Lafarge Africa Plc has revealed its audited monetary report for the nine-month interval ending September 30, 2024, revealing vital development with a pre-tax revenue of N91.5 billion.
This represents a rise from the N61.1 billion recorded throughout the identical interval in 2023, reflecting a year-over-year rise of 49.69%.
The corporate’s post-tax revenue rose by 45.78% to N57.2 billion, whereas income surged by 66.02% to N479.9 billion, with cement gross sales contributing 97% of whole income.
Lafarge additionally reported a notable rise in ‘different earnings,’ which jumped to N2.2 billion from N540.7 million the earlier yr.
Key highlights
- Income: N479.9 billion, +66.02% YoY
- Value of gross sales: N246.5 billion, +74.86% YoY
- Gross revenue: N233.3 billion, +57.60% YoY
- Administrative bills: N29 billion, +57.86% YoY
- Different Earnings: N2.2 billion, +319.84% YoY
- Working earnings: N126.5 billion, +82.55% YoY
- Pre-tax revenue: N91.5 billion, +49.69% YoY
- Publish-tax revenue: N57.2 billion, +45.78% YoY
- Earnings Per Share: N356, +45.90% YoY
- Whole Belongings: N808 billion, +18.59% YoY
Commentary
A overview of Lafarge’s third-quarter 2024 outcomes signifies an enchancment in efficiency, regardless of a rise in each the price of gross sales and administrative bills.
The corporate reported a 66.02% year-over-year income enhance for the primary 9 months, reaching N479.9 billion, in comparison with N289 billion in the identical interval final yr.
- Cement gross sales had been the first driver, accounting for 97% of whole income, whereas aggregates and concrete gross sales contributed 2.67%.
Nevertheless, the price of gross sales rose considerably by 74.86% year-over-year, totaling N246.5 billion, up from N141 billion.
- Manufacturing variable prices comprised 66.34% of this whole
Regardless of the price of gross sales surge, Lafarge recorded a gross revenue enhance of 57.60% year-over-year, amounting to N233.3 billion, up from N148 billion in 2023.
Administrative bills additionally noticed a notable enhance, rising by 57.86% year-over-year to N29 billion, in comparison with N18.4 billion the earlier yr.
- Important parts of those bills had been attributed to workplace and basic prices (32%), salaries and employee-related bills (25%), and technical service charges (27%).
Moreover, the corporate’s ‘different earnings’ elevated to N2.2 billion, up from N540.7 million within the prior yr.
- Authorities Grants constituted 44% of different earnings.
- Positive aspects from Disposal of Property, Plant, and Tools accounted for 41% of different earnings.
Lafarge additionally reported an 82.55% year-over-year enhance in working revenue and a 49.69% rise in pre-tax revenue, reaching N91.5 billion.
Publish-tax revenue elevated by 45.78% year-over-year to N57.2 billion, whereas earnings per share rose by 45.90%, reaching N3.56 in comparison with N2.44 within the prior yr.
Asset efficiency
As of September 30, 2024, the group’s whole belongings surged to N808 billion, marking a notable enhance from N681 billion on the finish of 2023.
This development was primarily fueled by a big rise in non-current belongings, largely attributable to a sturdy funding in property, plant, and gear, which grew from N360 billion to N390 billion.
- Particularly, ‘’manufacturing plant belongings’ represented N391.7 billion, whereas ‘’constructing belongings accounted’ for N102.9 billion.
Present belongings additionally noticed a considerable uptick, particularly in inventories, which surged from N54 billion to N100 billion.
- Notably, spare components comprised 47.9% of whole inventories, with semi-finished and completed items contributing 29.18%.
Be First to Comment