet Nigeria Ltd., a leading aluminium and glass solutions provider in

Nigeria, which strengthens the Group's ability to provide turnkey building solutions; PrimeTech Design and Engineering Nigeria Ltd., which houses the Group's design and engineering resources in Nigeria.

Julius Berger Nigeria Plc together with its subsidiaries, is guided by a value system, which has, over time, defined and differentiated its business, thereby setting a benchmark in the Nigerian construction industry. The Group's competitive edge is solidified through adherence to internationally specified standards and through its focus on efficient, value-driven project planning and execution. Unwavering reliability, unmatched expertise as well as strong supply chains provide particular assurance and guarantee project success.

3

4

Julius Berger Nigeria Plc AR & CFS 2020 | Results at a Glance

RESULTS AT A GLANCE

Revenue and Profit/(Loss) Before Tax

₦ billion

2016

2017

2018

2019

2020

Revenue Group

138,994

141,890

194,618

266,430

241,779

Revenue Company

119,813

125,778

170,327

243,489

235,206

PBT Group

(1,498)

3,739

10,198

13,919

3,857

PBT Company

(1,239)

1,158

6,631

10,080

8,075

Dividend per Share

Earnings per Share

2016 2017 2018 2019 2020

2016

2017

2018

2019

2020

Julius Berger Nigeria Plc AR & CFS 2020 | Results at a Glance

Group

Group

Change

Company

Company

Change

2020

2019

2020

2019

₦ 000

₦ 000

%

₦ 000

₦ 000

%

Revenue

241,779,455

266,430,227

(9.25)

235,206,675

243,488,979

(3.40)

Profit before taxation

3,856,642

13,918,812

(72.29)

8,075,009

10,079,724

(19.89)

Profit for

the year

1,236,273

8,759,535

(85.89)

5,645,210

6,566,806

(14.03)

Other comprehensive

6,049,415

(1,201,433)

603.52

(635,012)

(243,558)

(160.72)

income

Total Comprehensive

7,285,688

7,558,102

(3.60)

5,010,198

6,323,248

(20.77)

Income

Non-controlling

3,838

3,748

2.40

-

-

-

interest

Profit attributable to

equity holders of the

7,281,850

7,554,354

(3.61)

5,010,198

6,323,248

(20.77)

parent

Retained earnings

27,683,487

29,882,143

(7.36)

21,546,928

19,308,730

11.59

Share capital

792,000

660,000

20.00

792,000

660,000

20.00

Shareholders' funds

44,947,602

40,327,992

11.46

22,764,368

20,394,170

11.62

Per share data

Group

Group

Change

Company

Company

Change

2020

2019

2020

2019

%

%

Earnings per share

Basic

4.60

5.72

(19.67)

3.16

4.79

(33.79)

Diluted

4.55

4.72

(3.61)

3.13

3.95

(20.77)

Net assets per share

Basic

28.38

30.55

(7.12)

14.37

15.45

6.98

Diluted

28.09

25.20

11.46

14.23

12.75

11.62

Stock Exchange quotation

2.00 2.00

1.00

0.40

0.00

Company 0.00 1.00 2.00 2.00 0.40

Group

2.28

3.61

5.30

5.72

4.60

Company

(2.68)

0.34

3.63

4.79

3.16

at December 31

17.80

19.90

(10.55)

17.80

19.90

(10.55)

Number of employee

12,221

11,449

6.74

11,354

10,249

10.78

5

6

Disclaimer

Julius Berger Nigeria plc published this content on 20 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2021 07:41:48 UTC.


ę Publicnow 2021
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Financials
Sales 2021 274 B 667 M 667 M
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 11,1%
Capitalization 39 200 M 95,3 M 95,4 M
Capi. / Sales 2021 0,14x
Capi. / Sales 2022 0,13x
Nbr of Employees 12 221
Free-Float 4,46%
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Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 1
Last Close Price 24,50 NGN
Average target price 37,99 NGN
Spread / Average Target 55,0%
Managers and Directors
Lars Richter Managing Director & Director
Martin Brack Financial Director & Director
Mutiu Sunmonu Chairman
Zubairu Ibrahim Bayi Executive Director & Administration Director
Karsten Hansel Independent Non-Executive Director
Sector and Competitors