Lafarge declares N179.88bn as turnover in Q3’20

Lafarge Africa Plc (WAPCO) in its third quarter report for the period ended 30, September, 2020 declared a turnover of N179.877 billion. This translates to 10.32% growth when compared to the turnover of N163.057 billion in the corresponding period last year.

Profit after tax for the nine months period was N28.196 billion, down by 76.53% from N120.16 billion reported same period in 2019. Earnings per share period under review is N1.75.

At the current share price of N17.9, the P.E ratio of Lafarge Africa is calculated as 10.23x with earnings yield of 9.78%.

Commenting on the Q3’20 result, Mr. Khaled El Dokani, CEO of Lafarge Africa Plc stated: “Our robust results for the first 9 months reflect the strong recovery of the demand in Q3 and the successful implementation of our “HEALTH, COST & CASH” initiatives. Both have delivered considerable improvement in recurring EBIT, net income and free cash flow, despite the impact of the COVID-19 pandemic and Naira devaluation, particularly in Q3.”

The company CEO gave the following outlook for the Cement manufacturing giant:

  • Market demand is expected to remain strong in Q4.
  • Naira devaluation and inflation remain a concern in Q4.
  • The implementation of our “HEALTH, COST & CASH” initiatives would continue to deliver improvement in our performance.
  • We will maintain a healthy balance sheet.

Lafarge Africa Plc, a leading Sub-Saharan Africa building materials company is a subsidiary of LafargeHolcim, a world leader in building materials

Lafarge Africa has the widest footprint in Nigeria with cement operations in the South West (Ewekoro and Sagamu in Ogun State), North East (Ashaka, in Gombe State), South East (Mfamosing, Cross Rivers State) with Ready-Mix operations in Lagos, Abuja and Port Harcourt. Lafarge Africa has a current installed cement production capacity of 10.5Mtpa.

Lafarge Africa leverages its innovative expertise to provide value-added products and services solutions in the building and construction industry in Nigeria.

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