Lafarge Africa Plc

Unaudited Condensed Financial Statements

30 September 2021

Lafarge Africa Plc

Contents

Directors' and Other Corporate Information

3

Consolidated and Separate Statements of Profit or Loss and Other Comprehensive Income

4

Consolidated and Separate Statements of Financial Position

5

Consolidated and Separate Statements of Changes in Equity

6

Consolidated and Separate Statements of Cash Flows

8

Notes to the Consolidated and Separate Financial Statements

9

Lafarge Africa Plc

Directors' and Other Corporate Information

Company registration number

RC 1858

Directors

Mr. Adebode Adefioye

Chairman

Mr. Khaled Abdel Aziz El Dokani (Egyptian)

Group Managing Director/CEO

Mr. Lolu Alade-Akinyemi

Executive Director/CFO

Mrs. Elenda Giwa-Amu

Non-Executive Director

Mrs. Adenike Ogunlesi

Independent Non-Executive Director

Mr. Grant Earnshaw (British)

Non-Executive Director

Mrs. Karine Uzan Mercie (French)

Non-Executive Director

Mr. Marco Licata (Italian)

Non-Executive Director

Mr. Gbenga Oyebode, MFR

Independent Non-Executive Director

Mrs. Oyinkan Adewale

Independent Non-Executive Director

Mrs. Virginie Darbo (French)

Non-Executive Director

Company Secretary

Mrs. Adewunmi Alode

Company Registered Office

Lafarge Africa Plc

27B, Gerrard Road,

Ikoyi,

Lagos

Registrar

Cardinal Stone (Registrars) Limited

[formerly City Securities (Registrars) Limited]

No 358, Herbert Macaulay Road,

Yaba,

Lagos

Independent Auditors

KPMG Professional Services

KPMG Tower,

Bishop Aboyade Cole Street,

Victoria Island,

Lagos

Principal Bankers

Access Bank Plc

Citibank Nigeria Limited

Ecobank Nigeria Limited

First Bank of Nigeria Limited

Guaranty Trust Bank Plc

Standard Chartered Bank Plc

Stanbic IBTC Bank Limited

United Bank for Africa Plc

Wema Bank Plc

Zenith Bank Plc

Union Bank of Nigeria Plc

3

Lafarge Africa Plc

Consolidated and Separate Statements of Profit or Loss and Other Comprehensive Income for the period ended 30 September, 2021

Group

Company

3months ended

3months ended

9months ended

9months ended

3months ended

3months ended

9months ended

9months ended

30/09/2021

30/09/2020

30/09/2021

30/09/2020

30/09/2021

30/09/2020

30/09/2021

30/09/2020

Notes

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

Revenue

3

74,181,632

59,337,096

219,197,595

179,877,441

66,477,828

53,380,502

196,496,352

158,912,864

Cost of sales

4

(58,311,880)

(45,320,285)

(155,241,958)

(123,541,523)

(51,730,211)

(39,300,994)

(135,656,147)

(105,055,468)

Gross profit

15,869,752

14,016,811

63,955,637

56,335,918

14,747,617

14,079,508

60,840,205

53,857,396

Selling and marketing expenses

5

(1,067,280)

(1,261,101)

(2,520,698)

(2,810,657)

(1,067,280)

(1,261,101)

(2,520,698)

(2,810,474)

Administrative expenses

6

(5,107,355)

(4,753,772)

(14,277,502)

(13,193,038)

(4,914,823)

(4,562,955)

(13,711,257)

(12,962,150)

Other income

7

202,419

256,435

495,803

810,470

52,595

217,182

205,299

771,217

Impairment reversal on receivables

8.1

22,203

28,487

499,256

9,172

23,198

28,020

499,184

7,112

Other operating income/(expenses)

8

-

14,827

(13,970)

(41,026)

-

(41,026)

(13,970)

(41,026)

Operating profit

9,919,739

8,301,687

48,138,526

41,110,839

8,841,307

8,459,628

45,298,763

38,822,075

Finance income

9 (a)

206,077

344,393

568,922

721,442

189,872

339,134

540,862

689,275

Finance costs

9 (b)

(2,972,664)

(3,111,914)

(5,633,102)

(7,540,939)

(2,554,738)

(3,128,717)

(4,968,914)

(7,851,960)

Gain on disposal of investment in Joint

22.1

-

-

826,879

-

-

-

826,879

-

venture

Profit before tax

7,153,152

5,534,166

43,901,225

34,291,342

6,476,441

5,670,045

41,697,590

31,659,390

Income tax credit/(expense)

10

4,918,860

(666,936)

(3,506,628)

(6,094,855)

5,573,100

(656,015)

(2,725,458)

(5,117,707)

Profit after tax for the period

12,072,012

4,867,230

40,394,597

28,196,487

12,049,541

5,014,030

38,972,132

26,541,683

Other comprehensive income:

