BUA Cement Delivers Record-Breaking N290.9B Q1 Profit, Eyes Sustained Growth

BUA Cement Plc has kicked off 2025 with a resounding financial performance, posting record earnings for the first quarter ended March 31, 2025.

The company reported an 80.5% surge in revenue to N290.9 billion, a significant leap from N161.1 billion in the same period last year, signaling strong market demand and efficient execution.

More impressively, profit before tax rose by a staggering 368.6% to N99.7 billion, compared to N21.3 billion in Q1 2024. Profit after tax followed closely, climbing 351.4% to N81.1 billion from N18 billion year-on-year. This translated into earnings per share of 239.6 kobo, up from 53.6 kobo — a 346.5% increase.

Speaking on the company’s stellar results, Managing Director/CEO Engr. Yusuf Binji expressed satisfaction with the Q1 outcome, attributing it to operational discipline, brand trust, and a relentless focus on quality.

“I am extremely delighted about our first quarter performance which has seen us sustain our continued growth in earnings,” Binji said. “This is evidence of trust, consistent quality, and product delivery, aided by our commitment to excellence. In addition, we achieved further cost improvements through enhanced production efficiency.”

The outlook for the next quarter, according to Binji, remains positive, buoyed by ongoing cost-reduction initiatives and operational streamlining.

Chief Financial Officer Chikezie Ajaero echoed this optimism, describing Q1 2025 as not just strong but also a significant rebound from a modest Q1 performance in 2024.

“Our margins are recovering to acceptable levels, supported by exchange rate stability despite a high-cost operating environment. We remain confident that the measures we have implemented will continue to yield positive outcomes for the Company,” Ajaero stated.

Financial Highlights For Q1 2025:

Revenue: N290.9 billion, up by 80.5% from N161.1 billion in Q1 2024.

Cost of Sales: N152.4 billion, an increase of 31.2% from N116.1 billion in the same period last year.

Operating Profit: N119.0 billion, a significant rise of 255.6% from N33.5 billion in Q1 2024.

Profit Before Tax: N99.7 billion, showing a remarkable growth of 368.6% from N21.3 billion in Q1 2024.

Profit After Tax: N81.1 billion, up by 351.4% from N18 billion in Q1 2024.

Earnings per Share: 239.6 kobo, reflecting an impressive increase of 346.5% from 53.6 kobo in the same quarter of 2024.

Operational Highlights

Commencement of a 700 tonnes-per-day (TPD) regasification plant at the Sokoto Plant to bolster energy efficiency.

Progress on the 3 million metric tonnes per annum (mmtpa) greenfield cement line at Ososo, Edo State remains on schedule.

Deployment of solid fuel at the Obu Plant to support cost and energy optimization.

As BUA Cement accelerates its strategic projects and deepens cost efficiencies, its Q1 performance sets a strong tone for 2025 — reinforcing its position as a leading force in Nigeria’s cement industry and a bellwether of sustained profitability.