Other comprehensive (loss)/income for

the period, net of tax

-

-

-

-

-

-

-

-

Total comprehensive income for the period

12,072,012

4,867,230

40,394,597

28,196,487

12,049,541

5,014,030

38,972,132

26,541,683

Profit attributable to :

- Owners

12,072,012

4,867,230

40,394,597

28,196,487

12,049,541

5,014,030

38,972,132

26,541,683

- Non-controlling interests

-

-

-

-

-

-

-

-

12,072,012

4,867,230

40,394,597

28,196,487

12,049,541

5,014,030

38,972,132

26,541,683

Total comprehensive income for the period

is attributable to:

- Owners

12,072,012

4,867,230

40,394,597

28,196,487

12,049,541

5,014,030

38,972,132

26,541,683

- Non-controlling interests

-

-

-

-

-

-

-

-

12,072,012

4,867,230

40,394,597

28,196,487

12,049,541

5,014,030

38,972,132

26,541,683

Earnings per share attributable to the

Basic earnings per share (Kobo)

21

75

30

251

175

75

31

242

165

4

Lafarge Africa Plc

Consolidated and Separate Statement of Financial Position as at 30 September, 2021

Group

Company

30 September

31 December

30 September

31 December

2021

2020

2021

2020

Notes

N'000

N'000

N'000

N'000

ASSETS

Non-current assets

Property, plant and equipment

11

342,743,086

348,328,150

280,825,587

287,447,215

Intangible assets

12

1,026,482

1,939,210

821,770

1,524,264

Investments in subsidiaries

13.1

-

-

63,906,867

63,906,867

Investment in joint ventures

-

379,432

-

379,432

Other financial assets

14

-

964,796

-

964,796

Other assets

16

32,038,986

29,127,048

30,203,807

28,657,973

Deferred tax assets

21,477,957

23,404,073

21,477,957

23,404,073

Total non-current assets

397,286,511

404,142,709

397,235,988

406,284,620

Current assets

Inventories

17

39,447,880

31,052,596

26,987,697

22,466,615

Trade and other receivables

18

5,162,783

5,028,913

28,139,057

26,255,784

Other assets

16

15,814,385

11,916,440

15,540,054

8,846,892

Other financial assets

14

151,233

1,731,432

92,333

1,729,090

Derivative assets

-

18,905

-

-

Cash and cash equivalents

19

54,505,201

53,322,980

45,874,024

39,749,715

Total current assets

115,081,482

103,071,266

116,633,165

99,048,096

Total assets

512,367,993

507,213,975

513,869,153

505,332,716

LIABILITIES

Non-current liabilities

Loans and borrowings

23

3,292,756

5,139,600

1,059,337

2,774,394

Employee benefit obligations

26

2,404,805

2,284,688

2,097,460

2,009,182

Deferred income

25

1,432,942

1,683,008

1,151,258

1,234,307

Provisions

24

1,952,590

1,510,577

968,308

817,124

Deferred tax liabilities

9,031,155

9,401,523

-

-

Total non-current liabilities

18,114,248

20,019,396

5,276,363

6,835,007

Current liabilities

Loans and borrowings

23

19,153,579

44,593,230

18,704,899

44,458,963

Deferred income

25

341,209

381,646

110,732

110,732

Trade and other payables

27

85,614,116

76,857,775

89,416,271

76,438,447

Provisions

24

2,919,030

2,644,965

2,645,113

2,405,497

Current tax liabilities

2,300,508

3,078,461

876,506

1,109,137

Total current liabilities

110,328,442

127,556,077

111,753,521

124,522,776

Total liabilities

128,442,690

147,575,473

117,029,884

131,357,783

EQUITY

Share capital

20.1

8,053,899

8,053,899

8,053,899

8,053,899

Share premium

20.2

435,148,731

435,148,731

435,148,731

435,148,731

Retained earnings

194,851,730

170,579,540

147,314,618

124,464,893

Foreign currency translation reserve

-

(14,611)

-

(14,611)

Other reserves arising on business combination and re-

(254,129,057)

(254,129,057)

(193,677,979)

(193,677,979)

organisations

Capital and reserves attributable to owners

383,925,303

359,638,502

396,839,269

373,974,932

Total equity

383,925,303

359,638,502

396,839,269

373,974,932

Total equity and liabilities

512,367,993

507,213,975

513,869,153

505,332,716

These financial statements were approved and authorised for issue by the board of directors on 27th October 2021 and were signed on its behalf by:

Adebode Adefioye

Khaled Abdel Aziz El Dokani

Lolu Alade-Akinyemi

Chairman

Group Managing Director

Chief Financial Officer

FRC/2017/IODN/00000016512

FRC/2020/003/00000020762

FRC/2020/001/00000020157

5

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Lafarge Africa plc published this content on 28 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2021 10:52:07 UTC.